where can I find rent to ownd properites in Florida?

9 Replies

I may be relocating to Florida and would like to explore rent to own properties but so far websites only want me to check my credit and have little available inventory.

Looking in the Coral Springs area and would be willing to pay $3000 monthly if the school system is good.

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Most of the rent to owns are offered by investors doing the trailer home Lonnie system. Inflated sales price, large down payment, hope you default on a couple of years, rinse and repeat. Sub2's would probably be better, but you'd need to find them and propose it, as they're of course not readily offered.

I think you are probably correct @Wayne Brooks

I am actively looking, Unfortunately if we do need to move I will not be able to buy since my current 800,000 mortgage will prevent me from getting another one unless I sell or have at least 2 years rental income reported on my tax return.

Thanks for your input.

Have you tried connecting directly with some Florida BP folks? There are a lot that post in the marketplace, I've noticed. They're mostly doing low priced deals but if they know what you're looking for perhaps they'll come across something...

I think you are probably correct @Wayne Brooks

I am actively looking, Unfortunately if we do need to move I will not be able to buy since my current 800,000 mortgage will prevent me from getting another one unless I sell or have at least 2 years rental income reported on my tax return.

Thanks for your input.

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Create your own Rent to Own opportunity by contacting property owners directly. Go to Craigslist, search the For Rent section as well as the For Sale By Owner section. Make calls on any properties that fit your parameters. Then present it in this fashion:

(1) Would you be interested in a long term lease, say two to three years?

If they say yes, then follow up with...

(2) Would you have any interest in perhaps selling this property during that time if I was able to get a loan?

Some may have no interest, some may have tremendous interest.

The key is to avoid the smart investors that area already offering Rent to Owns and instead, connect with a homeowner directly who is not a seasoned investor. That way, you can structure the best deal AND get the type of house you want.

Depending on which side of the equation you are on, the biggest issue with Rent to Owns is the lack of quality properties offered on this arrangement. Therefore, to get the best opportunity, you may have to create your own.

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