Posted by Jya-Ning on October 03, 2003 at 16:04:16:
How is your credit?
If it is good, talk to REO bank, they may willing to give you a whole package that allow you to rehab the house in a good rate, that is the cheapest one.
If it is medium, try to find some hard money lender, They may ask 12% to 20% rate in return. But they usually give you LTV based on the repaired value. It is a little risky though.
If it is medium to bad, go to your local REI group, see if anyone interest to buy, they may give you a finder fee. Or see if anyone want to part with you. However, they may want a bigger percentage in the profit.