Posted by David on May 13, 2004 at 01:05:44:
EXCELLENT advice here! I have done the same and can vouch for them. Just put up a sign and ads/flyers offering rent-to-own and the monthly rent. The calls will come. Be sure to get pertinent info on file, as you will be collecting a database of tenant-buyers for you next deal.
David
rent-to-own - Posted by Albertha
Posted by Albertha on May 12, 2004 at 14:53:29:
My question is when I advertise a home as a lease or rent to own, should I say in the advertisment that a deposit or downpayment is required and should I specify how much. I am testing the market at the present time to see how I might proceed with the selling of this property. This house was supposed to be a 2 apt. but the apt. was never finished as such. I may finish the apt. as a selling feature; it sure would help with the monthly mtg. payments which are very high. Thank-you for your input.
Albertha
Re: rent-to-own - Posted by DP (ON)
Posted by DP (ON) on May 12, 2004 at 18:23:01:
No you shouldn’t put it in the ad, if you’re asking $5k and the buyer has $10k, do you think you’re going to get the $10k? Not likely.
If you want to weed out some of the low-income tire-kickers, I’ve found putting the payment in the ad works well. In my experience it doesn’t reduce the number of calls by much, but most of them can afford the payment. And when they can afford the payment, they often also have the down payment you’re looking for.