3 BED - 1 Bath - Can rent for 1.2k! - HELP ME!!!!

19 Replies

Hello, sorry for spamming this week with about 7 different questions and threads.

RENT TO OWN RENT TO OWN RENT TO OWN! HELP!

- My Partner and I Have Just Finished Rehabbing a property in a nice CITY neighborhood, HOT HOT RENTER MARKET..

- Have you ever done a RENT TO OWN? Or LEASE TO OWN AGREEMENT?

- Success? failures?

- Help me create the BEST fitting TERMS...

- If I sold

This house on the open market tomorrow, I could get 70,000 for it...

- What can I make the final sale price in the rent to own?

- HELP HELP HELP

Sorry for spamming BUT let me just EMPHASIZE every other WORD BY PUTTING THEM IN ALL CAPS AND REPEATING HELP IN ALL CAPS OVER AND OVER

I have a rent to own that I sold with a Land Contract. I got 5K downpayment ans they are making monthly payments.

The pay the property tax and insurance. I am listed as a loss payee on the insurance policy.

They are paying like clockwork

The Deed stays in my name until they pay off the house.

Originally posted by @Cameron Riley :

@John Underwood

How many rent credits go to the clients per month?

What are the details of the deal if you don’t mind sharing?

I have a full amortization schedule. They pay off the house in 10 years. I get a nice interest rate and market rate or better on the house.

I offer rent to own with the understanding that the tenant behaves and pays their rent on time for 2 years. At the end of 2 years we work out a purchase plan. It's not what most landlords do, but it works for me.

There’s some confusion on this thread with the definition of true rent to own aka lease option and a seller financing land contract . There is a difference 

Originally posted by @Cameron Riley :

@Dennis M.

Have you ever done the rent to own deal with a tenant?

Nope I doubt I would either . You must qualify them now and you can’t use rent credits or reduce the purchase price . Basically makes the strategy pointless these days thanks to Dodd frank act  

Originally posted by @Cameron Riley :

@Dennis M.

Rent credits, I still hear of majority doing that though

I know a guy locally who does this still too . If the feds track him down he’s going to be in for a  world of hurt .

Originally posted by @Cameron Riley :

@John Underwood

Do you own the home cash or did you secure loan from bank?

I own my homes all cash. So I think mine would end up different

 Mine are all cash.