![]() ![]() I’m ringing the bell - real estate news alert, alert! Rent-to-own is not as good as what we have available to us right now. So I’m going to be adding more information on the LA loft blog about rent to own, and how renters are usually going to end up paying a lot more money, and they will be putting more down payment on a rent to own.įortunately, these prospective home buyers can instead find the right deal, such as an amazing loft for sale in downtown Los Angeles, or many other properties in California (in some other States as well). This ZERO DOWN deal was not previously available. So we have something that’s better than that. With renting, you usually need to put down a couple months of rent. So, we have now something - lofts - that are far better than rent-to-own because you can often end up putting less down, sometimes nothing down. A 0% to 2% down home loan, which is the same as if you were going to rent a place, or cheaper than if you’re going to rent to own, because you’re going to be paying a lot less money for the property if you just buy it and put down an extremely low down payment or no down payment - LITTLE OR NO DOWN PAYMENT.īetter than rent-to-own result, much better than a rental: a real estate purchase. Many amazing properties with reduced prices and reduced payment. So, we have what is equivalent or better than rent to own right now that just became available. So what are the reasons why some people want to do a rent-to-own real estate transaction? What are they trying to accomplish? They want to own a property with a low down payment or no down payment. So that’s why, for my team, in 10 years, we’ve never done rent to own in Los Angeles. There are so few of that, whoever wants them is unlikely to want to live in that particular neighborhood, in that location or in that property. But is it practical? Is it practically possible? No, because there are too few. ![]() I mentioned in my Anchor audio webcast episode that I’ve gotten more than one phone call, over the past 10 years from people asking if they could rent to own real estate. That’s why I’m talking about rent-to-own now with the real estate. Most memorably, when my parents owned homes, we were always a lot better off than we were when we rented. My mother was not rich, but she knew enough not to rent to own if you can pay cash or get a good deal with regular financing. “What do you think about this, mom?” Because I knew that when you’re doing a rent to own, you end up paying a lot more money for it when all is said and done. I just brought up the subject to my mother. We can get a - I forgot what I wanted - maybe a bigger television or something for a $25 a month or whatever. First, some background: I’ve been aware of, since I was about 14 years old, in 1980, there was a store that had some furniture and televisions, appliances and so forth, a rent-to-own retail store. ![]() So I wanted to talk briefly about something related to low down payment because I mentioned rent-to-own. I just finished doing another Anchor audio webcast episode about low down payments. Your Home sold GUARANTEED or I’ll Buy It*. Are there any good rent-to-own properties for sale, or are there programs for moderate income and first time home buyers with no down payment? For years, the answer was usually “no”. REAL ESTATE NEWS – URGENT UPDATE: DOWNTOWN LOS ANGELESįor years, our real estate team has occasionally been asked by prospective home buyers if we can help them rent to own a home in the Greater Los Angeles Area. Rent-To-Own Homes, No Down Payment, Zero Down on L.A.
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