How to Find Good Tenants in Orlando- 5 Tips | Written by Eugene Hoffman

How to Find Good Tenants in Orlando- 5 Tips

In this article, we will discuss five of the most common mistakes new landlords make. If you find yourself in a position that you become a landlord by default you will more than likely make mistakes. This career choice does not come naturally in a world where bad things happen to good people( this happens on both sides of the landlord/tenant equation).

Mistake #1| Know the Florida Landlord/Tenant laws!

Our offers are nice and clean and pay you all cash. We can close as quickly as 2 weeks or on a date of your choice. Let’s make a deal. Give us a call to get started.

Knowing all the laws completely is impossible, so let me explain why. You may think an experienced lawyer can tell the know how a judge will Rule in court, just ask an experienced one(I have). A lawyer will explain to you that judges today do not rule by his or her understanding of the Florida Landlord law, but by case law in the previous ruling by Florida Judges. Earlier this year the Federal Government passed a law that Landlords may not deny a person because he or she has a criminal record. How can a new landlord know all the laws? There are laws each landlord must obey about credit scores, evictions(that is a major headache), discrimination and deposit refunds. A very good lawyer will tell you if you end up in court in front of a judge it often cost the Landlord. Repeatedly this happens because the three-day-notice was done improperly. Ask a lawyer to explain and he will talk for several minutes and I guarantee you will think twice about serving three-day notices without help.

Mistake #2 | Maintaining Expense Account for Repairs.

The day will come when your income property needs a roof and a new A/C system and it always happens at the worst time in your life. Often people call this “Murphy’s Law”. New investors often learn how to be a landlord from being in the school of hard knocks. A person who manages a property from out-of-state will sell the house sooner or later. Typically eighty percent of businesses will fail in five years and in the case with out-of-state landlords the statistics are higher. If your property needs paint, roof, and AC you will not get a good tenant.

Mistake #3| Buying an income property because the price was cheap.

Do you believe from the bottom of your heart the will still be a housing shortage three years from now causing  prices to keep going up? I can argue on either side. The median household income has declined slightly the last five years, plus many rentals have forced families to pay much more than they afford. As a “rule of thumb,maybe” a renter’s take-home pay should be three times their housing cost. As a landlord, if you have tenants considered low-income it is probably just a matter of time before they start telling you a thousand reasons why they cannot pay rent. Landlords who rent in high crime areas must fight in order to collect his rent. These landlords seldom reap the benefits of property appreciation and this is the sweet spot in investing.

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Curious to know more about rent to own houses in Orlando? | Written by Eugene Hoffman

Curious to know more about rent to own houses in Orlando?

These potential home buyers are forced to rent and unfortunately cannot purchase a home even at current depressed housing prices. Unlike other programs, the rent to own program that we can help you get into enables approved Floridians to find a home that they want to rent, but also would like to eventually buy through our partner’s Pathway to Home-ownership. “Lease with a Right to Purchase Program.

Keep reading to find out how they work and to know whether rent to own is right for you

Most people think of renting a house or owning a house… but few realize there is an amazing “middle ground” – rent to own houses in Orlando – that gives you the best of both worlds. In this blog post, you’ll read about what it means to rent-to-own and how it works.

Renting: When you rent, you pay the landlord for a place to live. As long as your rent is paid, you have a place to live.

Owning: When you own, you take out a mortgage from the bank and they give the money to the seller. You pay the bank back for their loan.

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How you can find free rent to own home listings in Orlando | Written by Eugene Hoffman

How you can find free rent to own home listings in Orlando

Looking for a house here in Orlando? Find resources on local rent to own homes in Orlando Florida below!

It’s not uncommon to see craigslist adverts that provide people with a chance to own a home with just a small payment upfront and then “earn your way” into a house over time.

There are a few names for that… but “rent to own”, “lease to own”, and “lease purchase” are a few.

If you’re looking for a quality rent to own house in Orlando… you may be wondering how you can find free rent to own home listings in Orlando to see if you can find a house that’s right for you.

First, if you’re not sure what a rent to own house is… or the process… keep reading this website and check out our FAQ section.

Renting to own a local Orlando house can be a great option for people who are struggling to qualify for a home mortgage because of their credit or not enough cash for a large down payment.

This option benefits both the buyer as well as the seller because the former gets to move into his or her dream home quickly while the latter gets a series of long-term payments and is able to sell their house to a broader pool of potential “tenant buyers”.

Finding the right rent to own home listings is Orlando can be tough sometimes.

What we’d suggest is that you do your research and get on a few lists that show you local rent to own houses in and around Orlando.

