On Apr 25, 3:45 pm, (v) wrote:
On 25 Apr 2007 10:35:16 -0700, someone wrote:

....I spoke with my broker friend from over the
years and he said he had no idea how to obtain financing for such a
bid

Doesn't sound like much of a broker. Just a salesperson selling
houses rather than televisions or refrigerators. Anyway, this is why
these are oft bought by professionals, who have arranged in advance to
have money ready.

Please let me know where I can look to obtain financing so I can place
a bid.

If you have to ask, you can't. Use your line of credit. Do cash outs
on some of your other properties. If you can't figure this out, you
shouldn't be bidding.

Reply to NG only - this e.mail address goes to a kill file.

A home equity line of credit on an existing property you already own
is one of the most likely sources. You can get one where you draw on
it and repay it as needed. Or you could take a margin loan against
stock you own in a non-IRA account. After you buy it, then you can
obtain mortgage financing and repay the loan.