QUOTE (Merriora @ Dec 7 2007, 05:29 PM) Have you found any additional costs associated with rent-to-own other than legal fee`s? Thanks I can`t think of any additional costs... If anything, I would say there are less costs, no realtor commissions... Hope this helps,

QUOTE (Merriora @ Dec 7 2007, 04:06 PM) Thank you for your posts on the details of each program. I`ve had a chance to read through both programs and see Pro`s/Con`s with each one as they appear to be setup quite differently. Both appear to provide a win-win for both the company and purchaser...

Greg, We haven`t had anyone over the 4 year mark yet. We`ve had a couple walk away from the rent-to-own, for financial reasons of their own. Of the ones we have currently we expect at least 75% to be in position to qualify at the end. We also plan to help them out, if there is a shortfall...

Greg, We still own the property, so all mortgages, taxes and insurance are paid by us. Our strategy allows us to have long term renters in the property for 4-7 years, at which time they become the buyers of the properties we wish to sell, saving us the realtors commission. In exchange for not...

Bingbangboom, We have been offering rent to own for our tenants for about 3-4 years now. We offer a 4-7 year term, low down up front, and they get to accumulate 15% of their rent on a monthly basis towards the purchase. They take care of all maintenance, with our approval... We also allow...

Those are some great ideas! Over the years we have typically done hams and turkeys for our tenants, depending on the tenant. This year we plan on identifying our tenants into 3 categories. The first category will receive Christmas cards only. The 2nd category, Christmas cards and $15 worth...

21.) Depending on the mortgage you have, you may be able to request to "Skip a mortgage payment" once per year. Instant Cashflow! They simply add the mortgage payment to the end of the mortgage ammortization. We actually do this on our entire portfolio once per year, which allows us the cash...

I am probably one of the biggest fans of assumable mortgages. My partner and I have built a business over the past 5 years, purchasing over 50 properties and not once having to go to the bank to apply for a mortgage. We have assumed them all! We have noticed that the market for assumables...

Jarrett, Greg, That is exactly how our lease works, we set the rent for market rent after the incentives are given... ie. if market rent is $1,200 then our base rent is $1,300. We also include in our leases a late fee too! The rental incentive is something that makes good tenants feel...

That is some good feedback so far. Keep them coming.... Especially out of the ordinary examples, ones that make you really go WOW! The benefit of this exercise is that there are property managers who will read this thread and hopefully impact their businesses to the better, which in turn will...

We also allow pets, this is how we handle it: 1.) First we charge a non-refundable $200 pet application fee. In Alberta you can not charge an additional pet deposit if you are collecting a full months security deposit. 2.) We also charge additional rent in the amount of $25/pet/month. As a pet...

Hello all. Looking for some feedback: 1.) What have property management companies done for you that make them stand out as exceptional companies. 2.) What have they done to turn you off to them? Please, any and all feedback from people that have used or are currently using PM services...

Discounting rent... positive or negative? Well, it seems that most people are not in favor of this practice because of how the renter may view it... I`m going to be the contrarian on this one. I have actually been using an "on-time rental incentive" for around two years now. I am a fan of it...

I personally believe that the REIN membership is a must for anyone interested in real estate investing to any large degree. I have been a REIN member for 4 years and have been investing in real estate for 5 years. The first year we started investing we purchased two properties and took the...