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You're listening to Ramsey everyday millionaires where we talk investing, retirement, building wealth, and outrageous generosity. Christina joins us in Phoenix, Arizona.

Christina, welcome to the Ramsey Show. Thank you, thanks for taking my call.

Absolutely.

Okay, so my question is, my husband and I are looking by our first home and we see a lot of these

auction and foreclosure homes and we were wondering if you recommend buying them as well as it looks like auction you might have to have 100% cash which we do not

but just wondering kind of information on auction and foreclosure and if you guys recommend one or the

other or kind of the details of it. Yeah I mean they can definitely be great

options and and usually for people if you're doing investment real estate this is a great

option to go down because you just get the best deal on the front ends right

you kind of get built in equity automatically but there are some parameters on the

honest Christina I'm not a I'm not an expert on that I wish my husband was here because

he does this a lot and knows the ins and now it's probably more than I do but I do know you want to look in and make sure you have title

insurance, like you want to make sure there's, you know, that the deeds are clean, titles are clean.

Like there's definitely some hoops to jump through to make sure that it's a good deal for you and like you

said sometimes the you know the person that bids and wins does have a lot of the

cash up front I know that is that's an advantage there but

but yeah what do you think George?

Like it doesn't it's not always required. I haven't heard that it's always required. I think you can get on a conventional, you know, 15-year fixed.

What I would look into is doing your due diligence to see exactly what happened here and what the condition of it is is you need to be extra cautious to make sure that you're not buying sort of a lemon or you're going oh, we thought it was going to be 20 grand to do the improvements

It's going to be a hundred yeah because for some people as

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