All Forum Posts by: Jimmy Mozingo
Jimmy Mozingo has started 13 posts and replied 34 times.
Post: John Alan Darcy financial services
Jimmy Mozingo
Posted
Pro Member
- Investor
- Eastern Shore of Virginia
- Posts 34
- Votes 7
Anyone have any experience doing business with this company?
Post: Borrowing money to fund auction properties
Jimmy Mozingo
Posted
Pro Member
- Investor
- Eastern Shore of Virginia
- Posts 34
- Votes 7
@Tom S.thank you that does help. This particular auction company wants a cashiers check for entire bid amount at time of award. I’ll see if I can scare up a rich aunt or uncle😂
Post: Borrowing money to fund auction properties
Jimmy Mozingo
Posted
Pro Member
- Investor
- Eastern Shore of Virginia
- Posts 34
- Votes 7
@Wayne Brooks you don’t think hard money or private money would work?
Post: Borrowing money to fund auction properties
Jimmy Mozingo
Posted
Pro Member
- Investor
- Eastern Shore of Virginia
- Posts 34
- Votes 7
I am looking at properties going up for auction. I want to get in on this as I think this may be a great way to get below market properties to either BRRRR or fix and flip. The auction house wants money in an escrow account before they will allow bids. As a new investor I don't have the 190-200k needed to fund an escrow account. Any advice on strategies or creative ways to raise funds using OPM. Or am I out of my element here?