Updated over 13 years ago on . Most recent reply
No out of pocket tax deed sales?
Hello Everyone,
I want to bid in a tax deed sale (CA) but was wondering if I could find a hard money lender to front that money for me (online bidding). I don't have 100K at my disposal on my credit cards, nor do I have that equity available. It seems like most of these lenders look for available equity in a prop before handing over money. While, if successful/lucky, a winning deal in a tax deed should give at least 70% instant equity (which seems to be the min. qualifying #) this is not redeemable until the title is "quieted." So the question remains, who will lend money for these creative investments to me (California) with no up front money to bring to the table? Even references to potential sources of information would be helpful. Obviously I could turn to investors but that seems less profitable and easily introduces potential competition. Thanks in advance. BTW, this site is awesome. Just found it yesterday.