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How to Buy a House at an Auction Without Having Cash

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Those shoppers can, after all, potentially save a significant amount of money by buying a foreclosed home at an auction. Get a hard money loan Hard money lenders are financial institutions that lend money to people with less than stellar credit or complicated finances in order to buy assets such as real estate.

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Flipping Houses in New York: 5 Cities to Consider

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Typically, they buy distressed properties — either short sales, foreclosures, or homes that need significant work — fix them up, and sell them for a profit. According to the real estate investment lending site New Silver, the average Fix and Flip investors in New York are generating $56,400 per flip. Wise agrees.