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Updated over 4 years ago,
Best way to find Lease to Own properties?
Hello! Looking for some advice. I am in the market to buy, but my timeline won’t allow it for at least 6 months due to my current loans in forbearance. This will be cleared by January.
Anyway, my family is military and in the process of moving to Washington. Because we HAVE to suck it up and rent for a little bit, I am trying to minimize moving twice in one year and interested in rent to own properties.
In my search for rentals, I came across various companies that specialize in rent to own options. I also learned about it through BP so it grabbed my attention. On the surface, it looks like a good program, but after talking to other investors way smarter than me, I see the money I would be losing working with a company specializing in rent to own properties as it’s still a business for them.
On the other hand, I’ve read about awesome deals being made by home owners motivated to sell and open to a lease purchase agreement that were a win - win for both parties. The question is, how do I find those people?
My issue is this. I initially walked into the home search looking for purchases. After I learned that I would be unable to purchase at this time, I looked strictly at renting and closed the option to buy off. Now I see that with a little negotiation and asking around, there may be motivated sellers who would be open to this. But how do I find them and work with them one on one? Also, moving to Washington State - I don’t think homes are sitting on the market too long from what I’m seeing.
Looking at homes to purchase opens up my aperture and gives me more options than strictly rentals at this time. I’m just trying to streamline the turbulence of moving as much as I can while putting myself in a better position to invest!
Any thoughts, leads or advice are definitely appreciated!