Want to be a "Rent to Own" investor?
But to succeed, you'll need to understand the following key components to a "Rent to Own" contract first, before you can help buyers and sellers.
While there are more areas that you will want to consider when buying a "Rent to Own" home, or acting as a Principal to sell or assign contracts, the following is meant to be a "birds eye" view of some of the key components that go into the purchase and sale for both buyers and sellers alike.
Key Components to Note:
Seeking competent advice is always advised by the real estate investing teachers when reviewing the terms of a "Rent to Own" contract, but I've found that most investors either don't know how to find a real estate attorney, or simply cannot afford one.
When I first started in real estate investing as a Beginner investor, I couldn't afford a real estate attorney either.
Not at $250-$500 per hour.
A great way for a Beginner/ Intermediate real estate investor "on a budget" to get legal advice in all states, is to use a company called, "LegalShield.com."
I do not sell their product, though I did in the past, but I still highly recommend them to Beginner and Intermediate real estate investors who want access to legal advice nationwide on all of their deals.
P.s. Here's an example of a purchase agreement that you can review to start becoming familiar with purchase agreements. This is not a one-size-fits-all purchase agreement, but it will definitely get you familiar with what they look like, and how they work.
Contracts source: REITips.com
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