With rent to own you can still collect a monthly cash flow as though you are renting
House Buyers Charleston SC: When you see that you won’t necessarily see success at this point by buying and quickly reselling the house due to the glut of homes for sale, you’ll most likely determine that you would be better off holding the property for a while until things stabilize. When the market moves toward normal and more balanced activity you can try to sell again with improved equity in your properties.
You can rent the houses out for a while until you think it’s a good time to attempt to sell. There is a way to get the sales of your properties moving now, though. If you offer a rent to own situation you might find that you will be well on your way without waiting for the market to turn around.Many people that have lost their homes or who missed the opportunity to get easy mortgages when the money was flowing from the lenders would still like to own a home.
Offering them a chance to rent form you with a portion of their rent going toward the down payment on the house or even against the principal could turn out to be a positive for both sides of the contract.You’ll be giving a family the chance to try again if they’ve lost their home and are starting over. You can be the one to sell a house to someone who doesn’t have the resources to come up with a large down payment or the newer stringent criteria required by the lenders for a traditional mortgage.
With rent to own you can still collect a monthly cash flow as though you are renting, but the renters will be also putting a small amount toward the purchase of the house.This is a fantastic way to give your tenants ownership pride while they are in your real estate properties.The likelihood of those renting to own that would take pride in their home and take care of it is very good. Unlike tenants with no ownership in their residence, a rent to own tenant is a buyer and you will most likely see a big difference in the way they treat the home.