Updated over 8 years ago on . Most recent reply
Is it possible to finance auction properties?
It seems like a lot of the good deals on multifamily properties sell at auction. But, most of the properties on auction.com are being sold cash only. Any ideas on how to get around this and buy one with financing? Could you use hard money somehow? I know it's a long shot but I just want to make sure I'm not missing something here before I write auctions off as an option.
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@Emily McCabe Well, short of having a line of credit or very trusted private lender, the only way I know of it being done is how we do it - someone buys a property with their own (or friends/family) cash at auction, then we do a cash-out refi as soon as they get the deed from the trustee/bank/lien holder.