Make Money by Owning Real Estate
Find-Rent-Own Your Dream Home in Phoenix, AZ
This private homeownership facilitation program may help you find
the house of your dream today, move in tomorrow
and buy it when you are ready
For details call (480) 283-8759
Whether you rent or own - you always pay someone's mortgage… Make it yours!!!
Many first-time homebuyers (as well as second- third- etc. time homebuyers) have difficulties qualifying for a conventional mortgage. There are many reasons why this happens. Sometimes you just need a little more time to save for down payment or clear up some small credit issues. Unfortunately, the market doesn’t wait. Recently, home prices in the Phoenix area have been skyrocketing. A house that seems to be just right for you today will most likely become too expensive tomorrow. Meanwhile, you continue to rent-basically throwing your money away…
It doesn’t have to be that way any more!
Here is a simple four-step answer for anyone who wants to become a homeowner:
Step 1 –
We work together using both MLS and FSBO listings to find a house that fits your budget in the location of your choice. I apply my experience to help you pick not just a place to live, but also a great investment.
Step 2 –
I buy that house and rent it to you with the exclusive option to buy it from me at a later date for the price we both agree upon. I use my credit to get a lower mortgage rate than most people and part of that difference goes to you in the form of a lower rent.
Step 3 –
You take all the time you need to improve your credit or save for a down payment while actually living in your dream home. During this time, you have a security of the fixed purchase price no matter how hot our real estate market gets.
Step 4 –
When you have established a track record of timely monthly payments, built up enough equity and rebuilt your credit – you qualify for a loan of your own and become a proud owner of your dream home.
and tomorrow you may be moving into your
home-sweet-home!
Frequently Asked Questions and Answers:
Q:Can the Rent-to-Own approach be legally applied to a real estate transaction?
A:Yes, it is absolutely legal in all 50 states of the USA and any other country with a free-market economy where rent (or lease) agreements and option agreements are recognized as legal instruments.
Q:How exactly does it work?
A:In short, Rent-to-Own or Lease-with-Option-to-Buy (Lease-Option) contract combines a basic rental or lease agreement between tenant and landlord with an option to purchase contract between buyer and seller. The tenant/buyer pays to the landlord/seller an option consideration fee that gives him an exclusive right, but not an obligation, to buy the home under the terms to which both parties have previously agreed. This fee is non-refundable, but can be applied to the purchase price of the home. The tenant/buyer also leases the house for the duration of his option. Rent payments are usually made on a monthly basis. A portion of that monthly payment may or may not be considered a rent credit and eventually applied to the purchase price and/or the down payment of the home. At any time before the option expires, the tenant/buyer may exercise his option and buy the house from the landlord/seller.
Q:What is the difference between your Find-Rent-Own program and Rent-to-Own or Lease-Option programs offered by others?
A:The short answer would be: Your Choice.
Regular Rent-to-Own or Lease-Option ads apply only to a specific house. You, as a potential buyer, have very limited choice: take it or leave it. My Find-Rent-Own program puts you into the driver seat. First, we discuss your needs and decide on location, price, floor plan and other important features of your future home. Then we find such a house on the market. Finally, I buy the house of your choice and lease it to you with the option to buy. From that moment on my Find-Rent-Own program works the same as the regular Rent-to-Own or Lease-Option programs.
Q:Let’s say I know exactly what I want in my future home and would like to move-in as soon as possible. How long does it take for you to find my dream home and have it ready for me?
A:Usually, it takes about a month to find the house and another month to close the escrow. You may expect to move-in just two months after I start working with you.
Q:Is there any additional charge associated with the “Find” part of your program?
A:No, I make money on the sale of the house, when you exercise your option to buy. (See the next question for details)
Q:How is the Purchase Price for my future house determined?
A:Every house I buy goes through the professional appraisal as a part of escrow process. The appraised value of the house or my purchase price - whichever is higher - becomes the basis for your future Purchase Price. Every month you live in the house, its value increases by certain percentage. This is called appreciation of real property. The houses I buy usually appreciate somewhere between 1.0% to 2.0% per month. However, your Purchase Price will increase LESS than the value of the house for every month you spend in the “Rent” stage of my program. Essentially, we split the appreciation of the house between us, so that I get some return on my investment and you get instant built-in equity in your house the very day you become a homeowner.
Q:How is my monthly Rent determined?
A:The professional appraisal mentioned in the previous question will also show the monthly rent amount charged for the similar houses in the same or comparable neighborhood. In addition, we can do our own research to come up with the current market rent for the particular location. This will become your basic monthly rent. If you need or would like to receive credit for every month you pay your rent on time, we can discuss that on the individual basis.
Q:How much money do I need to put down in order to participate in your Find-Rent-Own program?
A:Your biggest expense to initiate the program would be the option consideration fee, which is only 3% of your future Purchase Price. In addition, you will have to pay first month rent and, in some cases, security deposit. However, I realize that every personal situation is different and am prepared to work with you in order to find mutually acceptable “win-win” solution.
Q:I have some credit issues that prevent me from qualifying for a mortgage right now. However, I am not sure how long should I stay in the “Rent” stage of your program to be able to qualify for my own loan. Can you discuss my situation and give me a definite answer?
A:No. I am an investor, not a mortgage broker. I can, however, recommend several mortgage professionals that I do business with on a regular basis. They should be able to answer all your questions, and then you will advise me how long you would like to stay in my program.
Q:I am already a homeowner, but know someone who can certainly use your program. Do I get any commissions or referral fee when I send this person over to you?
A:Please use the form below to contact me. I pay $200.00 referral fee to any private individual upon signing a contract with the referred person(s).
Q:As a real estate agent, I occasionally come across a buyer that cannot qualify for the house of his choice. What are my benefits of teaming up with you?
A:You can either get the referral fee as a private individual or earn your RE commissions on the particular transaction. I can also recommend you to my future clients. Please call or use the form below to discuss the details.
If you have a question that is not answered here or any comments - type in the window below and hit the "Submit Query" button. I will be glad to help. You can also call me any time at (480) 283-8759.
Please provide your phone number and email address, if you expect to receive a personal answer to your question. Privacy Policy: I do not store any sensitive personal information on my web site or server. I will never share your personal information with any other organization or third party.
Visit THE PAPER SOURCE and learn how to make incredible profits from cash flows -- FREE E-COURSE ON NOTES! Click on the logo:
