I am going to an auction today. There is a lake shore lot, a non lake shore lot, and a house and land on the lake lot.
I have $30,000 in cash in my bank accounts and own a copy houses free and clear. (~$70k and ~$50K, is the estimated value of the homes)
I have 7 rental houses and a full time job where I make about $44K a year
I did not have time to get the banks to analyze my situation. I have not checked my credit score in a while used to be 680 to 730 over the years.
Just wondering options to purchase one of properties
$10,000 down at auction and the balance with in 30 days.
These properties are on the premier lake in the area. I am looking to bid up to $250,000 on the home with lake lot. The county tax assessed value is $360,000 for this property.
any lenders? financing ideas?
I may live in the home as my personal residence and rent out my current home.