Re: ‘Subject to’ method - Posted by Jim Kennedy - Houston, TX
Posted by Jim Kennedy - Houston, TX on June 16, 2001 at 23:33:35:
Check out these courses that are sold here through this web site.
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In your post, you wrote, “… the price of the house is really not an issue”, in reference to lease/options. Benny, the price is almost ALWAYS an issue. It may be of less concern in certain types of transactions, but price is almost ALWAYS one element of the deal that must be taken into consideration. While it’s true that the impact of ‘price’ can be mitigated by other elements of the deal, that doesn’t mean that you can simply ignore ‘price’. I say “almost ALWAYS” because about the only time you can totally ignore the issue of ‘price’ is when the ‘terms’ are so ridiculously skewed that ‘price’ becomes inconsequential. Here’s an extreme example. I’d gladly agree to a purchase price of $1,000,000 for a property with a FMV of only $100K if the seller would agree to carry the financing at my terms of, let’s say, $100 dollars per month, zero interest, until paid. Now obviously this is pretty outlandish. In the usual course of creative real estate transactions, including lease/options, you’ll get into serious trouble if you start taking a cavalier attitude regarding ANY element of the deal.
Hope this helps.
Best of Success!!