Landlords??? Rent to Own???

[gaffer]

I know that there are a couple of guys here that are landlords and I was wondering if any of you have done a rent to own?

Alternatively, does anyone know a good realestate lawyer that does not charge an arm and a leg?

Andrew

[R-Audi]

Re: Landlords??? Rent to Own???

I'd be thrilled if someone proposed a decent rent to own... but I guess it depends on the Mortgage amount.. if you have lots of equity built up already and you are profiting from the renters.. you might not be as willing.. but then again its always nice to recognize that gain if given the chance.

[gaffer]

Re: Landlords??? Rent to Own???

I do have significant equity in the rental unit, but I have used that as leverage on the new place.

In a rental market with many options I wanted to have more choices. As it turns out, I know have 1 house and 2 qualified renters that want the place. Damn if I only had another house.

Andrew

[Canadian Turbo]

Re: Landlords??? Rent to Own???

I think it would all come down to finding the right tenants, so if you have that then it could work, but in my rentals I have not been that lucky.

[gaffer]

Re: Landlords??? Rent to Own???

I think it would all come down to finding the right tenants, so if you have that then it could work, but in my rentals I have not been that lucky.

I actually have the opposite problem. I have 2 great tenants that want the place. One is a newly married Christian couple who want the rent to own.

The other is a family that are looking to sign a multi-year lease.

Andrew

[liquid]

Re: Landlords??? Rent to Own???

My renter sucks. In all honesty, I would charge 10-15% less rent if I could find someone I trust, and who pays their rent on time!!

How are the rent-to-own deals usually structured?

Does anyone have any rental properties outside Canada?

[gaffer]

Re: Landlords??? Rent to Own???

My renter sucks. In all honesty, I would charge 10-15% less rent if I could find someone I trust, and who pays their rent on time!!

How are the rent-to-own deals usually structured?

Does anyone have any rental properties outside Canada?

Funny you should mention that. I was just on San Diego/LA/Phoenix/Tijuana/Mexicali/Yuma/Palm Springs and have been looking into a couple of places to purchase. I have a built in rental market there as most of my clients that I send south for surgery want to stay in California for an extra couple of days either before or after thier surgery.

I have been asked 100's of times where they should stay. If I could have them stay at my own rental place, that would be sweet. I dont have the capital right now to put a down payment on it since I have 2 houses here in Calgary. I was looking at the possibility of setting up an investment club/company to get some freinds together to buy the property and hold onto it for some time while the market turns around. I am going back in early April for some meetings and to look at some potential properties.

I guess I am going to have to buy Blair some lunch or something as I will be hitting him up with a million and one questions.

Andrew

[liquid]

Re: Landlords??? Rent to Own???

I'm currently looking in the Scottsdale area, and might go down in the spring/summer to look physically.

I say we just kidnap blair, and make him answer our questions.....

[Canadian Turbo]

Re: Landlords??? Rent to Own???

I say we just kidnap blair, and make him answer our questions.....

The lunch sounded a little bit nicer

[turbomeyers]

Re: Landlords??? Rent to Own???

naa kidnap him he likes it

[gaffer]

Re: Landlords??? Rent to Own???

I'm currently looking in the Scottsdale area, and might go down in the spring/summer to look physically.

I say we just kidnap blair, and make him answer our questions.....

I was in that area as well. There is a ton of property there for pretty cheap. I am looking closer to the coast as it is more useful as a vacation rental, and most of my clients fly into San Diego, LA, or Palm Springs.

Oceanside where I am looking is situated nicely between all those places. As well it has good proximity to Lego Land, Disneyland and the rest of LA, Sea World, San Diego Zoo, San Diego Zoo Wild animal park and shopping (Carlsbad has outlets for those that want those, and La Jolla is a very high end town with lots of boutique shops and galleries).

Golf courses are also all over the place with Torrey Pines being about 15 minutes south.

Oh yah, did I mention the ocean and the beaches?

Andrew