Posted by Jim N on November 21, 2003 at 14:56:28:
Always go for the deed if possible.
Lease Option vs Subject To - Posted by Sean
Posted by Sean on November 21, 2003 at 14:38:06:
Under what circumstances would it be advisable to take a house on a 36 month lease/option as opposed to taking it “subject to”???
Thanks
Sean
Re: Lease Option vs Subject To - Posted by B.L.Renfrow
Posted by B.L.Renfrow on November 21, 2003 at 20:18:03:
None, really, unless there was tremendous equity in the deal, good cash flow and a great back-end potential AND it was absolutely the ONLY way to get the deal done.
Brian (NY)
Re: Lease Option vs Subject To - Posted by Hank FL
Posted by Hank FL on November 21, 2003 at 15:59:00:
Some people have done very well for themselve w/buy side L/Os
Lori Sampson was good at that and used to come around here often.
I remember a coupl’a years ago a friend of mine wanted to take a house sub2. It was a good, newer block house (4/2.5/2) & my friend wanted it.
Turned out that there was a funky “help the disadvantaged” type loan on there.
There was a good chance of it getting called if a transfer happened.
Hence, the 35 month lease w/seperate option.
Re: Lease Option vs Subject To - Posted by Joe
Posted by Joe on November 21, 2003 at 14:50:46:
Here’s my opinion, and I know a I won’t get agreement from everyone. I’ll never L/O a property from a seller and L/O it to a buyer. There is too much that can go wrong, and therefore too much risk for my tastes.
So, my answer is, it is never advisable to L/O on a 36 month lease. There are too many other properties I can get without this increased risk.
Re: Lease Option vs Subject To - Posted by mikeW
Posted by mikeW on November 21, 2003 at 16:04:54:
Curious, would you mind elaborating on the risks you are talking about with sandwich LOs?