Rent To Retirement
I recently purchased a duplex in Florida with the help of Rent To Retirement. I'm sure you've heard their advertisements if you listen to the Bigger Pockets podcasts. This isn't my first real estate rental, but it is my first in Florida. Keep in mind that you do need 20-25% down payment. If you are new to real estate investing, I would pay for their education classes, but since I've done this a half dozen times before, I just picked a property and purchased it. Their fee was paid out by the seller and I got a $25k discount on the property and it appraised for $20k more than the purchase price! The process was nearly seamless (it's never perfectly seamless in real estate). The RTR property was/is turn key and I purchased it remotely. You may think this is foolish, but I didn't even set foot on the property and relied on the inspection.The property cash flows, though I did put down a big down payment. The property manager has been working out so far. I even purchased this property in my Solo 401k and RTR had a good recommendation for a non-recourse lender. I expect this to be a great investment over time. Some say the net promoter score (Would you work with them again?) is the best indicator of a company's success. I would definitely work with them again and likely will once my cash is built back up to buy another property.
Most Popular Reply
How long have you owned it? The time for success really is after you have filed a tax return for a full year of ownership.