wholesale vs rent to own

4 Replies

someone in my neighborhood has a single family house going for 159k

not working with realtor

and on the sign it says "rent to own may be an option"

currently i am kind of broke. $500 to my name and make about $50 to week

what should i do? is one better than the other?

Most if the time with rent to eon they want a chunk of money to put down in addition to renting. The chunk of money goes towards your down payment if you choose to buy. If you don't, your money is gone!

Medium prime lendingJerry Padilla, Prime Lending | [email protected] | 585‑204‑6923 | https://lo.primelending.com/jerry.padilla | NY Lender # NMLS #1084877

oh okay. well that answers my question than i think.

@Brian Gibbons

do you think the same thing? is there a way of doing rent to own without money?

@Jerry Padilla

@Account Closed

that s true if they are selling it as a lease option. But it is possible they my sell via seller financing an you can take title. It may be another investor assuming most home owners do not know how to structure a lease option. You will need money for a down payment. Wholesaling may be a good option here.

Originally posted by @Account Closed :
oh okay. well that answers my question than i think.

@Brian Gibbons

do you think the same thing? is there a way of doing rent to own without money?

Derek, its all in the negotiation with the seller. You are listening to their concerns, and asking the right questions.

On my blog is a negotiation training, many have found it useful in talking to the seller.

http://www.biggerpockets.com/blogs/3/blog_posts/30889-negotiation-seminar---25-hours

Medium banner reiskills 997   copyBrian Gibbons, REISkills | [email protected] | 818‑400‑3046 | http://MyREISkills.com