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Updated over 2 years ago on . Most recent reply

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Dallin Dragon
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How do I secure funding before buying a foreclosure at auction?

Dallin Dragon
Posted

To buy a foreclosure at auction I need to have the full amount of cash within 24 hours of getting the house at auction (that’s after paying $20k at the auction). I’ll go to auctions with specific houses in mind that I’ve scouted beforehand, but I‘m confused on how I can secure the funds with a private money lender before I even know the purchase price of the house or even which of my pre-chosen houses I’ll get or WHEN I will even be successful at auction. 

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Eliott Elias
  • Investor
  • Austin, TX
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Eliott Elias
  • Investor
  • Austin, TX
Replied

Get hard money on board well before you hit the auction, tell them which properties you are bidding on and how much cash to prep. 

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