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Rent To Own; When Does It Make Sense?
by: Lanard Perry

"Rent to Own" can make sense if you don't have good credit. When structured properly it can be a "win - win" for buyers, sellers and real estate agents.

-for buyers because it helps them get into a home they otherwise wouldn't be able to qualify for

-for sellers because it helps them sell homes in depressed real estate markets when few sell

-for agents because it helps them put together real estate deals by structuring creative terms and conditions specific to the unique needs and circumstances of their respective buyers and sellers.

Want more? Read this article. It provides more detailed information about the advantages and disadvantages of renting to own.

Summarily, every deal will not necessarily be a good deal, still if there's a deal for you why not be positioned to take advantage of it.

Rent To Own
by: Lanard

"Rent To Own" is also an option for buying a home. I was surfing the Internet yesterday and stumbled upon a web site that features rent to own opportunities all over the United States.

It reminded me of how prevalent "Rent To Own" opportunities are. They're very similar to a "Lease With an Option To Buy". They're so similar in fact that the differences aren't worth talking about right now.

The fastest way to find them is to be aggressive by advertising your interest. Run an ad on say "Craigslist" for FREE indicating the type of property you're looking for specifying that you're looking for a "Rent To Own". The ad could look something like...

"I Want a "Rent To Own" Property! 3 bedrooms and 2 baths preferred, but will consider similar opportunities. Max payments of $700.00 per month. Call me (Your name) at xxx-xxx-xxxx."

Your ad doesn't have to be exactly like this, but should contain enough information to filter out calls about things that you're not interested in.

You can also print and distribute real estate flyers indicating that you're looking for a property.

As a landlord/property owner "Rent To Own" deals are pretty sweet. I've done several of them and each one was as good if not better than straight rentals. Occupants tended to treat the properties better; for example, they kept them better maintained.

As a tenant/occupant the benefits are also notable. The occupants are establishing credit towards the purchase of the property and living for maybe just a little bit more a month than straight rent, all the while living in it.

If you're serious about buying a home "Rent To Own" is an option you should definitely explore.

Good luck,

Yes You Can...Yes You Can...Yes You Can
by: Lanard

Fernando - the short answer is "yes, you can buy a home". There are enough distressed properties, foreclosures and real estate owned properties available to provide a diversity of choices.

So, don't limit yourself to thinking that you have to purchase something using your VA eligibility.

While hard lenders might be unwilling to finance you because of your credit ratings there are plenty of homeowners, landlords and investors who are more than anxious to cut deals to minimize losses associated with their real estate holdings.

So, if you think along the lines of "creative owner financing" you should be able to find something to buy.

For example, think lease with an option to buy from banks, credit unions and mortgage lenders, where you agree to rent for a defined period of time with the right to exercise an option to buy after you've cleaned up your credit.

Be honest and tell them what you want to do and you might be pleasantly surprised to find that more than not will be willing to cut a deal.

Doing so can put both you and your ultimate lender in a win-win situation. They'll generate income on what is currently an empty property and you'll be living in the property that you want to buy while cleaning up your credit.

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