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Updated over 2 years ago,
Using Home Partners of America to get into the market
Hello,
I've been doing a lot of research on how to jump into this market and stumbled upon this "Home Partners Of America" Company that will buy homes for you and let you rent them for a year with a right to purchase the property after that. Being that I am an FHA buyer in a cash derived market, who's to say I can't use these guys to get a property, rent it for a year, and have that property under a right to purchase agreement down the road? Also, the plan is the house hack the property right away during the rental phase and try to live for free.
I may be totally in the dark on this but Is there anyone that can critique this strategy or has any experience working with a company like this? Any advice would be greatly appreciated!
Thanks in advance guys!