I respectfully disagree with both Brett and Dan...
Just as a seller would consult a Realtor when looking to sell their home conventionally (and pay a commission!!), its wise to do the same if you are considering selling a property via Lease-to-Own. Although it isn`t terribly complicated, there are legal dangers with "winging it" on your own. One could compare it to trying to sell conventionally on your own. I think the forum agrees that Realtors provide a very good service to the Real Estate industry.
From the original post, I don`t think David mentioned anything about sacrificing 50% of his profit...Outsourcing the facilitation of a Lease-to-Own tranaction should be in-line with what a Realtor charges.
In regards to RECA, I don`t think there are any specific rules against Lease-to-Own. As long as the transaction is fully transparent and all appropriate disclosures are made to ALL parties involved, RECA shouldn`t have any problems.
Of course, with the launch of REACH Housing Solutions Inc. (our Lease-to-Own company), I have a conflict of interest (thanks for the referral Monte!!).
Good luck with your properties!!
QUOTE (Dan_Eisenhauer @ Sep 17 2010, 01:17 PM) I agree with Brett.
RTO is not a difficult concept to understand. I suggest that you buy Mark Loeffler`s book, and/or look online for "Rent To Own" or "Lease Options". There is a huge mound of material there for you to get. Or get to know someone who has done a few and can give you advice.
You will need a good Option Agreement, and a lawyer who understands it.
DYI, and don`t give up 50% of your profits.