Rent to Own

by Allan Peters
(Winnipeg, MB)

Looking at a small starter home in a working class neighbourhood. Comparable is a rent to own property. I'm not familiar with how this works - here are the details on the comparable: Rent is $899./mth. or $5,000 down & rent of $1,099. credit back of $300/mth add to the down payment. After 36months = $15,800 towards purchasing the home.

The house I'm looking at is selling for $109,900 taxes are $1089/yr.

Do you like the Rent to Own process - have you used it? Pros/Cons?

Comments for Rent to Own

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Aug 17, 2016
by: Tom

Thanks for the question.

We have a lot of experience with Rent to Own. In our opinion, it works well in the high-end of the starter home market. So figure out what the starter homes are in your area and then would pick the higher end of that price range as our perfect property.

There are a lot of pros and cons too. You can download a copy of our book where we cover a lot of this here: www.RockStarInnerCircle.com , we have examples in there as well.

Hope that helps!

Tom

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