All Forum Posts by: Eric Hartmann

Someone suggested that I look into companies that do "rent to own" arrangements. Does anyone know how this works? Under a rent to own option, do I sell my home to a finance company that would rent it back to me? Does rent to own sound like a viable option in my situation? Thanks!

Thanks Jon and Jeff for your input. It really helps me to see how others value a rental to see if my idea is any good or not.

Montreal real estate prices are still hot for now. I bought my home in 2007 for $215,000. I completely renovated it and spent $50,000 plus a lot of my labour fixing it up. So in 5 years I stand to gain close to $100,000. Some areas in or around Montreal have done even better. Some think the housing market may cool down, but so far the economy hasn't been hard hit like in the U.S. and people still have a positive outlook in Montreal.

I feel that an investor would partially buy my house for the potential property appreciation and for a trouble free property. I say trouble free because it's fully renovated, I am handy, I do the outside maintenance and have credit with the bank. Also, the investor doesn't need to look for a tennant.

That said, I see how the rental income is low and can be bad for an investor. The other houses I've seen at low rents were probably bought around 1999. My house was worth only $110,000 back then. The Mortgages are probably almost payed off or verry low on those homes and the owner may not be ready to sell it yet.

I just thought it was silly for my to move if I can save the move. On the other hand, I don't want to limit my potential buyers by 99%. I guess to follow my dream I may have to sell and move after all.

If anyone has other ideas or input, it would be great! I like learning and to see how other people think and invest. This is a great forum!

Thanks!

Hi,

Im new to this forum and hope I'm posting in the right section.

My real estate agent listed my home on MLS in Montreal Canada for $378,000. I would like to sell the house to a property investor who will rent it back to me. My motives are to sell the home to fund a dream project of mine. My other option is to sell the house and move into a rental, but I would prefere to rent my house back, which will save me a move.

I saw comparable homes nearby renting for between $1600 and $1800 a month. Is this a reasonable rent price for me to ask for? I would sign a 1 or 2 year lease, cover utilities and grass & snow mainteneance.

My real estate agent never sold a house as a rental before. My house is listed in the MLS residential section. So far only couples and families have visited my home. I think listing it in the commercial section would attract real estate investors, but my agent thinks that since my home was never rented out, it cannot be listed as a revenue property in the commercial section. Does this make sense? Where should I market my home?

Any advice or comments are welcome here. Thanks!