I am looking to network with professionals that work in the rent-to-own space. I am most interested in the South Suburbs of Chicago.
I am also interested in other investors success stories when doing rent-to-own. Are there any huge negatives or positives.
I appreciate the input.
Aka: Lease with option to buy.
Seller offers option to buy, for a fix time period with an option price to the leasee. Some portion of the rent is said to be applied to the down payment. Seller can not sell to anyone else while the option is still running.
When option period expires, leasee must exercise the purchase, or forfeit.
There can be legal issues, so do your homework.
I don't know if you realize it, but there is Forum dedicated to RTOs / Lease Options