re-hab - Posted by mike

Posted by mike on November 26, 2000 at 21:34:14:

Hello all, hope all the turkey is gone, was getting sick of sandwichs, soup, and more turkey.LOL

Anyway, here is my oportunity.
house [could be duplex] 20k
repairs, mostly vandalism 5k
FMV 40k

problem: seller will do a L/O till we are finished the fix up, great, my thanx to him!!!
problem: no money for re-hab

qusetion: which method would I use to aquire the property so I can pursue a 60-70% LTV to effect repairs.
I am thinking that I need to obtain title before I can pursue a mortgage.

The seller seems to be flexible coz the property has been vacant for a time, and his carry costs are reletivly low.

Thanx for help in advance