Newbie looking for help w/ rent/lease to own option - Washington

Newbie looking for help w/ rent/lease to own option - Washington

Washington State · Member since 2020 · 133 posts · 36 votes

Aloha! My family and I are looking to relocate to JBLM Washington from Hawaii in the next few weeks. Our initial goal was to purchase a home immediately. I was pre-approved initially, but then inquired about my homes in Forbearance due to CoVID. I was then informed I could not purchase until I was current. I expect to be current in January as per the current stipulations. Credit is not a problem.

As per Army orders, my family and I are relocating to Washington next month. Because of the timeline, we are now forced into a position to rent initially. Rather than rent for 6 months to relocate again, I am curious about the lease to own option and looking for a knowledgeable realtor that can help.

Through my scouring of the internet for homes, I looked at apartments initially and applied with “Home Partners” as well. I’m looking for properties with house hacking potential in Gig Harbor, University Place, Steilacoom, Lacey and Olympia but being told there’s not a lot of homes available with this criteria.

Can anyone help? I’m about 3 weeks into Bigger Pockets and it’s completely changed my mindset. Still gathering knowledge and not completely comfortable yet but what better time to jump in and learn then now?!

Without a forcing mechanism like this, I know me - I’ll continue to sit on the side scared to do anything. Paralysis by Analysis. I’ve already learned a ton in a short amount of time and connected with great people who are teaching me! (Cough...cough... @Lisa Kennedy)


Mahalo for your kokua!

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Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
6y

@Marc Estepa

Welcome to BP community! We're glad you joined us.

Check out BP Podcasts: https://www.biggerpockets.com/podcast

Wishing you the best!

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  • Ian BroadieBusiness Member
    Real Estate Broker · Gig Harbor, WA · Member since 2015 · 41 posts · 22 votes
    6y

    @Marc Estepa Hi Marc! Welcome to BP and WA!

    I’m glad to hear you’ve already found Home Partners, I’ve helped a few clients use their service and it can be a great option but it’s not for everyone and it comes with some restrictions. If you have time to chat today, I’d love to see if there’s anything I can do to help you and your family figure out the next steps.

  • Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    6y

    @Marc Estepa

    Welcome to BP community! We're glad you joined us.

    Check out BP Podcasts: https://www.biggerpockets.com/podcast

    Wishing you the best!

  • Washington State · Member since 2020 · 133 posts · 36 votes
    6y

    Ian, Dmitriy - thanks for the warm welcomes!  Ian, I’ll give you a ring tomorrow, my movers are here and I’m pretty swamped.  I do have quite a few questions on how this works.  Like I said, I’m pretty new to it all and recently read about lease options.  I came across home partners in various home searches and figured it wouldn’t hurt to inquire since it seems to fit my current situation.  Bottom line is, I want to buy.  Had it not been for the forbearance, that’s the route I was going to take.  But if I can rent with the option to lock in that price and buy after I clear this forbearance, this might be what I need.  I just need a real estate agent to help me figure this all out and understand what I am trying to do.  I’m hearing about all the bidding wars over there right now, so I’m curious if I’m even able to find some deals!  From what I’m hearing, some real estate investors are paying 30k over the asking price just to secure it!  Anyway, DM me on the side and I’ll hit you up!  Hope all is well!

  • Investor · Gig Harbor, WA · Member since 2018 · 46 posts · 19 votes
    6y

    @Marc Estepa I am a real estate agent in Gig Harbor, right down the road from JBLM about 15 -20 minutes. I would be glad to help you out. Also a real estate investor, so we could definitely chat about the area and it’s opportunities. Feel free to direct message when you get a chance.

    Best,

    Char

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