Foreclosure Auction Purchase Strategy
I have an investor who wants to purchase a home from a
trustee auction using hard money lenders and I told him that probably wouldn’t happen because of the risks involved.He does have the cash to purchase in full but would rather leverage his cash.My thoughts are to have me purchase at the auction with his cash and then use hard money to secure the property once I received the deed.Obviously there are the normal risks involved in purchasing a property at a trustee sale but has anyone used
this strategy and is it worth it?I just think there would be extra cost/fees for the sale between myself and the investor and then the investor to final buyer…any thoughts would be greatly appreciated.Thanks