Finding a House for Rent
Cheap Houses In Houston Texas – Trying to find a house to rent can be very frustrating. Most people complain that there are not enough houses to rent. You may find the right house to rent, but it’s not in the right area. Instead, you may find homes to rent in areas other than your desired neighborhood. As a means of finding more homes to rent, you may want to consider a rent-to-own program.
Houses in Houston Texas Generally, there are more houses for rent to own, than there are only those for rent. There is no need to worry that you have now committed to buying a home. Signing a lease-to-own contract means that if you want to buy a home at a later date, you have that option. But what if your credit is bad, or you don’t have any? For most investors, bad credit is not a big deal. Usually, they work with loan officers who will help you repair your credit, often in 6 months or less.
Houses In Houston Texas The great thing about renting to own a home is that usually, you get a rental credit, which can be applied to the purchase price of the home. Often, as much as 20% per month on all payments on time! Consider the following examples:
You find a house to rent, with a rent-to-own program. Option to buy price 200,000. After 24 months of rent to own this home, it is increasing in value at an industry average of 4% per year, bringing it to a value of 216,320. Now, let’s say your rent payments are $1,500 per month. At the end of two years, you will be paying $36,000 in rent. But wait! You have a 20% rental credit of $7,200!
Houses in Houston Texas for Sale If you choose to use the Option to Purchase, you could purchase this $216K home for $192,800! The best part is, NO REALTOR FEES! What bank will refuse such a loan? So if you’re trying to find a home to rent, you may want to consider renting a home as well. About the author: David L. Trosdahl has been the CEO of 3 regional sales & marketing companies and the founder of a corporate non-profit organization. A real estate investor since 1991, David has bought and sold many residential properties and has helped many people find homes to rent. David is a member of the real estate investors association: MNREIA is the founder of real estate investment websites: housesforrentinfo.com and many others.