How to get the most out of this site. Realtyrto is founded by real estate investors who (not to sound cliché
but what the heck) have 'been there, done that.' What that means is a career of 25 years in real estate --everything
from new home construction to rehab, flipping, assignment of contracts, short sales (we were doing this before it
had a name), loan modifications, self-directed tax-free IRA investing, non-performing notes, foreclosures, loan
modifications, bad credit repair, commercial property, self storage, and much more. Most recently we were in the
'WE BUY UGLY HOUSES' industry, buying houses sight unseen, selling them to investors whom we never met,
using no money of our own (honest). But, like many things in life it was time to move on.
but what the heck) have 'been there, done that.' What that means is a career of 25 years in real estate --everything
from new home construction to rehab, flipping, assignment of contracts, short sales (we were doing this before it
had a name), loan modifications, self-directed tax-free IRA investing, non-performing notes, foreclosures, loan
modifications, bad credit repair, commercial property, self storage, and much more. Most recently we were in the
'WE BUY UGLY HOUSES' industry, buying houses sight unseen, selling them to investors whom we never met,
using no money of our own (honest). But, like many things in life it was time to move on.
Last updated
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There is little doubt the U.S. economy is faltering and taking residential real estate with it. Almost daily news
headlines announce more doom and gloom for the nations housing woes. And it is not just troubles in housing but
mortgage lenders are taking a hit. Homebuilders such as Centex Corp., Pulte Homes Inc. and Hovnanian
Enterprises Inc. are walking on eggshells with acres of unsold properties, mainly due to lack of financing opt5ions
for home buyers.
The real estate liquidity problem is further exacerbated by the bank failures in the mortgage sector. In 2008 alone
there were 25 F.D.I.C-insured banks in receivership, including mortgage giant Washington Mutual. The number of
bank failures is 8x greater than in 2007 (3) and 25x greater than 2006 and 2005 (zero). Fewer banks mean fewer
sources of mortgage capital, less supply. Mortgage lending is by no means dead in the water, but the loan approval
process has tightened considerably as banks are very cautious in this economy.
For home sellers and home buyers it is quite clear the traditional sources of mortgage loans are limited and cannot
be relied upon. Despite these challenges the demand for home ownership is strong. One of the answers in today's
economy is seller financing - the lender of last resort is the homeowner himself. The home owner has the
opportunity to sell his real estate with seller financing, also known as rent to own home ownership.
When it comes to seller financing the terms used in the industry are rent-to-own, lease-to-buy, rent with option,
lease with option, seller carry back, wrap around mortgage, land contract, and a basic rent credit used towards a
down payment.
headlines announce more doom and gloom for the nations housing woes. And it is not just troubles in housing but
mortgage lenders are taking a hit. Homebuilders such as Centex Corp., Pulte Homes Inc. and Hovnanian
Enterprises Inc. are walking on eggshells with acres of unsold properties, mainly due to lack of financing opt5ions
for home buyers.
The real estate liquidity problem is further exacerbated by the bank failures in the mortgage sector. In 2008 alone
there were 25 F.D.I.C-insured banks in receivership, including mortgage giant Washington Mutual. The number of
bank failures is 8x greater than in 2007 (3) and 25x greater than 2006 and 2005 (zero). Fewer banks mean fewer
sources of mortgage capital, less supply. Mortgage lending is by no means dead in the water, but the loan approval
process has tightened considerably as banks are very cautious in this economy.
For home sellers and home buyers it is quite clear the traditional sources of mortgage loans are limited and cannot
be relied upon. Despite these challenges the demand for home ownership is strong. One of the answers in today's
economy is seller financing - the lender of last resort is the homeowner himself. The home owner has the
opportunity to sell his real estate with seller financing, also known as rent to own home ownership.
When it comes to seller financing the terms used in the industry are rent-to-own, lease-to-buy, rent with option,
lease with option, seller carry back, wrap around mortgage, land contract, and a basic rent credit used towards a
down payment.
Bankers may not be Lending but with Seller Financing Home Sales are Brisk
One of the missions of this site is to equip the buyer with the tools for credit repair, foreclosure assistance and
down payment strategies to hopefully realize home ownership. We are big on families and homes. A family needs
an opportunity to say "this is our home." Home ownership is our nations strength and hard-working families make
this country great. So come inside, look around and by all means let us know how to improve this site for you. And no
matter if you are a buyer or a seller please do not forget the rent-to-own Realtors, for they work very hard on both
sides of the deal.
down payment strategies to hopefully realize home ownership. We are big on families and homes. A family needs
an opportunity to say "this is our home." Home ownership is our nations strength and hard-working families make
this country great. So come inside, look around and by all means let us know how to improve this site for you. And no
matter if you are a buyer or a seller please do not forget the rent-to-own Realtors, for they work very hard on both
sides of the deal.
