Subject To Deal! - Advice?

[Taelonn Harper]

I am working on a Subject To Deal and would greatly appreciate any advice anyone may have to offer.

Here is a breakdown of the numbers:

Property ARV: $120,000 cash.

Loan amount still owed: $79,000 cash.

Interest rate: 2.5%.

Time left on the loan: 14 years and 2 months.

Monthly payment (principal only): $300.

Estimated PITI: $750 monthly.

It is a duplex and each side can rent for $1,000.

Rehab cost: $30,000.

The seller wants $30,000 cash at closing.

Mortgage-only payments.

If I can pay $700 a month at 2.5% while collecting $2,000 in rent, this deal seems like a no-brainer. I already have some rentals, but this would be my first Subject To deal.

My question is, how can I finance it? If I want to do a Subject To deal, do I need to bring $60,000 to closing ($30,000 to the seller and $30,000 for rehab)?

Alternatively, is there a way to finance it without coming out of pocket? I want to keep the 2.5% loan instead of refinancing into an 8% loan. Is that possible?