Lease to own Charlotte, NC. A major hole in lease option

Lease to own Charlotte, NC.
A major hole in the lease option business:
Do you know why most individuals never hear of lease with option “lease option”? Most owners who are interested in leasing with option are often not given the proper advice about this technique to sell your home. They are unaware of the fact that this selling option almost guarantees getting the price they’re asking. With lease option there is very little haggling over the price. Buyers are usually willing to pay full asking price due to not having to qualify. And they can almost immediately move in.
Real estate agents have zero motivation to present this option to a seller to fill vacant properties. Agents do not get paid until a property sells, and with a lease option it could be months or years until the property actually closes. The MLS is what 85% of people rely on when selling/renting a home. When you lease option a home, it is up to you to advertise your available property. How can you increase the exposure of your lease option property by 80%? Use the net. You MUST have your own strong advertising campaign and that is what we’re building at Wilson Real Estate Investment, LLC. If you have any experience in lease optioning properties, I’m sure you understand the many annoying phone calls you receive. Why are the calls annoying? The people calling you are mostly unqualified. Over 98% of individuals interested in your lease option home will just not be able to afford it. A tip: Don’t use your phone number as a contact. Instead use an email address, not your personal email but set up an email with an autoresponder that will give further details. Using the no phone number technique will screen out most of the individuals who just cannot afford your home. In real estate, there is a common misconception on how to become successful. Location, Location, Location. The real secret for success is Motivation, Motivation, and Motivation. Only deal with motivated individuals. How do you know if a potential lease option client is motivated? Do not include your phone number on any advertising. Rather, include your email address. If a potential tenant buyer/renter likes what they see, they will respond by email. What if the potential lease option tenant does not have access to the net? If they don’t have the net, they probably do not have enough money to qualify. However, if you are in a very rural area, you might want to consider using your phone number. Once interested tenants email you. You now have their address and can respond accordingly. I strongly advocate having a predetermined price, terms of the option and necessary documents beforehand. You should know enough to be able to answer questions about how lease/lease option program works. This will save you HOURS on the phone. You will save yourself hours of time by giving lease option clients the ability to
understand:
1. How much the property will cost them
2. How the lease option program works
3. What the property looks like
You can post ads on free online classified sites once a week with titles such as:
a. Move in now, buy later
b. Rent-2-Own my home
c. Seller Financing available
In the ad, use your new email address. Give a brief description of property, include photos, videos etc.
As always I would encourage you to seek the advice of a real estate professional, or a attorney with a real estate background before entering into any contract.
We are here to assist anyone thinking of purchasing or selling using the lease to own option.
Wilson Real Estate Investment, LLC.
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Wells Fargo lowers FICO score requirements to 580

An estimated one third of Americans now have FICO scores below 620, according to one consumer group’s estimate.
Wells Fargo’s newly revised policy actually dips the FICO score cutoff line well below 580 — all the way down to deep subprime 500 — but also sets strict underwriting hoops and snares to weed out unqualified applicants. For example, borrowers with scores between 500-579 will need a 10 percent down payment from their personal resources. They will not be able to use gift money from relatives, friends or a charitable down payment assistance program to meet the 10 percent upfront equity test.
Home buyers with scores of 580-599 will need 5 percent down payments, and will be prohibited from supplementing their own cash with gifts.
Borrowers with FICOs above 600 will qualify for 3.5 percent down payment FHA deals, but will be allowed to use gift money. Contributions from home sellers to defray buyers’ closing or loan origination costs will be limited to 3 percent.
Debt-to-income ratios will be tight: 31 percent for monthly housing-related expenses, and 43 percent for total household debt service.
The expanded program will only be available through Wells’ retail lending channel, not through third-party brokers or correspondent lenders. To read more on this topic visit Inman News at Share http://www.inman.com/
Ken Harney who writes an award-winning, nationally syndicated column, “The Nation’s Housing,” and is the author of two books on real estate and mortgage finance.

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Charlotte, NC. What is a lease/rent to own homeowners agreement.