Though these home-ownership concepts have
been around for ages, in today's economy they
are rapidly becoming very common. Home
owners are not the only ones employing this
strategy, it is also popular with homebuilders,
real estate agents, real estate investors and just
about any seller of real estate can sell on owner
terms. And the seller finance idea is not limited
to just houses; it includes land, condos, vacation
homes, penthouse, town homes, time-share,
storage units, boat docks, RV's, and garages.
A new real estate listing site has opened and if it
holds up to its mission statement it may be a
very promising concept. The site is
www.realtyrto.com (realty rent-to-own). Their
'mission' is really quite simple -to facilitate
been around for ages, in today's economy they
are rapidly becoming very common. Home
owners are not the only ones employing this
strategy, it is also popular with homebuilders,
real estate agents, real estate investors and just
about any seller of real estate can sell on owner
terms. And the seller finance idea is not limited
to just houses; it includes land, condos, vacation
homes, penthouse, town homes, time-share,
storage units, boat docks, RV's, and garages.
A new real estate listing site has opened and if it
holds up to its mission statement it may be a
very promising concept. The site is
www.realtyrto.com (realty rent-to-own). Their
'mission' is really quite simple -to facilitate
home (real estate) ownership for anyone, generally tenants, who have a dream to one day own a home of their own.
Yes, it does sound like the old adage of American dream of home ownership' but it sounds like they are on to
something.
As stated above the challenge for home buyers and sellers is not one of "should I buy or should I sell?" but rather
"in the present malaise of the economy how do I go about it?" When lenders place restrictions on loan approvals it
places an undue hardship 'gap' on home buyers and sellers. Rent-to-own home ownership programs fill the gap.
When the banks are not lending the homeowner can step up to the table and act as the bank. It makes sense.
The site promotes itself as 'the peoples bank' for home ownership. For the anxious home seller perhaps stressed
by dual house payments and the disillusioned home buyer who may have been turned down form a traditional
lender why shouldn't the two parties come together and bypass the bank altogether? The seller has the option to act
as the bank. After all, the seller can sell his property in any legal manner available. So why not act as the bank? A
seller can act as the bank and create a note (a promise to repay), with a term (a typical bank loan is 15-30 years
though an rto generally balloons in less than 5) and a competitive interest rate (today 7-10% apr is a common rto
buyer rate).
The benefit to the seller is additional interest income by acting as the bank; for the buyer it is the opportunity to get
out of the rent trap and to convert those rent dollars to equity dollars. It is a win-win for both parties. Seller makes a
sale and the tenant becomes a homeowner.
Nothing in life comes without a hitch and in rto ownership there are challenges for the buyer and for the seller. For
the buyer the challenges to overcome are bad or bruised credit, perhaps a foreclosure or bankruptcy, and coming up
with the cash for a down payment. Odd as it may seem these are exactly the same challenges to overcome by the
seller. A seller wants to keep its risk to a minimum and rightfully so. As the site mentions the path to rto home
ownership is not a simple ‘drive-thru value meal,’ but more of a Bobby Flay or Rachel Ray meal preparation. An ill-
conceived menu and lack of a plan can lead to indigestion. It’s all about the plan.
These aforementioned obstacles become opportunities when the buyer explores the remedies for credit repair,
foreclosure consultancy, and down payment preparation programs. While the buyer is 'getting fixed' so to speak, the
seller is a co-beneficiary. The seller will have the benefit of a buyer who is a serious contender for home ownership
and not just a wannabe. The success is in the preparation.
The idea of rent-to-own home ownership is making headway. A recent article in the Post and Courier, a Charleston
South Carolina publication talks about Rent to Own Home Deals Surge in Popularity. For South Carolina to take
notice of the rto concept is noteworthy if only for the fact that the State of South Carolina has but a fraction of the
foreclosure woes that overwhelm California, Nevada, Florida, Arizona, Ohio and Michigan -states that have am
upsurge in loan defaults and sheriff sale redemptions.
When the homebuilders feel the crunch and the economy is faltering the concept of rent-to-own home ownership
may be as American as apple pie and baseball. The concept itself is typical ‘American ingenuity’ at its best.
“Problem selling your home?” Problem solved, rent-to-own homes gets the job done.
Sources:
http://news.yahoo.com/s/nm/20090106/bs_nm/us_usa_economy_housing
http://www.fdic.gov/bank/individual/failed/banklist.html
http://www.charleston.net/news/2007/nov/12/contracts21769/
http://www.realtyrto.com
Yes, it does sound like the old adage of American dream of home ownership' but it sounds like they are on to
something.
As stated above the challenge for home buyers and sellers is not one of "should I buy or should I sell?" but rather
"in the present malaise of the economy how do I go about it?" When lenders place restrictions on loan approvals it
places an undue hardship 'gap' on home buyers and sellers. Rent-to-own home ownership programs fill the gap.
When the banks are not lending the homeowner can step up to the table and act as the bank. It makes sense.
