Updated about 5 years ago on . Most recent reply
Auction financing?
I recently ran across a service that provides cash upfront for auctions. I have always been able to get my most profitable flips at auctions, so a service like this has peaked my interest.
This company is the only one that I have been able to find, but the cost is pretty steep. 20% of the required funds, plus a $2,000 fee. Does anyone know of a similar service/company that could provide the upfront funds at a bit cheaper rate?
Any input is greatly appreciated.
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- Residential Real Estate Investor
- Kansas City, MO
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I think most companies that offer such services are going to charge a pretty penny. The best luck we've had with such things is finding a private lender. A ma and pa sort. We've gotten as low as 9% with no points, but sometimes back when we were flipping, we'd pay a point or so. So something to consider is looking for a private lender who is willing to spot you the cash on short notice for a much more reasonable rate.