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  • December 9, 2009 at 1:10 PM #493230
    UCGal
    Participant

    [quote=Noob]Does anyone have any suggestions as to if it is possible to get some financing to meet the cash requirments for courthouse auctions?[/quote]

    I think Jim the Realtor (bubbleinfo.com) is trying to put together some financing packages for trustee sales. But there are limitations – 30% down for example… I’d contact him as a start.

    Since you mention you’re looking downtown, I assume you’re looking at condos. Be sure to look VERY closely at the HOA financials for the building you’re looking at.

    December 9, 2009 at 1:28 PM #492363
    SD Realtor
    Participant

    Jim is working on a possible model and he has already kicked it off. There are some complexities and I am working on something with him as well. You may also want to check SDDCIA for hard money lenders. You can also try local banks to try to get a bridge loan of some type. I would not recommend buying at auction to many people at all unless you know what you are doing.

    Good point on the HOA for downtown condos. Most likely you will not get any info about any HOA financials when you buy at trustee sale.

    December 9, 2009 at 1:28 PM #492527
    SD Realtor
    Participant

    Jim is working on a possible model and he has already kicked it off. There are some complexities and I am working on something with him as well. You may also want to check SDDCIA for hard money lenders. You can also try local banks to try to get a bridge loan of some type. I would not recommend buying at auction to many people at all unless you know what you are doing.

    Good point on the HOA for downtown condos. Most likely you will not get any info about any HOA financials when you buy at trustee sale.

    December 9, 2009 at 1:28 PM #492908
    SD Realtor
    Participant

    Jim is working on a possible model and he has already kicked it off. There are some complexities and I am working on something with him as well. You may also want to check SDDCIA for hard money lenders. You can also try local banks to try to get a bridge loan of some type. I would not recommend buying at auction to many people at all unless you know what you are doing.

    Good point on the HOA for downtown condos. Most likely you will not get any info about any HOA financials when you buy at trustee sale.

    December 9, 2009 at 1:28 PM #492997
    SD Realtor
    Participant

    Jim is working on a possible model and he has already kicked it off. There are some complexities and I am working on something with him as well. You may also want to check SDDCIA for hard money lenders. You can also try local banks to try to get a bridge loan of some type. I would not recommend buying at auction to many people at all unless you know what you are doing.

    Good point on the HOA for downtown condos. Most likely you will not get any info about any HOA financials when you buy at trustee sale.

    December 9, 2009 at 1:28 PM #493235
    SD Realtor
    Participant

    Jim is working on a possible model and he has already kicked it off. There are some complexities and I am working on something with him as well. You may also want to check SDDCIA for hard money lenders. You can also try local banks to try to get a bridge loan of some type. I would not recommend buying at auction to many people at all unless you know what you are doing.

    Good point on the HOA for downtown condos. Most likely you will not get any info about any HOA financials when you buy at trustee sale.

    December 9, 2009 at 2:57 PM #492403
    UCGal
    Participant

    I’m still too chicken to buy this way. I’ve worked hard to save my $$ and don’t want to risk it. Seems like there’s too many ways to lose.

    (Although there are lots of ways to make money too.)

    Maybe I should change my pigg ID to scaredycat. Oh wait, that’s taken. LOL.

    But the idea of buying at the steps is intriguing… Especially since I am attracted to the idea of getting a rental property if it cash flows. But the risk of unrecorded liens, no inspection, etc… those risks keep me from pursuing it.

    December 9, 2009 at 2:57 PM #492565
    UCGal
    Participant

    I’m still too chicken to buy this way. I’ve worked hard to save my $$ and don’t want to risk it. Seems like there’s too many ways to lose.

    (Although there are lots of ways to make money too.)

    Maybe I should change my pigg ID to scaredycat. Oh wait, that’s taken. LOL.

    But the idea of buying at the steps is intriguing… Especially since I am attracted to the idea of getting a rental property if it cash flows. But the risk of unrecorded liens, no inspection, etc… those risks keep me from pursuing it.

    December 9, 2009 at 2:57 PM #492948
    UCGal
    Participant

    I’m still too chicken to buy this way. I’ve worked hard to save my $$ and don’t want to risk it. Seems like there’s too many ways to lose.

    (Although there are lots of ways to make money too.)

    Maybe I should change my pigg ID to scaredycat. Oh wait, that’s taken. LOL.

    But the idea of buying at the steps is intriguing… Especially since I am attracted to the idea of getting a rental property if it cash flows. But the risk of unrecorded liens, no inspection, etc… those risks keep me from pursuing it.

    December 9, 2009 at 2:57 PM #493037
    UCGal
    Participant

    I’m still too chicken to buy this way. I’ve worked hard to save my $$ and don’t want to risk it. Seems like there’s too many ways to lose.

    (Although there are lots of ways to make money too.)

    Maybe I should change my pigg ID to scaredycat. Oh wait, that’s taken. LOL.

    But the idea of buying at the steps is intriguing… Especially since I am attracted to the idea of getting a rental property if it cash flows. But the risk of unrecorded liens, no inspection, etc… those risks keep me from pursuing it.

    December 9, 2009 at 2:57 PM #493275
    UCGal
    Participant

    I’m still too chicken to buy this way. I’ve worked hard to save my $$ and don’t want to risk it. Seems like there’s too many ways to lose.

    (Although there are lots of ways to make money too.)

    Maybe I should change my pigg ID to scaredycat. Oh wait, that’s taken. LOL.

    But the idea of buying at the steps is intriguing… Especially since I am attracted to the idea of getting a rental property if it cash flows. But the risk of unrecorded liens, no inspection, etc… those risks keep me from pursuing it.

    December 9, 2009 at 4:05 PM #492424
    SD Realtor
    Participant

    I don’t think your fears are unfounded at all. Everyone has different thresholds. Nothing wrong with that in the least.

    December 9, 2009 at 4:05 PM #492585
    SD Realtor
    Participant

    I don’t think your fears are unfounded at all. Everyone has different thresholds. Nothing wrong with that in the least.

    December 9, 2009 at 4:05 PM #492968
    SD Realtor
    Participant

    I don’t think your fears are unfounded at all. Everyone has different thresholds. Nothing wrong with that in the least.

    December 9, 2009 at 4:05 PM #493057
    SD Realtor
    Participant

    I don’t think your fears are unfounded at all. Everyone has different thresholds. Nothing wrong with that in the least.

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