I went to the Real Estate Auction today which was held at the Dallas Regency Hotel, after staying up late and getting about 2 hours of sleep.
The auction was awesome and exciting. It’s really sexy.
My endorphins were flowing from all the energy buzzing in the room.
Some of the properties I had gone to see went up for bid, but the bids all passed the amount of cash I currently have to invest.
The good news is that a friend of mine from the mastermind group says he is willing to loan me some dough at hard money rates as long as there is good equity in a deal.
Next time the auction comes to town, I want to ensure that I have gone and investinated alot more of the properties and come up with a proper maximum bid for each. Also, to have all my financing ducks in a row so that when I hit the auction, I am ready to move.
My credit is still getting cleaned up, but have gotten a few things cleared off since my last attampts and my credit score went up about 27 points. Still trying to clean it up so I can qualify for some conventional loans.
It’s great that I have access to hard money to aquire the properties, but I anticipate needing to be appoved for a conventional loan when I intend to hold these properties as cash-flowing rentals.
Hi there,
I looked over your blog and it looks really good. Do you ever do link exchanges on your blog roll? If you do, I’d like to exchange links with you.
Let me know if you’re interested.
Thanks..