Subject To Existing Financing

[Marcus Ford]

Hello my name is Marcus. I'm a licensed state of texas realtor and investor. I have a seller who is about to go into foreclosure within 2 half weeks. Principal balance $107,000, amount due to get loan current $22,000. Based on my comps, property is worth $150,000. I'm currently marketing the property as a seller finance deal with 25-30k down payment. I'm not sure how to do a subject to, but need some help or advice on make this deal work. House will need cosmetic repairs such as carpet, interior paint, update bathrooms. Maybe 7-10k to get it ready to sell on MLS. But I don't want to sell it. I need rental income. Any advice?