@@bsce100 HOA is $122 per month and there is No CDD.

Thank you!

Credit requirements for the program I used with this client was 550, minimum income of $55k, and 2% down.

Yes, but I would not spend any major money on the property until you have purchased it back from the Lease to own company otherwise you could be fixing it up for the next buyer.

You can give me a call at 713-878-1734 or text me your information and I will call you. The community is Rhett's Ridge in Apopka, FL. It is being developed by Lennar Homes. I am working with an investor who is purchasing 35% of that community for Rent 2 Own. Right now we have 12 homes already to be leased or purchased including 3 multi-family properties called next-gen homes.

Are you referring to Home Partners of America?

This was through DR Horton.

Let’s jump on a call tomorrow and we can go over the details and qualifications. My cell is (713) 878-1734. Text me your information and I will follow up with you. Thanks

This Next Gen home is located in the Rhett’s Ridge neighborhood in Apopka, Florida. 4 bedroom 3 bath corner lot, 2,650 sq.ft $603,990 purchase price Rent to Own option as well on this home. 2% down, $3,800 per month

There are a few homes available in Orlando. We can also use a program like Landis Homes to purchase homes in the Orlando area.

@@DeztheRealtor Thank you!

You can purchase foreclosed homes with NACA, but most of them homes have to have a court approved offer. If it's already in foreclosure and no longer in the pre-foreclosure phase, then bank owns the property, and it would be even harder to get the offer accepted since they are looking for a quick sale of the property. NACA takes their time closing on homes. But to answer your question you would have your agent submit the offer same as on any other property. If its bank owned, then sometimes it's listed for public auction. Those are risky because you need to put down a deposit to hold the property. If you fail to close withing the time frame given, then you could lose that money.

You can check the Website to see if a home will be in a qualified area. Other than that the home just needs to be move in ready.

Agents get paid after the home closes. Same as any other transaction.

Yes. I’m in Orlando. My cell is (713) 878-1734. Text me.

Did you get to move in?

Meeting Minimum income doesn’t mean you qualify for a home. Your income and debt to income ratio determines your budget. They use the minimum income requirement because they will not purchase a home less than a certain dollar amount.

@@DeztheRealtor So... $78000 net means you're making over $100k/annual, right? Somewhere around... $105-110K? Is this a solid minimum requirement? And what sort of monthly cost are we talking about at that point? $3k? $4k? Is this a 1-year loan? 3? What's the interest rate? WIth that, plus living expenses (power, fuel, water, food, et, I'm trying to understand the actual requirements here, as my spouse and I are currently looking, but finding drastically inconsistent information on R2O homes.

@@ArtemisKitty all rent to own homes have drastically different qualifications. That’s probably why you see different things posted. These companies consistently change requirements based on market conditions. Currently options for rent to own opportunities in Central Florida or down to just Divvy Homes, and a few New Construction homes that Homes Await has. If you are in this area you can reach out to me privately to discuss your situation. My cell is (713) 878-1734

@@DeztheRealtor Ah, thank you! Either my spouse or I will reach out to you. (Currently at work, so cannot talk, but shall definitely reach out, thanks!)

These home were all over central Florida purchased by Homes Await. They currently do not have anything else available outside of direct purchases. There are other programs such as Home Partners of America, and Landis available to purchase with.

You would have been perfect for this particular program. This was with a small private rent to own program that purchased 50 homes in Orlando area. All the homes leased through the program within 60 days of them being available. They currently don't have anything available.

So, I'm fully aware that Rent-to-Own programs may not be for everyone. But the reasons why they would purchase using a rent to own program is because they can't qualify for a New Construction home or any home for that matter. It takes more than downpayment to buy a home. In order to buy a home, you need Income, Credit, and Money for Downpayment and Closing Cost. None of these things are possible if your credit score is not good. There is a 100% FHA product available right now, but you need a 620 to qualify. The hometown hero program offers up to 5% to assist with downpayment and closing cost, but you need a 640 credit score for that. I need you to understand that renting is the same as rent-to-own, just without the option to buy. My question to you would be, when you are renting an apartment or a regular home, the rent also changes after the lease expires, and then you have the option to renew at the higher price. So how much of that rent are you saving, and how is the rent-to-own model any different? It's actually the exact same State of Florida standard rental lease you are signing with one additional addendum added on with the purchase option. You either pay a mortgage or rent. The buyback price on Rent to Own homes are misleading because they are not paying full asking price for any of these homes. They are getting these homes with massive discounts. The buyback price is based on the actual purchase price. So, your buyback price should be current market value. By locking in the purchase price today, you have time to fix all those other issues that is keeping you from buying without the price of the home changing. As you can see the young lady's comment below yours. They lowball every offer. You will get a home most likely $20,000 below market value or they will not buy it.

I’m not sure what type of homes you are looking for, but I can tell you from experience they low ball almost every offer. However I have noticed that the offers we submit on newer homes are always with $5,000-$15,000 of asking price. This will give you the best opportunity to get an offer accepted. Also try to submit offers on homes that have been sitting over 30 days. I can almost guarantee if you submit an offer lower than asking price for a home that has been on the market for a few days, the seller will turn down the offer. They may circle back in a few weeks if they don’t receive a better offer, but those are some of my best practices when submitting offers. Landis Homes submits better offers, but they also require you to put down 2%-3% of purchase price.

You would need to provide tax returns from last year and this year, but they would work with you all the same.

Thanks for asking this. I get a 1099 too.

Divvy is available in Cleveland/ Northeast Ohio and Cincinnati area.

Yes your husband would be just fine applying alone if he meets all the requirements alone. This will not cause any issues with you guys buying the home back either.

That is very helpful, thank you. I will be in touch.

Yes you are going to have to show 2 years of documented steady income. You can have a small break in current job if you changed jobs. But March 2022 all the way until November of 22 is way too long of a break.

@@DeztheRealtor Thank you so much :)

Yes. Just as long as the home is in a qualified area. If so they will attempt to buy it for you if your budget meets the asking price.

Great question bro. Buy there is no catch to Rent to Own programs if you understand that they are in to make money. When they purchase a property for you they are going to make money 3 ways. First way is they are going to get monthly rent on an asset they paid cash for. 2nd they set the buyback price anywhere from 6%-20% over what they originally paid so they make money on the sale. And then there is the property management side of the operation that is profitable. These companies all have fair terms if you can buy the home back within the first or 2nd year. Any longer than that then it’s hard to buyback at the higher price. That’s why I love programs like Home Partners of America because they don’t ask for a downpayment in order to make the purchase. It’s only a rental deposit that is returned if you decide not to buy the home back.

It’s ok if the income remained the same. Meaning if you switched a w-2 job for a w-2 job or 1099 for a 1099 job. If the income changed from w-2 to 1099 or vice versa then you have to wait. Also the 2nd source of income would need to equal 2 years of employment to use that. Consult with a lender to have them look at your file if you are not sure. It wouldn’t be a waste of time to attend one of the NACA workshops to get the information. I’d say sign up for next workshop and attend. They will have all the personal on hand for answer these questions.