Need to get creative with purchasing a townhouse
What's up BP! So I have a broker I am familiar with who is looking to move a townhouse in the area. Her seller hand an initial price of 75k with about 15k rehab. I told her that I didn't like the margin with the ARV at around 105k
So she informed me today that the seller is willing to carry the note for 71k with 20k down. This deal is starting to look more enticing, and she informed me that the previous tenants lived there 8 yrs paying $1200 monthly rent.
I do not have the reserves setup yet to where I can pay the 20k down. So my question is, what are some creative ways to where I can put the money down as well as spend the money for the rehab? Any help would be appreciated