Hard Money Private Lender Experienced Investor Insight

[Caroline Jaloma]

I am new to this real estate investing game. Can someone give me an example how to get financing on a property with comps of 2.5 million going to auction for 1.7 million. It will have an instant equity of 750K+. I know around 95% (give or take don't) at this price don't receive a bid at auction.

TIA

[Nghi Le]

It's going to be hard to find a lender that finances at the auction.  The other hard part is down payment on such a high price point.  Most hard money lenders want around 20% down.

Have you thought about approaching the sellers directly and offering to buy the property before it hits the auction?  You'll have more financing options there.  This might be a taboo in your state (I know in mine it is), so definitely check your local laws.