Hard Money for Auction
Hi All,
I have been watching a deal on Hubzu that seems like a clear win. The home ARV would be $550k-$600k and I believe I could win the auction for $380k. The house was built in 2003.
My question is the auction is ‘cash only’ and I don’t have that kind of money laying around. Does anyone know of a hard money lender that would float money to purchase an online auction property? After the purchase I would do renovations and refinance.
Do you know if a ‘hard money lender’ would be considered a ‘cash only’ purchase or would that not qualify as cash for an online auction?
I appreciate any advice.
Jon