Experiences of a REI (NY style)

My successes and failures as I attempt to build my wealth through real estate investing.

Wednesday, March 22, 2006

A possible answer to my question

I was doing a little research on the question that I posed in the last post, and I found a great cite that started to answer my question. The website is

http://www.reiclub.com/articles/

It basically says in a very simple summary that there is a time for lease/options, and a time for subject-to purchases. Since the Deed is not in your name in a L/O it would be dangerous to use this method if the seller was not reliable, because the deed could be marked while you are holding it. With a subject-to purchase the deed is in your name, so the seller can not tarnish it. This is a clip from one of the articles written by Wendy Patton on that website that makes it a little clearer.

Situation
Sellers that Have Bad Debt

Solution
Get the Deed : NO Lease option!

Vs.

Situation
Sellers that Have Good Debt

Solution
Lease Option or Deed!

I willcontinuee to research this. If anyone has any input, or thoughts please do not be afraid to write to me and I will write it on this blog.

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