Ideas?
I'm buying a property for $58,000.00. A mortgage company will allow me 90% of the money needed for the purchase. The property needs about $12,000.00 rehab. Mostly heat pump and small repairs. I can do all but heat pump. The house will appraise around $95,000.00. Is it a good idea to take a 2nd mortgage on my home to pay the 10% down and do the repairs? The house is ready for a renter if I decide to rent it. To rent the house I would spend less then $5,000.00 on repairs. Any ideas? 
Why dont you place an ad in your local paper:
"Tired of the stock market? Make 12% on your money secured by a 2nd Trust Deed."
Have the investor put all of the money up for you, rehab it, and then refinance it with a good loan! That is my suggestion to you unless of course you have a line of credit you can use!
Best Riches,
Jeff Adam
[addsig]
I will share an idea that could help. There are some lenders that will provide a rehab loan in which they will loan you money based on what the house would appraise for after you do the repairs. You may have to do some shopping in your local area to find someone willing to do that but they are out there. If you can find a lender willing to do that, they should be able to lend you 80% or more of that 95k which should take care of all your expenses. Wish you well and keep us posted!!!
I like Jeffrey Adams approach and we have used that this year. It works splendidly!
[addsig]