I am not a new real estate investor, but I am new, as an investor, to the concept of the lease purchase. I have known about lease purchasing for some time since I`ve known many people that have lived in rent to own homes themselves, but I have never before considered it as an investment technique. I am looking to expand my real estate business to include lease purchase/ lease option as a technique I use. How does the current mortgage crisis affect a potential homeowner's views of doing a lease purchase deal- does the current market scare them away, or is getting into their own home more important than possibly having the house lose a little bit of value? Generally, what markets/states are best or most popular for people looking for a rent to own house to BUY? Thanks a lot.
I see this market as the Perfect Storm stage of real estate investing. With the downturn merely in the beginning stages, (in my opinion), there are more motivated sellers than ever. Explaining a creative approach as a solution to their problem is so difficult these days, and you’ll be surprised at the reception.
On the other hand, tenant/buyers are fussier than in the past. But with the mortgage industry tightening their standards, this is forcing more folks to look at lease purchasing as a way to get into their future home.
All in all, a good time to be a real estate investor.
Im in Florida and Lease opt. is the fastest easiest way to sell right now. actually its alwayst the quickest most effiecent way. But your tied to the property for a long time, and you always have that worry are they going to pay??? But usually they do and it all works out.