As FRED suggested, rent to buy is a solution for home owners who find themselves in a situation.
What ever caused the situation is in search of a solution, and that solution COULD prove costly to the renter if they stumble into #1 or #2.
There are several categories of rent to own opportunities.
1. Investor owned. One investor in our area owns 13 houses that are always advertises as rent to own. in the past 15 years NONE of theses houses changed ownership. The secret to making big money for this investor is the $20,000 non-refundable deposit receive for each contract. Plus the renter pay ALL home maintenance costs. That a great deal for the investor...the renter got poorer.
2. Flipper - using exit strategy three and is desperate to get to next project....with your non-refindable deposit
3. Home owner. This home owner will be working with a real estate professional. What you really want is to be a solution to a home owners problem, not in the food chain of an investor. Contact your REALTOR and discuss your situation. Have patience.
If you have demonstrated your loyalty to your REALTOR, they will CREATE the situation tha you and the homeowner can benefit. The resources and time required can only be invested in those who have proven themselves to be loyal. Give your REALTOR a reason to invest in you.
Or you can do as Badge did, and beat the pavement until you find one.
Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL