Why should an investor have rent-to-own as part of his or her investment portfolio? This book lays out in clear detail the benefits of rent-to-own and how to get started with a rent-to-own strategy. Loaded with tips and case studies, here are the core components of the system:
- How to identify properties
- How to carry out due diligence
- Smart financing strategies
- How to market your system and attract interested tenants-homebuyers
- How to identify and choose tenants-homebuyers
- The rent-to-own contract
- Obligations of the investor to the tenant-homebuyer
- Obligations of the tenant-homebuyer to the investor
- The team of experts: agent, lawyer, lender, home inspector, accountant
- Exit strategies
There are many singles and couples who for a variety of reasons opt for a rent-to-own opportunity. For some it's an opportunity to check out a location for a couple of years so that they're certain it's the house and neighborhood they want for the long-term; for others it's the desire to own a home but need to grow their down payment-having a nice home while they save is a terrific option. The expertise of the investor in identifying the right property and providing the right financing is another significant aspect for the tenant-homebuyer.
The benefits for the investor are many: a solid property in an area where the fundamentals are strong; great tenants who respect the property; a profitable investment even with a downturn in the market.
Investing in Rent-to-Own Property is the quintessential tool for investors who have yet to take advantage of a proven money-maker or for those investors who want the benefit of a proven system to build their portfolio.
How to Use This Book.
PART 1: GETTING STARTED WITH RENT TO OWN.
Chapter 1: Rent to Own: An Overview.
Chapter 2: Traditional Rental vs. Rent to Own.
Chapter 3: Tenant–First Rent to Own: An Overview.
Chapter 4: Building Your Network.
PART 2: FINDING A TENANT.
Chapter 5: Who Are the Candidates for Rent to Own?
Chapter 6: The Secret Is the Tenant–First Strategy.
Chapter 7: The Tenant Application Form.
Chapter 8: Qualifying Applicants.
Chapter 9: Doing Your Due Diligence.
Chapter 10: What Credit Bureau Information Can Tell You.
Chapter 11: The Financial Analysis Spreadsheet.
PART 3: FINDING AND PURCHASING THE PROPERTY.
Chapter 12: The Tenant Finds a Home.
Chapter 13: Financing the Rental Property.
PART 4: THE PAPERWORK.
Chapter 14: Various Agreements and Option to Purchase.
Chapter 15: The Deal Closes.
Chapter 16: Tenant FAQs.
Chapter 17: Worst–Case Scenario.
Appendix 1: Checklists.
Mark resides in the beautiful High Park neighbourhood in Toronto with his wife and young daughter.