Places you can find these lists of available Orlando Florida rent to own houses…

1. On This Website:  Our company, Eugene Sells Houses(License #SL3302788), is a local real estate investment firm that buys and sells houses. One of the ways we sell our houses often is on a rent to own basis.So you can join our Local Rent To Own Property List over here >>You’ll get email alerts anytime a new property is available.  A huge benefit of being on our rent to own house list for Orlando FL houses is that you’ll be the first one to see the properties BEFORE we list them on this website. More than half of our rent to own houses never even make it to this website because they get snapped up by people on our Orlando Rent To Own Property List.

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Four Tips On Buying Real Estate At Auction In Orlando | Written by Eugene Hoffman

Tips On Buying Real Estate At Auction In Orlando – 4 Tips To Help You Do It Right

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Yes, the foreclosure rate has come down, but now in 2016 more people are late on their mortgage payment.

Looking to acquire a property at an auction? That can be a fun (and potentially profitable!) way to acquire properties but it can also be fraught with danger if you’re not a careful. Make sure you read these 4 tips to help you do it right…

The secret to most real estate investing is to buy at an attractive price and then either rent for cash flow or sell at a higher price. And one place to buy attractively-priced properties is at the auction… if you do it right. Unfortunately, many brand new investors swoop into the auctions and end up spending too much. If you want to avoid this “newbie” mistake, make sure you read these 4 tips to help you do it right.

Tips On Buying Real Estate At Auction In Orlando #1 — Research

If the auction posts information about each property before the auction, take the time to do your research and determine the value and potential return of the property. Can you rent it out? Can you flip it profitably? Can you improve the value? Will you earn a return on your investment? Spend the time to do your research and figure out how much you can make from the property, which will inform you about how much you can pay. Set a firm limit and don’t over that limit for each property.

Typically, auction houses fail to deliver a “warranty deed” after you pay cash for the house. Sometimes the property will have a lien against the title. If there is a lien still attached to the investment the buyer will be responsible for finding a way to remove it. It may cost you a large sum of money. There have been times a person bought a house from an HOA and the original first mortgage is still attached.

Tips On Buying Real Estate At Auction In Orlando #2 – Find Hidden Gems

An auction is an open, unfiltered market, which means that you’ll be up against other people who may have done their research and want the real estate for the same reasons you do. This can result in properties being bid up to a very high price. The way around this is to dig deep in your research to find the hidden gems… the ones that people might not bid on but that YOU know are really valuable.

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How To Buy Investment Property With Bad Credit For Savvy Orlando Investors – 4 Ways | Written by Eugene Hoffman

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Eugene Hoffman is the Orlando’s area’s most respected house buying service. Our professional, experienced home buying team has been built from the ground up with the goal of helping homeowners like you sell your house fast, with no hassle, no games, no fees, and with transparency and integrity from start to finish.

For most people, a house is the largest purchase they ever make. You might be wondering, like a lot of investors, how to buy an investment property with bad credit in Orlando. Fortunately, there are at least 4 simple ways to acquire investment properties even with bad credit.

These 4 Ways Describe How To Buy Investment Property With Bad Credit For Savvy Investors In Orlando

Strategy #1. Use the money you already have. Many investors have money they may not even realize. For example, you might have equity in your home or business that you can borrow against, which you might not need an additional loan. Or you might have money in your IRA or 401(k) that you can invest with. Few people realize that this is even possible – but it is! If you want to talk to us about how to invest using your IRA or 401(k), just give us a call at  407-781-7312. If you have equity in the house you live in you can use your house as collateral without going to your Bank. Call us and we can get your Deal Closed!

Strategy #2. Use seller financing. Seller financing is when you close a property at a title company(Law Office) but instead of getting a mortgage through a traditional lender (like a bank) you instead get financing from the seller themselves. You simply pay the seller your “mortgage payment” every month until the house is paid off. The seller may not require good credit because ownership of the house would revert back to them if you default on your financing. One thing to remember is to make sure you get a recorded Deed and insurance in your name.

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How to find rent-to-own homes in Orlando? Written by Eugene Hoffman

How to find rent-to-own homes in Orlando?

Rent to Own Homes in Orange, Seminole, and Lake County homes through the most trusted name in Florida Real Estate, Sand Dollar Reality. Call Eugene at 407-781-7312 …

First, know all the names and terms: Rent to own, lease/option, and a lease/purchase agreement are often used interchangeably, depending on who you ask.

Not all properties are advertised this way, but technically, any property can be sold through a rent-to-own agreement.

We help people like you find properties and get through the process with minimal stress or expense.

Any property that is for sale or rent is a potential candidate for a lease agreement with an option to purchase.

The numbers can be calculated in lots of ways – the trick is working with the calculator until you find the agreement that works for the seller or buyer on the same property.

There’s a lot of great properties around Orlando on Craigslist, Zillow, Realtor.com, and even in the newspapers.

