Or are you looking for a rent-to-own opportunity for yourself to lease a house with an option to purchase, or a lease/purchase agreement?
Either way, I can help you achieve your goal. Please feel free to call me to discuss how I can assist you.
Have a great weekend!
All the best,
REALTOR, Property Manager
Your Real Estate Resource For Life
Cell (267) 254-7994
William Festa Realty
3001 S. Sydenham St.
Philadelphia PA 19145
Don provided a very good answer to your question. There's not much left to educate you on except for the fact that you need to find a seller/investor who would entertain this option. How can you do that? Make sure you have a trusted real estate agent that understands all of your needs and will do some extra leg work. Since finding this particular situation is not as easy as just renting or buying on their own, you will need to search more for the right opportunity.
Please let me know if you have any more questions that I can help with (email@example.com).
Since you describe yourself as a "Home Buyer," I assume you're looking for an investor to put together a rent-to-own deal, or to sell you a rent-to-own home.
As Temi says, if you're interested in a rent-to-own home, you can search one out yourself. Here's a blog I wrote on how to find lease-option and rent-to-own homes: http://www.trulia.com/blog/don_tepper/2010/03/how_you_can_fi
If you're interested in finding a deal already put together, you can find investors who do that at local real estate investment clubs. Here's a link to the clubs in Pennsylvania: http://www.creonline.com/real-estate-clubs/pa.html
If you were interested in having an investor take your current home (as Hannah thought you were asking), the investment clubs are a great place for that, too. To answer Hannah's question: Many investors LOVE lease-options. It's called a sandwich lease-option.
Just a quick scenario: Suppose someone wants to rent their home for $1,000 a month or sell it for $300,000. I negotiate a 4-year lease-option with them. Just making these numbers up, but let's say I agree to rent it for $950 a month with an option to purchase for $295,000. I don't pay an option fee. (Yes, it's possible to do that.)
I turn around and advertise the home: "No bank qualifying! Nice 3 bed/2 bath in Chantilly available now. Payments as low as $1,250 a month. Just 3 payments moves you in! Poor credit OK." So, what am I doing here? I'm getting an up-front option fee of $4,200 (the "3 payments moves you in!") I'm getting $300 a month positive cash flow. Oh, and I've priced the house as $315,000. So if the tenant-buyer exercises the option, I make an additional $20,000 (the spread between $295,000 and $315,000). Will its value rise from $300,000 to $315,000 (for it to appraise) in 4 years? Probably. If not, we can extend the option. Or the tenant-buyer has the option of simply walking away. What if property values climb and it's worth more than $315,000--say $330,000. Well, I've still made $300 a month and $20,000. And the tenant-buyer can buy a property worth $330,000 for only $315,000. Not a bad deal for the tenant-buyer.
What's my rate of return? Impossible to calculate since I didn't put any money into the deal. But, as some would say, "It's good enough."
Yes, investors love rent-to-own situations.
Anyhow, Shamrock, that's how you find rent-to-own houses. Whether you do it on your own or use an investor.
Hope that helps.
I'm trying to understand your question. Are you looking to rent to own a home and think only an investor can offer that or are you looking to rent your own home and think only an investor can do a rent to own? I see you're in Philly I actually have a rental in Philly that the tenant just moved out of so if you want to rent to own that you could. But clarify your question a bit and I can see what I can do to help.