Would you give an Immigrrant Tenant a 30 year lease on a house? And a Deed?

[Brian Gibbons]

If you live in an area that has non-English-speaking tenants

If you live in an area that has non-English-speaking tenants, especially Hispanics like where I live in California, and I can only imagine Arizona or New Mexico or Texas or New Orleans (I know Cajuns) in many parts of New York City,

People that have English as 2nd language are very careful about their housing, they're more motivated than the average tenant to pay you on time. They don't like legal problems and they usually keep up the property better.

They can deal with business (rent payment) matters better, because they are cash basis are cautious about bank loans because they are on cash basis so much.

How can you be creative and help an immigrant be a homeowner?

And you make money as a landlord?

A long-term lease option might be the trick. Give someone a lease for 12 months with extensions, and keep extending the lease. You can give them a 12 month option and keep renewing the option. You can say to them:

I know you love the house and you want to own it.

If you make payments on this property for long period time I will help you get the deed.

There will be slight rent increases over time, but this way you can be a homeowner and get the deed.

Now if you are a honest person and want to help people, this might be a good idea to get long-term rentals and even be a long-distance landlord.

The tenants can pay you cash deposits into a bank every month, you give them bank deposit slips.

Every 6 months to 12 months combined look at the property if you're out of the area, and on the anniversary date let them know how many more years they got to go to the deed.

I know everybody wants to get a free and clear property and buy-and-hold, but you get a good cash flow out of the property, after expenses, you might want to consider this is a way to help immigrants. And not have any turnover.