What is the proper way to set up a rent to own

[JPAQ]

Greetings,



I just purchased a new house for my family. I would like to do a rent to own on my existing house in St Albert. I am wondering how a person puts one of these deals together so it is a win-win situation for all the parties involved. If there is anyone out there who has successfully done a couple of these deals I would like to talk to you on the phone or if you do happen to be around the St Albert or Edmonton area I would like to take you out for lunch or dinner so I can pick your brain. These are a couple of questions that I am looking to get answered.

• How long should one of these contracts last for?
• What are homes expected to appreciate by in the next 4 to 5 years? Does a 2 to 3 percent appreciation per year sound good?
• What kind of down payment percentage wise should I be asking for?What is the best way to market a rent to own to a potential client?How do you go about screening the potential client?

Thanks for your help

,



Jason Paquette

780 953 6794

 

[GaryMcGowan]

I recommend reading Mark Loeffler`s book. It explains all your questions.

http://www.theversatileinvestor.com/book-r...ent-to-own.html

 

[JPAQ]

QUOTE (GaryMcGowan @ May 1 2010, 09:42 AM) I recommend reading Mark Loeffler`s book. It explains all your questions.

http://www.theversatileinvestor.com/book-r...ent-to-own.html

Thanks Gary,

I picked up the today. I can`t wait to read it. I`ll keep you posted.

Cheers,

Jason Paquette