rent-to-own Tag

Charlotte Property Management Weekly: The Top 3 Reasons Why Good Property Managers Matter More Now (Reason #2)

Traditionally, this could be considered a “lowering” of standards; however, in today’s market, I would argue that it is understanding, collecting, and interpreting tenant data better. Tenant selection has become more of an art and less of a science.

And this makes it much harder!

Charlotte Property Management Weekly: The Top 3 Reasons Why Good Property Managers Matter More Now (Reason #1)

1. If this economy has taught us anything, it is cash is always king and real estate is an investment. The ONLY decision criteria for hiring a prospective property manager should be their ability to maximize the cash flow of your investments. Period.

Charlotte Property Management Weekly: Top 6 Miscellaneous Tips for Rent-To-Own Deals

5. What about the much publicized “higher rental rates” you hear about that rent-to-own arrangements command? I don’t see evidence of this. Does this ever happen? Sure. Does it happen often in competitive markets? No. As an example, try to list your rental home for $200 above market rate as a “rent-to-own” and see what your response rate is. There are plenty of rent-to-own opportunities at market rate rent (or below).

Charlotte Property Management Weekly: Signs of the Times: Layaway and Rent-To-Own Are Back!

If you owe the bank $100, that’s your problem. If you owe the bank $100 million, that’s the bank’s problem.
(J. Paul Getty)

This can easily be reworded to fit today’s real estate market:

“If you can’t get financing to buy a house, that’s your problem. If millions of people can’t get financed, that’s the home seller’s (and their real estate agent’s!) problem.” (Brett Furniss)

Charlotte Property Management Weekly: It’s All About the Narrative: The Key to Maximizing Your Rent-To-Own Client’s Value

“I can’t sell this couple on anyone. If their financial history was made into a movie, it would be in the “Horror” section. Well, the “Drama” section would fit, too. And with eight kids, it could probably be get into the “Adult Content” section as well… (Charlotte Realtor bemoaning the plight of their rent-to-own client with less than stellar credentials)

Charlotte Property Management Weekly: Why Don’t Big Real Estate Firms Embrace Rent-To-Own?

So, I thought about it. These people running these firms must be really smart (I’m not being facetious at all); they’ve made a lot of money for a long time. Why are they so anti-rent-to-own? Why are they scaring their agents with stories of disaster and endless risk? Smart people don’t make strategic business decisions on a whim. So why are they so overtly steering away their agents from rent-to-own (lease option) transactions?

Charlotte Property Management Weekly: Drive + Drink = Lease + Option?

“Lease options might be the worst idea ever. Who would ever be a party to one? I tried one once and it was a complete disaster! I mean, I’m not a lawyer- there’s just so much that can go wrong; I don’t have firsthand knowledge of this mind you, but I’ve heard lots and lots of stories.” (Traditional Realtor)

“Combine two innocuous substances and “Walla!” A homemade bomb.” (Al Qaeda training manual quoting a MacGyver episode)

Charlotte Property Management Weekly: “Terms” of Endearment- The Key to Selling Real Estate Buyers

If you were offered both of these jobs, which one would you take?

Job #1: $80K annually
Job #2: $30K annually

Duh, the $80K one.

Now let’s look at the job descriptions:

Charlotte Property Management Weekly: Former BOA CEO Ken Lewis Teaches Real Estate Investing

Ken Lewis is the man. You might have read and heard things in the news during the past year saying he is not the man, but they were all wrong. He’s got an unbelievable instinct for investing creatively. And he’s got the guts to execute.

If you live in Charlotte, you must heart Big Ken; it’s required. He built the entire town, kept the headquarters here as he grew Bank of America (BOA), and made sure his bank was actively involved in the community.

Charlotte Property Management Weekly: Is Rent-To-Own a Scam? Wait- Who’s Laughing?

“If you can’t spot the sucker in the first half hour at the table, then you ARE the sucker.” (Matt Damon in Rounders)

Back in 2006 when life was good and real estate sales were plentiful, I got a call from a friend of mine from New York City.