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How a Rent to Own Can Help You in Troubled Times
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With the recent negative economic situation and its effect on the housing market, homeowners have been stuck trying to sell their homes, and have had to watch as their home value slipped and they had to keep making payments on their home.
On the other side of the table, the economic situation has affected many potential buyers of homes as well; due to job losses, missed mortgage payments, heavy debt, and ultimately, bad credit, they have been unable to procure a mortgage for a new home. Couple this with the fact that banks hit a standstill where they were not making loans and it is a slow recovery for them as well.
A solution for both homeowner and potential homeowner would be a "Rent to Own Home", which is basically an arrangement whereas the homeowner allows a "tenant" (potential homebuyer) to rent their home, with an option to purchase that home at some pre-determined point in the future at a pre-determined price.
This would benefit the homeowner by having someone renting their home, making their monthly payments, taking care of the home and even potentially making repairs. This works for you if you are selling your house on your own (For Sale By Owner, or FSBO), or if you are listed with a realtor, this opens up a whole new market for you - buyers who cannot qualify for a mortgage now, but perhaps they will be in 6-24 months down the road.
As a potential homebuyer, a Rent to Own is an ideal situation, as it permits you to "try before you buy" to see if you like the home, the neighborhood, the schools, etc.
As a caveat to both types of individuals described above, always check out the local rules/laws in your state, town, or municipality, as there are big differences depending on where you live. You'll want to confer with a real estate agent and perhaps a real estate attorney as well.
For both Buyers and Sellers of Homes, Rent to Own may be your best option in any type of economy. Rent to Own could just be the solution to your problem!
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 | Robert Eisenstein |  |
Robert Eisenstein is the President and Chairman of HomeRun Homes. His company specializes in the Rent-to-Own and the Lease-to-Buy segment of real estate investing. He has led the company through a number of ups and downs in the Real Estate market since 2002.
Robert Eisenstein holds a Bachelors in Business Administration from Baruch College in New York City, and has both a Financial and a Technical background, which makes HomeRun Homes the force that it has become. Robert got his start some 8 years ago when a good friend asked if he was interested in investing in properties in Florida, inviting him to tag along to check it out for himself. He quickly left the major NYC corporation he was working for and has been investing in real estate ever since.
Robert Eisenstein has remained successful by focusing on the rent-to-own segment of the real estate market. HomeRun Homes has also expanded in other markets of real estate and has received extensive media coverage. Robert Eisenstein is also known as the "Lease To Buy" guy.
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| Copyright Notice | |
Copyright 2002-2011 All Rights Reserved.
Published with Permission of Author.
No part of this publication may be copied or reprinted
without the express written permission of the Author and/or REIClub.com. |
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