Hi I'm an investor with Bridgehouse in Ladera Ranch what's the good word out there on Rent to Own contracts? I was thinking keep the option fees low and really scrub the applications to make sure the people can actually by the house down the road? What experience do you guys have with rent to own contracts?
I vastly prefer land contracts over rent to owns. Shifts responsibility over to the buyer
What kind of up front monies from the buyer are you looking at on a land contract. Bridgehouse Investors is interested in adding this to our product list.
With my Owner Finance deals I'm looking at getting 10%, but do remember they are going to need pay for
Closing cost: Contact your title company / lawyer
Loan Checking company = RMLO = Residential Mortgage Loan Originators: One time fee $500-800
Mortgage Servicing Fee = $35-50 a month
At Bridgehouse Investors we are wanting to buy options on homes and the offer them rent to own to actual buyers that need help getting their mortgages approved. 10% might be too steep on the front end.....