????? so many questions
I am reading alot and i'm kind of curious as to how as a buyer of a sub2 property I would refinance or get cash out if the deed is in the sellers name? I'm really torn as to how we should purchase a home, lease option or sub2. As I read more on lease options it seems like it's really for the seller and not the buyer. And I say this because of the way it's written about on some sites. (not this one) How can I really benfit from a lease option deal as a buyer? But with sub2 i'm still not clear, I can't order cash's program until friday so I am reading posts and visiting web sites until I order it. Both concepts are so interesting to me. I'm also curious about how some people with bad,little or no credit or cash got started in REI. Did you use sub2 or lease optioning to get your first deals? I'm full of questions this evening. 
looking forward to hearing from you all 
Hey hunt8818,
The whole problem here is that YOU"RE the buyer. Buying for yourself. You're right, in a L/O when YOU"RE the buyer, it does benefit the seller. You're "renting" on the sellers terms, paying over the existing mortgage.
(paying for the option + a little in the sellers pocket).
As with a Sub To, being the BUYER you have no profit centers. You're basically getting the house with very little down then re-fi at the end of the term...hopefully the interest rates at the end of the term will be the same or lower....however, you WILL GET THE DEED doing it the Sub To way...that's ownership!
Hope this helps,
Clif
Thanks for the advice. But I still wonder how can you refi when the house isn't in your name with a sub2?
Hey Hunt,
The house IS in your name or at least a trust you own....remember, you're getting the deed which means you own it. Only the loan stays in the sellers name..
Clif [ Edited by pbodys on Date 05/28/2003 ]