These guys are juniors and they will be staying with us next year as well.

As for the mechanics lien, in most jurisdictions yes, except some states protect a person's Homestead from non mortgage junior lien foreclosures.  

@Nicole Pettis @Dawn Anastasi @Jeff Greenberg @Junior Salters Thanks all for your kind words.

@Peter Grosso   many times in the small print of the senior mortgage with be a clause that does not allow any junior loans and that is an event of default.  

My name is Kenny and i have lately been looking at getting my real estate license right out of high school, i'm a junior right now, and working as a real estate agent.

Have a couple general contractors walk through and definitely get a home inspection -- once you're in contract.Here's an example based on the following assumptions: The ARV is 860k -- this is what the house would sell for once renovatedRenovations will cost you 50kYou'll sell the house within 6 monthsYou're going to resell the house using a realtor, paying 5% commissionIf you cash out the existing mortgage of 500k using a hard money loan at 2 points and 12%, and then asked the sellers to carry a junior lien of 125k at 7% interest, then if you offered 625k you'd profit about 85k.That's about a 10% profit of the ARV -- your criteria are up to you but I wouldn't go smaller than that.

(Northern Iowa) I am a junior majoring in finance/Real Estate.

They really know what they are doing.You might also want to reach out to @Alex Craig since his junior partner is also an Oxford investor.Best of luck to you!

However if one does redeem the mortgage goes back to original amounts due ( IE drop bid goes back to total amount due) also all junior encumbrance's re attach.So in our state it rare as hens teeth that anyone redeems and its the same in other states ( I can't mention ) were I buy courthouse steps... 

If he has a junior agent there write the offer for you to "get it in" over the weekend then it might work for you.Just because the offer gets in right away doesn't mean the seller will accept it.