Expert Advice Needed!!
Here is the deal:
Two pieces of property on one lot. Total asking price of 79,000, but said would take 75,000. One house is a 4bd. 3 ba, 2000 sq. ft. and the other is 2bd. 1 ba, about 950 sq ft. I should be able to get rents totalling 1100 a month. My question is what is the best way to purchase. My method of doing the deal right now would be a construction loan. I can get in no money down and get money to rehab plus some labor money. I know the interest clock will be ticking so I am looking for some other options. I think the seller would do a contract for deed, but I need some money for rehab. Thank you in advance for any input.
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