Wilson Real Estate Investment, LLC.
What is a Lease to own purchase?
A lease to own allows you to rent and occupy the property while having a contract to purchase at a future date. The two documents involved in this type transaction is…
1. A lease or rental agreement
2. A purchase contact to buy the property at a future date.
Lease purchase agreements vary so there is not a standard contract used by all. A lease purchase often refers to a contract for a certain purchase price of the property. With a lease purchase, you are intending to buy the property.
What is a Lease Option to purchase?“Lease-options,” are similar in that they often lock in the price of the home at the onset of the contract. However with many lease options, you have the right to purchase the property by a certain date, but are not obligated to do so. Most often options money is non refundable if you do not purchase the property.
Lease purchases and lease options are very popular today!These programs may help new home buyers with credit and savings problems, to purchase their first home.
You would be amazed at how many home sellers are willing to consider a lease purchase (rent to own).
Rent to own houses in Charlotte, NC are becoming more and more popular as sellers and buyers are becoming educated about the process.
As the buyer, there are many benefits to a lease purchase. Some of the benefits are
1.You will have minimum cash required, sometimes credit problems are okay the seller will finance you or if getting a mortgage loan you have time to repair your credit.
2. You have faster equity growth than just renting, some of your rent money is working for you towards the purchase, the option money usually is also credited towards your purchase. You will have lower or no down payment when purchasing since you have option money or rent credits to apply. If you lease option from a property manager, you may be able to use your security deposit for part of the required funds needed at closing.
3. Home prices may have appreciated beyond your locked in price (agreement price), and you have time to check out the property while you live in it.
As a seller, your benefits.
1. Of course would be to sell your home in a slower market.
2. Not worrying about the headache of making several mortgage payments.
3. No tenant headaches because tenant has more incentive to take care of their new home. As the property will be theirs in the future as homeowners. Rental payments are more likely to be made on time, because any non payment would most like cancel the option to purchase contract.
So in reality, this could definitely be a Win Win situation for both buyer and seller. Every lease purchase or option is different, so you need to carefully read your contracts, this is just a general description.

Search available lease to own homes in Charlotte NC.
If you would like more information about rent to own homes in Charlotte, NC. and surrounding areas, please visit our website and click contact us.
I would like to hear your comments please use comment section.
Frensceno Wilson
www.wilsoninvestmentproperties.com
www.theleasetoowncharlotte.com
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Rental vacancies in Charlotte, NC.

Wilson Real Estate Investment, LLC.If there is an upside to the housing crash, the apartment section is where you’ll find it. Vacancies are down and rents are rising, according to the latest data from Reis, Inc. It’s the strongest performance we’ve ever recorded in ten years, says Victor Canalog of Reis. Nation vacancies fell from 7.8% to 7.2% in the third quarter of last year. This trend will continue into 2011 should the financial markets remain tight. Asking and effective rents have increased from 0.5 to 0.6 respectively nationally. I have been pushing lease to own as great option to renting. Sellers are looking for creative ways of selling their home. Rather than let their homes sit on the market for 180 days or more in some markets. Many sellers are willing to sign option to purchase agreements with the buyer. This allows buyers time to get qualified for a home purchase loan. Buyers get the home at todays purchase price. So that later when the buyer is ready to purchase, they have the lower price as well have built a payment history. An additional benefit is rent credits being applied to down payment as well as the option money used to enter the purchase agreement. I would like to know your comments. Frensceno Wilson www.wilsoninvestmentproperties.com www.theleasetoowncharlotte.com Like my fan page on Facebook Follow Me on Twitter

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Metropolitan Statistical Area (MSA) level, Charlotte, North Carolina

On the metropolitan statistical area (MSA) level, Charlotte, North Carolina demonstrated more stability than the nation, much like the West. Prices there declined only 13% since its peak in the middle of 2007, while, national prices have dropped more than 30% since its height in the middle of 2006.
Wilson Real Estate investment, LLC.

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HUD Signs North Carolina Attorneys

HUD Signs North Carolina Attorneys.

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Am I my brother/sister keeper.

Wilson Real Estate Investment, LLC..
I have been having discussions on my blog “theleasetoowncharlotte.com”, concerning single mothers becoming homeowners. Many are eligible for assistance through city and county housing programs. Many times the mother will find a house within the same area she is now renting that will be eligible for these types of programs. And the house payment will be less than she is currently paying for rent. Also my company, Wilson Real Estate Investment, LLC, has a lease to own program that’s available to help those struggling to come up with down payments or need a little time to clear up credit issues.
Where does this my brother’s /sister’s keeper come in. You ask. Well the sad fact is many of the people who could benefit from these programs are the very ones who don’t find it interesting to search for these types of blogs. We have to help and lead these people to sites like mine for the information. Sometimes we even have to go as far as filling out the contact forms, so that I may get in touch with them. Most everyone has a facebook account so if you could give me that information on the person or a phone number we will be able to contact them. This is a form of being my brother’s/sister’s keeper. I believe everyone reading this blog know of at least one person who is a single mother and could benefit from this opportunity. So mother, father, sister, brother, aunt, uncle, friend. If you are reading this take the time to think of one person you can sign up, click any link highlighted in this text to do so. It will take less than 2 minutes. There are lives that could be changed by your doing so, which is immeasurable. I would like to hear your comments please use comment section.
Frensceno Wilson
www.wilsoninvestmentproperties.com
www.theleasetoowncharlotte.com
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