Rent to Own House: How Does It Work? | FIRST TIME home buyer guide

In this video, we're going to discuss how rent to own homes work and help you decide if this is the right option for you as a first time home buyer. We'll answer all of your questions and help you get a better understanding of the process!

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-----Additional Resources-----
Rent to Own Services:

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We talk about the different types of rent to own homes:
Lease to purchase and land contract
Lease option
We talk about how to structure the rent to own. How much should you pay for a rent to own? How to determine monthly rent, Do you need a down payment?, and what happens at the end of the rent to own?
We answer the question How to find a rent to own home? through sites/services like zillow, real estate agents, Homefinder, Rent To Own Labs, Divvy, Home Partners of America and Dream America!
and finally we wrap with who a rent to own home is for! Oh and I give a couple of cool options that you may not have considered, that will Rent to Own an easier decision!

[EverydayZach]

it's crazy how people these days think houses are worth 500K to a million when our wages stay the same...

[TheDclarkson]

I’ve looked on some websites that do rent to own options and they make it seem like you basically just pay rent and purchase the house at full asking price at the end of the term. They don’t say anything about a portion of the payments going towards the cost of purchase or down payment.

[vkcsaltyboy]

THIS all of THIS! Awesome video. You definitely helped me out. I've been struggling to buy a home with a troubled credit score. However a friend offered to rent his home to us. I asked if he would do a "rent to own". He told me no. I then asked if I could do a Lease to own after 24 months. That made him like the idea more. He gets rental money for 24 months and the asking price of his home. Helps me because I get to fix my credit over 2 years and allows me to own a home after that without the down payment. That way I can purchase the house at his asking price and a little wiggle room for any repairs or updates I wish to do. I know this isn't always possible for everyone. But I'd highly suggest this option for anyone struggling with a credit score.

[Wyzdom]

Thanks for keeping it understandable and straightforward with Zero rambling 💯

[belindakereka]

I just literally learnt a great deal out of your video explanation of Rent to Own. Thank you so much. 🙏🏼

[ChristyMuze-lwtq]

Thanks Ben this is such an eye opener, in deed God has used to teach me what i needed to learn. God bless you with more wisdom & knowledge & multiply your business business portfolio.

[stampinturtles]

I’m the owner and my renter is asking if I’ll do rent to own. I’ve thought of selling. Plus I get calls every week if my house is for sell. So it’s high demand. Zillow says my house is worth 250k. Rent right now is 1600/m. I’m responsible for repairs, taxes, hoa, insurance. I’d love it if that became their responsibility. Willing to keep rent the same and transfer the other expenses. But rent to own sounds like a short term thing based on your videos. 2-3 years. Then renters get loan and buy the house. I guess the cost of home minus all monthly payments would be the amount I get. It’s just interesting that my renters have asked to do this. Not sure if there’s a down side. Or the risks involved.

[williamhughes]

Loved the part you threw in the “sell” for buying the course as a joke. 😂 You had me dying laughing. This was the perfect video for explaining ALL of the concept of rent to own home buying. Clear, concise, and perfect. Thank you!

[courtneysmith]

This is helpful, Ben. Thank you. I also admire how you have helped out with questions in the comments.

[nicoleeaton]

This was amazing video. I will be reaching back out to you soon with questions. I'm interested in learning more about rent to own.

[diegolazarte]

Helping a client do this, thanks for the info!

[tngal]

Just found you! Thank you for explaining this in plain English! I appreciate it. 😊

[taylorhowser]

My neighbor wants me to buy her house and the location is very important to me. So I am all for it. House is still being appraised and a lender I contacted is pretty sure I will get approved for the mortgage but I know that I can’t afford the estimated mortgage payment on my 58k salary plus car and student loan payments. However my fiancé starts law school in august and in 3 years can contribute to the household income. My credit is fine and by the time we talk details I feel like I will have a nice enough downpayment it’s just affording the mortgage that worries me, I figured a rent to own (especially given the circumstances with the neighbor) may be what’s best to buy me time till she is out of school.

[lucinda]

Thanks for the video. It’s super helpful. I’ve never heard about this option before, but after watching your video, and I believe it would be something I could consider.

[YassJuni]

Is $60k a year enough for a $200k home and I want to find a rent to own home that's not more than $1400 a month, can you please explain it a little more, also how do you find a rent to own home?

[AHumanEndeavor]

Thanks! This was a great intro/start for me to consider this option!!

[hetalkapadia]

Wow . U gave a lot of information. Thank you. Appreciate it

[diamondaleese]

Great information!!! Thank you so very much!!

[monicaharris-green]

This was really helpful! Well explained!

[hhbqbse]

Very informative and funny! Subscribed!