Introduction
I am a full time investor based in Vallejo, CA.
I currently have partners on 17 rent to own units in Solano County. These are all REOs purchased during the past 12 months.
I am also in partnership on two rehabs, one of which is currently in escrow. Bought it for $83K, put $26k into it and have full price offer of $179,900.
Second one will be listed on Monday. 3/2 1400 sq ft. Bought for $87k, spent $19k rehabbing and will be listing for $185k.
Looking to pick up some more.
Comments (6)
Thanks Marco. Getting the hang of this social networking business. Hope things are going well. Caroline
Caroline Hegarty, over 16 years ago
Hi Caroline! It's nice to see you online as well after all the conversations we've had by phone. Looks like you've been very busy with REOs and building up your real estate portfolio. Nicely done. Keep going! Talk to you soon, Marco Santarelli Norada Real Estate Investments <i>Your Premier Source for Turnkey Investment Property</i>
, over 16 years ago
Hi Matt, Advertise on Craigslist, local newspapers, local realtors/brokers. Have had some publicity, so alot of people in my town know what I do, so I get alot of referrals. Bad credit not a disqualifier is usually helpful as that is what most people worry about. Hope that helps.
Caroline Hegarty, over 16 years ago
HI Caroline...fellow rent to own investor in Ohio....how do you advertise to find rto buyers? any tag lines that are successful? Matt
Matt Reed, over 16 years ago
Hi Jon, Rent to own deals are usually structured with a monthly payment pretty close to market rent with a 25% or so credit towards downpayment. Just collect a downpayment which goes towards purchase. I take alot of time with rent to own buyers to give full disclosure on how the program works and make sure their finances are such that they are getting into a long term sustainable program.
Caroline Hegarty, over 16 years ago
Sounds like you are having a good year! How do you structure your rent to own deals? Does some of the rent buy down the purchase price? Do you require a down payment as well as a security deposit? Do you spell out the rent to own provisions in the lease?
Jon Klaus, over 16 years ago