The Rent To Own Solution
Volume 3, Issue 1
Let's imagine for a moment.. What if you and your family could move into your dream home today without having a large down payment? What if you could tell your Landlord that you are going to start funding your child's college education instead of his retirement? What if you could stop throwing away your rent money and have it working for you towards the purchase price of a new home? What if you could move into a house and "try it" before you "buy it"?
Stop Imagining! The time has come to discover the rent to own solution. Rent to own, AKA Lease Purchasing, is THE way to get into a home with a small up-front payment that is applied 100% toward the purchase price of your home.
Most rent to own agreements are for a pre-set term where you can lock in the purchase price today and can buy anytime during the lease.
You can shop around for the best loan, clean up your credit, "try out" the house, and decide on any improvements before you make the purchase.
Any improvements that you make and any appreciation in the value of the home are yours to keep if and when you purchase the property.
Renting to own will give you total flexibility. You will have the right to buy the property with the price locked-in today. However, you are not obligated to purchase! The choice is up to you!
~ Damon Boudreaux
Lease Purchase Specialist
The Rent to Own Process
There are four main components of "renting to own" you own home.
1. Purchase Price
The purchase price is locked-in from day one. That means when appreciation occurs, you will be building equity in the home that will be yours if and when you buy. That equity can help offset any down payment requirements at the time of financing. Instead of just renting and throwing your money away you can have it working for you this way.
2. Option Consideration
This is money that is required to move into the property. It is 100% applied to the purchase price of the property if you buy, but non-refundable if you don't. The average amount of upfront payment is between 2.5% - 5% of the purchase price of the home, depending on the property. Again, this is 100% applied towards the purchase of the home when you buy.
3. Repairs and Maintenance
Before you move into your new rent to own home, you can do a "walk through" or inspection to make sure everything is working properly. However, after you move in, you will be responsible for all maintenance and repairs on the property. However, if you make any upgrades to the property those are yours to keep when and if you buy the home.
4. Terms
All of our rent to own agreements are for a preset term. They usually last between 1-3 years. The price is determined at the beginning of the agreement and cannot be raised for any reason. During this time, you will enjoy the benefits of ownership, and the luxury of time to clean up your credit and shop for the best financing. It will be your responsibility to get all your "ducks" in a row and get ready to purchase. However, we can help guide you through the process to help you improve your credit and qualify for the best loan in the future. This alone can save you tens of thousands of dollars.
Top 7 Reasons to Rent to Own
1. Appreciation
If the property appreciates (or goes up) in value during the lease, you have already locked in a lower purchase price. That appreciation will be yours to keep.
2. Upgrades
I am sure you are reluctant to upgrade a home for you landlord. With a "Rent to Own", any upgrades are yours to keep if and when you buy the property.
3. Security
Every wonder if the landlord is going to ask you to move, or raise the rent? Don't be a hostage. With rent to own, you know the price, term, and rent.
4. Financing
When you normally buy a house, there is a 30-day closing. In a normal purchase you are rushed and may wind up overpaying. With a rent to own, you will have time to shop and save thousands.
5. Credit Repair
Everyone who gets into a rent to own home, will be offered the opportunity for credit repair training. I don't care if your credit score is 500 or 700. Raising your credit score will save you thousands of dollars in your lifetime.
6. Down Payment
You don't need a huge down payment to get into one of our homes. Many banks want a 10-20% down payment. With a rent to own, it is much less. You can move in today and have time to get your finances in order.
7. Financial Benefits
Long term wealth is built by owning your own home.
We have 2 different programs to suit your needs!
None of our programs require upfront bank qualifications or perfect credit.
1. Rent to own a home we already have
After our initial contact in which we find out exactly what you are looking for including down payment, monthly payment, time frame, size, and location. We will contact you and notify you of any homes in your area that match your criteria. If we have one that you like and would like to move forward, you will need to put down between 3%-5% of the purchase price of the home. If we currently don't have a home that meets your requirements, we will notify you as soon as we do. There is no charge to be added to our list of buyers looking for rent to own homes.
- This program is right for people who have at least 3%-5% down.
2. Rent to Own Consultation
- Do you want to buy your dream home with little to no money down?
- Do you want to pay below market rent and get an excellent purchase price?
- Are you the do-it-yourself kind of person?
This is your program.
You will work 1-on-1 with Damon Boudreaux, "The Lease Purchase Coach". He will train you how to find your own rent to own home without dealing with the traditional hassles of banks and credit checks. He will show you how to negotiate with sellers, lock up your dream home, provide you with the agreements that will protect your interests, and much much more. We charge an upfront fee for our consultation services.
- This program is right for those who don't have at least 1.5% to put down on a property, or just don't want to put anything down.
We give you the knowledge and 1-on-1 support, you do the legwork. Why not work with a consultant for the most important investment of your life? Please schedule a call below for more information.
Testimonials
We wanted to thank you for all of your help! We have been looking to buy our first home for a while now but the doors keep slamming in our face, that is until we tried your program. In just 15 days we were able to get into our dream home. You helped us anytime we had questions along the way and provided us with everything we needed. From the bottom of our hearts we thank you! ~ Jeff & Patty
We never knew anything about renting to own until we were put in a position where we had to move. Our landlord notified us that he was selling his property that we were renting so we would have to move. We really wanted to buy a home of our own but our credit was holding us back. Thanks to your program and the 1-on-1 training we were able to do just that. It only took us about 3 weeks to get into a beautiful home of our own! We even got into a better school district for our kids. We're so thankful we found you and your program! ~ Rachel & Derek W.