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Updated over 5 years ago on . Most recent reply

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Christopher Edward
  • Developer
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Buying a house in auction but cannot pay for repairs

Christopher Edward
  • Developer
Posted

I have a couple thousand to invest and seen a property in auction that I want. I don’t enough for repairs so should I bid on it. If I do how can I find money for repairs?

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Aaron K.
  • Specialist
  • Riverside, CA
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Aaron K.
  • Specialist
  • Riverside, CA
Replied

No you shouldn't, because not only do you not have the money for repairs but you don't know how much money you will need to complete those repairs.  I'd look at some on market stuff first if just starting out, even if just to get an idea of what repairs are most common in your area.

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