You Don't Need to Be a Landlord!

Tired of dealing with maintenance and difficult tenants? Here's how to turn your buy and hold properties into terms deals.

We often have people coming to us with multiple properties in their portfolio that are being renovated or updated. Why? Because their tenants have destroyed them or they're in the process of flipping them.

With these renovations come headaches, unexpected costs, and a whole lot of work. So when they ask us for help, the first thing we do is tell them to give up the landlord gig. You can turn any rental property into a rent to own deal with little effort, and it will make your life a whole lot easier while generating significant revenue.

And the best part? There's no need to even fix up the house in the first place.

Selling without renovating

Most people assume they need to fix up or renovate a property before selling it. But with rent to own deals, that's not the case. As long as the house is habitable, you can sell it. In fact, we never recommend investing money into repairs, renovations, or maintenance when selling on terms.

As long as the house is habitable, you can find a tenant buyer that is willing and able to buy the property and do the work required. There are many contractors out there who can't get a conventional loan and will happily do the work themselves.

If you price it accordingly, there is nothing holding you back from selling a property without doing the work yourself.

Tenants vs. tenant buyers

One of the primary benefits of turning a rental property into a terms deal is that you'll go from dealing with tenants to tenant buyers. It might sound like a negligible difference, but it will make your life easier while also saving you money.

A tenant buyer is, for all intents and purposes, a buyer. They are going to buy the property, and that means they assume all the same responsibilities a buyer would. They are responsible for maintenance, upkeep, repairs, and anything else that would be normally covered by a landlord in a rental situation.

And best of all, they need to make their payments on time in order to secure financing at the end of the term, so they are far less likely to miss rent payments or default. That means you can sit back and relax instead of having to worry about whether or not your tenant is taking care of your property.

Stacking wealth

We're not against buying and holding properties or being a landlord. Plenty of people have large portfolios with dozens or even hundreds of properties that are producing great income for them. But when you go into your portfolio, hand-pick a few properties, and turn them into rent to own deals, you begin what we like to call "stacking wealth."

After turning a rental property into a rent to own deal, you all o fa sudden don't have to worry about putting money into it. You don't have to worry about fixing or maintaining the property. You don't have to worry about evicting tenants or demanding rent. And you benefit from our 3 Payday™ system which provides a lump sum at the beginning, consistent money throughout the term, and another lump sum at the end.

If you're curious about how this works or if you think that these methods wouldn't work for your unique situation, then you would benefit from a strategy call with our team. Just head to smartrealestatecoach.com/action and schedule yours today.

Do you have rental properties that you would consider turning into rent to own deals? Why or why not? I'd love to hear your thoughts in the comments below.