Hello BP family,
I am a newbie and am relocating to Denver have been doing a lot of reading for the last 6months, this is my first post and I need advice and inputs. on starting out.
Options I am considering at this time..
1. Invest in Performing notes not sure if we have any other options like PPR with the same transparency and easiness to start (?)
2. With the current rental in South Denver(80111, 80112), with good schooling distr does it make sense to ho for Rent to own option ?
- I have a decent paying job with about 30k to invest
- Have a visa dependency because of which I do not want to take ownership of a property at this time but mostly within a year
- Appreciate any references to immediate rent to own options pls send a pm
Thanks in advance for the help
Welcome to BP.
In #2, what is "ho for rent to own"
I believe what Dave does at PPR is non-performing seconds that are brought back from the grave (modified notes).
Need to look for local notes in your area IMO. They are there, you can find them at the courthouse. Read up on notes here as there are posts about finding notes and due diligence.
Rent to own to a homeowner occupying the home will have legal issues, read the Dodd-Frank threads. :)
Thanks For the quick reply Bill, I will check the references.
On#2 I meant does it make sense to go for rent to own option, I will review the legal side more.
Sounds like you are looking rent a property with the option to purchase it in the future. You are looking in the south metro area. Is that correct? Be aware that most people offering rent to own are not really looking to sell they are just looking to increase revenue through option fees (only a small percentage (<5%) are ever exercised. If you do plan on entering one of those types of agreements, have an experienced real estate attorney review the documents before you sign them. Also be aware that your purchase price will likely be inflated above current market value.
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