Rehab info needed

Hi I have a deal on a house that I need help on if someone can help me out with this as im a newbie of sorts.

Ok there is a house that is for sale for 24k that I looked over and the house needs 15k to fix up but when the house is fixed up its worth 80k according to realestate agents comps.

I dont have the money needed to pay cash to make the deal work and the seller is very flexible and just wants out of the home. What should I do to make this deal work my credit is only 622 right now and im self employed.


– Does the current owner owe anything on the house or does he own it free and clear?

– If he owns it, will he hold a note on it?

– If he owes, will he sell on a ‘sub2’?

Lots of options here – but you HAVE to know the situation.

Once you get it, do you have funds to rehab?


Hi no the owner still owes 25k for the place , and he would be willing to be a sub2.

I have no funds to fix the place either.

What do you suggest?