Rentals in Tampa>Question Details

Ebony Henry, Home Buyer in Tampa, FL

Any rent to own programs for first time home buyers?

Asked by Ebony Henry, Tampa, FL Thu Oct 17, 2013

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Since rent to own properties may not be listed as such, consider working with an agent of your own. Keep in mind that rent to own can be risky and one could stand to lose a bit of money, therefore do inform yourself well, and consider consulting with an attorney who specializes in real estate beforehand. If you haven't done so yet, visit with any licensed loan officer, see if you can buy outright...
2 votes Thank Flag Link Thu Oct 17, 2013
All the best tou you!
Flag Thu Oct 17, 2013
thank you
Flag Thu Oct 17, 2013
Ebony

I would be happy to talk with you about your home buying options. I work in the Greater Tampa area and have helped many first time buyers through the process. Please review my profile on Trulia and send me a message. You can also contact me at TracyHoyt Realtor@gmail.com or call me directly at 813-352-6219.
No pressure just help.

Respectfully,
Tracy Hoyt
Realtor
1 vote Thank Flag Link Thu Oct 17, 2013
Thank you so much and I will contact you!
Flag Thu Oct 17, 2013
Good answer from Anna: Most lease-option properties aren't listed that way. I'm certainly not aware of any such programs designed for first-time home buyers...but a lease-option is so customizable (length of lease, length of option, amount of lease credited toward the purchase price, amount of up-front option fee, etc.) that you really shouldn't need one designed for first-time buyers.

However, as Anna said: If you're able to buy, it's often better to buy. Lease-options can be the best choice for some folks--often people who have had something happen to their credit and aren't in a position to buy now, but expect to be within a year or two. In other cases, though, simply buying (or simply renting for a year or two) can be a better choice.

Here's a link to a blog I wrote on how to find lease-options: http://bit.ly/findaleaseoption

A couple of tips: You shouldn't have to pay anyone for "lists" of lease-option properties, or for access to a site that lists them. Inside secret: There's plenty of money for investors involved in lease-options--typically several thousand dollars up front, several hundred dollars a month, and maybe 5%-15% of the value of the property if you buy. There's no need for any investor to charge anything for lease-option listings.

Also, find a lawyer, but one who knows and understands lease-options, to review your paperwork.

Hope that helps.
1 vote Thank Flag Link Thu Oct 17, 2013
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
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Ebony~

we have always several houses in the Tampa Bay area that we can sell "rent to own". If you want to contact me (cowproperties@gmail.com), I can email you a list of currently available properties.

The downpayments range between $1,500 and $3K. Monthly mortgage will be around $600 to $900 (depending on size of house).
0 votes Thank Flag Link Sat Jan 18, 2014
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