Rentals in Las Vegas>Question Details

Martha Taraz…, Real Estate Pro in North Las Vegas, NV

How can I turn tenants into buyers?

Asked by Martha Tarazona, North Las Vegas, NV Mon Apr 15, 2013

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When you meet with thtem to show them rental ask them if they have considered buying as they will save money each month for the same unit as well as gain appreciation, as well as gain the tax write off benefits. If they are currently unable to buy then advise them to get a plan to gether with a lender that you can refer them to that way when their lease is up hopefully they will be able to buy. Then stay in contact with them.

Best Regards,
Robert Adams
The Adams Team at
Rothwell Gornt Companies
1 vote Thank Flag Link Thu Apr 18, 2013
Thank you :)
Flag Thu Apr 18, 2013
I found one of the best ways is to use a report showing what they are paying in rent over 1,2,3,4,5 years. Ask what they are paying and calculate the amounts or you can find one already done for you with rent average amount breakdowns. Google it. Show them how they are helping the owner of their rental property purchase that property for his benefit. Rent is $1000.00 a month they have paid their landlord $36,000 over 3 years. This is a perfect time of the year to have potential buyers talk to their accountant and if they are able to itemize deductions the benefit they will receive through purchasing a home and getting the deductions associated with homeownership.
1 vote Thank Flag Link Mon Apr 15, 2013
Thank you ! very helpful !
Flag Mon Apr 15, 2013
If you own it free and clear you could do an owner carry but I like Steve's answer better.
1 vote Thank Flag Link Mon Apr 15, 2013
owener carry ..hmmm, I have no idea how to do that
Flag Mon Apr 15, 2013
Put them on a savings plan and help them get their credit in order...or call Criss Angel..J/K :)
1 vote Thank Flag Link Mon Apr 15, 2013
Criss Angel is good for everything :) .. Thank you for your great answer
Flag Mon Apr 15, 2013
By showing the tenants the benefit of owing versus renting. Owning is even more affordable now with interest rate so low. A visual presentation of rent versus buying would be convincing.
0 votes Thank Flag Link Thu Jan 15, 2015
You can show them what they would ultimately save by buying, then encourage them to work on their credit and savings as well as start having conversations with Lenders in order to get them prepared.
0 votes Thank Flag Link Thu Jan 15, 2015
I can typically pre-approve a person within 60-90minutes. You can have any renter you are interested in converting to a home owner apply on website: I am a Mortgage Banker, licensed in NV. From the application to the funding, it is all done under one roof.
0 votes Thank Flag Link Mon Jun 24, 2013
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