If you are looking to get into property preservation in Cape Coral you will have some stiff competition from established and experienced vendors. Numerous property preservation vendors were established over the past several years when foreclosures were so high. Fortunately our foreclosure filings have dropped drastically so the demand for property preservation vendors has also greatly declined.... more
There are many different channels you will need to send your info to, I would begin with a Google search on who are the main REO banks listing properties in the area and signing up with the proper companies. Many banks/asset managers issue work through service portals which vendors are vetted through a approval process.
I agree with below post: contact foreclosure realtors, field services companies, asset managers at banks and mortgage companies, and other companies offering similar services. You will need to register as a vendor with the larger property preservation companies, too. And don't discount networking with your "competition" for their overflow. Good article below on the subject at foreclosure cleanup blog.
Many wishes of success!
Cassandra, Foreclosure Cleanup, LLC, Atlanta, GA... more
A rent to own, or lease to own home works like this. Once we identify a property we negotiate the terms and conditions of the sale as follows.
Sales price at the end of the option period.
Money down on the option - sometimes between 3% and 10%.
Portion of monthly rent applied toward principal balance at time of sale.
Length of the lease option - 12 month, 24 month, etc...
At the end of the lease period you have the option to purchase the home at the agreed to price, your option money becomes the down payment, and a portion of your monthly rent is also applied toward your principal or other costs.
I do stress extreme caution and research on such properties in our present market place. I was recently researching such properties for a buyer and found over 50% of these properties were in foreclosure. Keep in mind all the money you have put down, and the portion of your rent money is all given away if you don't purchase the home at the end of the lease option period also. Now imagine the owner isn't paying his mortgage and collecting your money every month and the bank shows up and says - Hi we own this home now !!!
This is a worst case scenario - but it has happened so use caution.
Licensed Real Estate Broker Associate
Florida Future Realty Inc.
2816 Del Prado Blvd South Unit 2
Cape Coral FL 33904
Direct 239-340-1384... more
If you qualify for section 8, the potential to buy are slim to none. Banks have tightened the reigns. Why not just rent? Rents are very cheap here in cape coral right now. 3 bedroom homes can be had for $700. I have quite a few rentals available, none of the owners want to sell in this market.