You may be able to find investors who try to flip properties but unable to sell as expected.
They may be willing to rent to own with you. Look for an agent who work with many investors.
Craig's list is a good source too. You can find few rent-to-own and lease-option listings.
No matter wht you do. Get a VERY good attorney who can protect you.
I have a great rental program that is just rolling out now.
It's great if you are looking for a rent to own, or just to rent.
If you are looking for a rent to own it allows you to have ultimate flexibility in terms, while at the same time it opens you up to both sides of the market.
You can look for homes that are on the market to rent as well as homes that are up for sale If you are looking simply to just rent, it allows you to look at homes that are also for sale.
This opens you up to a whole new marketplace, where the standards may be a bit higher then looking at homes that are simply just for rent.
All the best to you
Edith YourRealtor4Life! and Chicago and Northern Illlinois Expert
Working always in the very BEST interest of her clients, buyers, sellers and investors alike
Edith goes the x-tra mile with a smile for her clients....
A longer answer: Be careful when getting into rent to own situations. The terms are often against the renter. How do you plan on paying for the condo after the "rental" period is over? CASH or a LOAN? If CASH, then you will have the freedom to purchase all homes in your budget. If you havethe mmoney, why not do it now? If LOAN, do you qualify now? If not, are you sure you will qualify in 1 -2 years? As with anything, be careful.
If you do choose to try it be sure you have your attorney review the contract BEFORE you sign it and have him/her tell you the good/bad and ugly of what it requires of you. If the seller or the agent tell you otherwise.........walk away!
At this point in time, it would be best to rent something you really like knowing that the owner would potentially sell in a few years rather than drawing up a rent to own option that might lock you into a less than favorable position in this still slightly downward market. I would be glad to help you in your rental search or to speak more about this with you on an individual basis. Feel free to contact me directly. Best wishes to you.
Prairie Path Realty - Schaumburg.