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Creative Real Estate Financing

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Ray Thorsen
Pro Member
  • Investor
  • Waterford, WI
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89
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I won a Cash only Auction.com I used the ready fire aim approach

Ray Thorsen
Pro Member
  • Investor
  • Waterford, WI
Posted Apr 19 2016, 20:33

So I was watching an auction on an occupied duplex. The opening bid was 17.5k with a reserve. ARV is 105k. Rents are 550 ea. It needs some updates but livable. Bids were at 60k and reserve was not met. So I said why not and bid 61k. Thinking all along the reserve had to be set way higher. Low and behold I won!! Yeah!! But now I need to pay for it. I could empty my investment reserves and tap into my personal savings but was hoping the BP community could offer me some other opportunities. I will use the BRRRR method as soon as the bank will refi me but do not want to run that thin on capital if I do not have to. Any help with private financing, hard money lenders, etc. would be greatly appreciated.

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