Rent to own options ?
Does anyone know of any good rent to own financing options out there right now.  I have a bunch of good tenants that would love to buy the places they are living in ?
[{"id": "cpjjlev", "text": "I've never seen a rent to own that went through a bank. I assumed it was more of a Landlord/tenant arrangement. \n\nI considered a rent to own on my last rental home. Every bit of research I could find said that it's almost always a shitty situation for the Tenant. I remember reading some crazy statistic...something like only 10% actually make it to closing. ", "replies": [{"id": "cpk4n5v", "text": "for 99% I imagine its like the buy here pay here car lots.  \n\nThere was a company doing this in a few states (texas maybe?) where you could basically pick a house, they'd buy it and lease it back to you with an option like x% over the purchase price.  I can't remember what they are called or have no idea how scammy they are though..... with enough searching I bet you can find them though OP", "replies": [], "depth": 2}, {"id": "cplhrav", "text": "I'm surprised there aren't some banks out there catering to all the decent people that have jobs, credit, but cant get bought for one reason or another.  I have quite a few tenants with 2+ yrs of perfect payments at double what a mortgage would cost.", "replies": [{"id": "cpm1mk1", "text": "If they have 2 jobs and credit what is the problem?", "replies": [{"id": "cpm9651", "text": "9-5 people who thought they were RE investors in 2008.  Clocks cleaned, credit beat up but jobs intact and now 2-5 yrs of perfect rental history.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "cpkarpo", "text": "This is anecdotal, but in NC they frown on rent-to-own. More common and recommended by the Real Estate Commission is seller financing. Better option if T doesn't qualify for a mortgage.", "replies": [{"id": "cpm1kmi", "text": "From what our lawyers always tell us when this stuff comes up its the same here, any rent to own type document is likely to be interpreted as a land contract even if it doesn't meet the requirements for it, and then the laws in regards to that will be applied to whatever bs rent to own contract you came up with.  \n\nIE once your downpayment, or rental equity reaches a certain % your eviction will get dismissed and you will have to file a foreclosure, even if you call them a tenant all day long.  \n\n//get a lawyer etc, stuff gets complicated and that rent to own contract you got at that seminar isn't going to cut it", "replies": [], "depth": 2}], "depth": 1}]