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"Rent To Own" As A Common Exit To Buying "Subject To"
Once you buy a house "subject to" the existing financing, you'd like to be able to sell or occupy the property quickly and with a huge marketing advantage right? Well, being able to offer the property on a "Rent To Own" can give you that marketing advantage and get your property sold or occupied very quickly--especially in our current credit markets.
By offering creative financing options like a "rent to own" to folks with less than perfect credit, but with enough income to afford the property you offer something that only a small percentage of sellers are offering in your market.
Provided you can collect a large deposit toward the purchase and make sure that the
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payments your "rent to own" tenant-buyer is making to you more than covers your expenses on the property, it could be a great way to minimize your vacancy and maximize the return on your investment.
Of course, even marketing a property on a flexible "rent to own" program does give you the occasional cash buyer as well. So, by offering a "rent to own" you significantly expand the number of possible candidates that would be interested in buying giving you a huge marketing advantage. A huge marketing advantage leads to more demand which usually translates into a faster, more profitable sale.
Until my next post,
James
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1 comment
portrayed themselves as the owners of the property and started building an addition which was both unstable and unsafe. The town didn't verify ownership nor did the building inspector ever check up on them. No amount of deposit covered the expenses I incurred. Make sure your contract covers everything. Thank god mine did.