Somewhere right now there’s a new real estate investor who would like to get in the game of buying property at the public foreclosure auction. This investor knows that if he makes a successful bid, he has to pay $10,000 immediately and the remainder of the full price within 24 hours, and he either doesn’t have it or it represents his full bank roll. He is worried that if he pays cash, he won’t have enough capital left to do necessary repairs t get the house ready to sell. So this causes him to not make a bid and miss out on a great deal.
Obviously, he doesn’t know about ‘hard money’ bridge loans. How to source them, how to use them, and how quickly they are funded!
I’m Rick Rickert, CEO of Titan Capital Holdings and an avid investor at the foreclosure auction. I have purchased 167 properties at the auction over the past 15 years, and most of them I purchased with a short term hard money loan. I have made another 3000 purchases at the auction on behalf of my clients, and many of them use the same strategy.
As a Realtor, you have to know about this to have claim to being a full service agent. We can teach you all you need to know! Check out a 45 minute preview of my online education course, Auction Pro Academy:
www.auctionproacademy.com/free
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