The site promotes itself as 'the peoples bank' for home ownership. For the anxious home seller perhaps stressed
by dual house payments and the disillusioned home buyer who may have been turned down form a traditional
lender why shouldn't the two parties come together and bypass the bank altogether? The seller has the option to act
as the bank. After all, the seller can sell his property in any legal manner available. So why not act as the bank? A
seller can act as the bank and create a note (a promise to repay), with a term (a typical bank loan is 15-30 years
though an rto generally balloons in less than 5) and a competitive interest rate (today 7-10% apr is a common rto
buyer rate).
The benefit to the seller is additional interest income by acting as the bank; for the buyer it is the opportunity to get
out of the rent trap and to convert those rent dollars to equity dollars. It is a win-win for both parties. Seller makes a
sale and the tenant becomes a homeowner.
Nothing in life comes without a hitch and in rto ownership there are challenges for the buyer and for the seller. For
the buyer the challenges to overcome are bad or bruised credit, perhaps a foreclosure or bankruptcy, and coming up
with the cash for a down payment. Odd as it may seem these are exactly the same challenges to overcome by the
seller. A seller wants to keep its risk to a minimum and rightfully so. As the site mentions the path to rto home
ownership is not a simple ‘drive-thru value meal,’ but more of a Bobby Flay or Rachel Ray meal preparation. An ill-
conceived menu and lack of a plan can lead to indigestion. It’s all about the plan.
These aforementioned obstacles become opportunities when the buyer explores the remedies for credit repair,
foreclosure consultancy, and down payment preparation programs. While the buyer is 'getting fixed' so to speak, the
seller is a co-beneficiary. The seller will have the benefit of a buyer who is a serious contender for home ownership
and not just a wannabe. The success is in the preparation.
The idea of rent-to-own home ownership is making headway. A recent article in the Post and Courier, a Charleston
South Carolina publication talks about Rent to Own Home Deals Surge in Popularity. For South Carolina to take
notice of the rto concept is noteworthy if only for the fact that the State of South Carolina has but a fraction of the
foreclosure woes that overwhelm California, Nevada, Florida, Arizona, Ohio and Michigan -states that have am
upsurge in loan defaults and sheriff sale redemptions.
When the homebuilders feel the crunch and the economy is faltering the concept of rent-to-own home ownership
may be as American as apple pie and baseball. The concept itself is typical ‘American ingenuity’ at its best.
“Problem selling your home?” Problem solved, rent-to-own homes gets the job done.
Sources:
http://news.yahoo.com/s/nm/20090106/bs_nm/us_usa_economy_housing
http://www.fdic.gov/bank/individual/failed/banklist.html
http://www.charleston.net/news/2007/nov/12/contracts21769/
http://www.realtyrto.com
It is often said home ownership in America is a tradition. If so, then rent to own home ownership must be an
institution. In the old days banks didn't loan money for home ownership. It was done the old-fashioned way - with
seller financing. Rent to own home ownership has been around since the Roman Empire. What's old is new again!
Everyday from coast to coast homes and land are bought and sold with the simplicity and convenience of the home
owner acting as the bank. Today, with home prices at levels not seen in years rent to own home buyers are doing
whatever it takes to get a bargain! Don't miss out on the greatest rent to own home bargains in history!
institution. In the old days banks didn't loan money for home ownership. It was done the old-fashioned way - with
seller financing. Rent to own home ownership has been around since the Roman Empire. What's old is new again!
Everyday from coast to coast homes and land are bought and sold with the simplicity and convenience of the home
owner acting as the bank. Today, with home prices at levels not seen in years rent to own home buyers are doing
whatever it takes to get a bargain! Don't miss out on the greatest rent to own home bargains in history!
In any economy there are buyers of real estate and today is no exception. We are often asked, "where are buyers?"
A very good question. We created this site with the rent-to-own buyer in mind-a site dedicated to buyers -for rent to
own sellers (Realtors included). Some of our buyers qualify for conventional FHA loans, other buyers need a year or
two to work out credit issues or to obtain a down payment. In other cases we have preliminary steps for buyers
who may need down payment assistance, debt settlement, credit improvement, and income enhancement
programs.
A very good question. We created this site with the rent-to-own buyer in mind-a site dedicated to buyers -for rent to
own sellers (Realtors included). Some of our buyers qualify for conventional FHA loans, other buyers need a year or
two to work out credit issues or to obtain a down payment. In other cases we have preliminary steps for buyers
who may need down payment assistance, debt settlement, credit improvement, and income enhancement
programs.
In a slow economy a home seller needs all the help he can get. It's not enough to list a home on the MLS or on
craigslist and sit back and wait. It takes a creative and serious approach to get home sold today.. Rent to Own
Homes is one realistic solution.
craigslist and sit back and wait. It takes a creative and serious approach to get home sold today.. Rent to Own
Homes is one realistic solution.
Forget the Old Bank! Welcome to the New Bank of Seller Financing!
World Headquarters
"The only way to buy a house is with seller financing."
Donald Trump on Larry King, May 2009
Donald Trump on Larry King, May 2009