You can call and ask if they’d be willing to consider an agreement.

You’ll probably hear a lot of people tell you no, but investing the time can be worth it if you finally hear yes.

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Tips on Renting A Orlando Home By Owner | Written by Eugene Hoffman

Tips on Renting A Orlando Home By Owner

These potential home buyers are forced to rent and unfortunately cannot purchase a home even at current depressed housing prices. Unlike other programs, the rent to own program that we can help you get into enables approved Floridians to find a home that they want to rent, but also would like to eventually buy through our partner’s Pathway to Homeownership. “Lease with a Right to Purchase Program.

In today’s article, we’ll take a look at some tips on Renting an Orlando home that you should consider when renting your next home in Orlando.

As property values plummeted over the latter part of the 2000’s, many people began to turn to renting. There are plenty of reasons to rent as opposed to purchasing a home, including maintenance costs, desire to live in a densely populated part of Orlando Florida, or the desire to live in a smaller space.

Should I Rent From A Private Owner vs? Management Company?

There are advantages and disadvantages to renting from a management company.

Oftentimes, a management company will quickly make repairs, and be responsive to tenant complaints. Forward-thinking companies may offer rent payment, maintenance and repairs requests, and answers to other questions on their website. Property management companies in Orlando are usually strict about who they’re willing to rent to. They’re more likely to run credit checks, and require certain scores to consider a tenant. Many property management companies are also reluctant or outright refuse to rent to tenants with pets.

Should I Rent From A Private Owner vs? Management Company?

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How to Know if Renting or Owning a Home is Right For You

Eugene sells rent to own homes in Orlando… We understand that finding genuine rent to own homes in Orlando can be very difficult. Tips, tricks, and advice

So, you’re looking at moving and you’re not sure if renting or owning a local Orlando home is right for you?

You’re not sure if one is a better financial decision than the other?

You’re not sure if you’ll be able to find the type of house or apartment you’d like to live in?

You’re not sure what you can handle financially?

Well, this article will dive into ways you can learn how to know if renting or owning a home is right for you in the Orlando area.

How To Know If Renting Or Owning A Orlando Home Is The Right Choice

Throughout the 1950’s-1990’s, home ownership was a major goal of most families across America. Owning a home was the “American Dream” and if you didn’t own your house there was almost this stigma that went with that.

But, that rule has changed in recent years. The economic downturn paired with the bursting of the housing bubble makes renting an attractive option for many Americans… maybe even you.

In the past, the choice to rent or own here in Orlando was about whether you’d prefer to live in a house or an apartment. Now, there are opportunities to purchase apartments / condos and rent homes, so there are options for renters or perspective owners to live in whatever type of property that they’d prefer.

Renting is great for people who want flexibility. Perhaps you’re just starting your career, and you’d like to be able to relocate quickly. Renting is a wonderful option for people who like to “try out” various neighborhoods in their city before finding a place to settle down.

Owning a home ties you to one location for a good period of time. It would destroy your credit to step away from your mortgage, and sell your home is a long, arduous process that could end in you losing some of your initial investment.

In many cases, contrary to popular opinion, it can be more cost-effective to rent than own, especially in situations where the local housing market isn’t going up in value very much each year. While renters pay a fixed amount each month, homeowners are required to pay additional fees, such as homeowners insurance, maintenance, repairs, HOA (local community association fees), amongst others.

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How Do Rent To Own Homes Work In Orlando | Written by Eugene Hoffman

How Do Rent To Own Homes Work In Orlando

The City of Orlando is nicknamed “The City Beautiful” and its symbol is the fountain at Lake Eola. Orlando is also known as “The Theme Park Capital of the World” and in 2014 its tourist attractions and events drew more than 62 million visitors

One of the first questions we get from potential tenant buyers of our local Orlando Florida rent to own homes / lease option homes is “how do rent to own homes work in Orlando?”

With a flooded real estate market, especially since the bubble burst of the mid-2000’s, rent-to-own homes have become a popular option for people who are deciding whether to purchase or rent a home.

Renting to own offers advantages to both buyers and sellers.

For the seller, they have a steady income to make steady mortgage payments, while the seller has a period, typically a year or two to organize his or her finances and secure financing to buy the house.

The Local Rent To Own House Process

Renting a home to own a house is a relatively straightforward process, though many people are confused.

A common misconception is that the renter can live in the home and pay rent over a period of 15, 20, or 30 years, then own the home. It’s slightly more complicated that that.

But here are the basic elements of a rent to own agreement. 

• The buyer and seller draw up an agreement, covering all terms of a rent-to-own agreement.

• This contract will state the monthly rent and a set period of time.

• The renter will have the option to purchase the home at an agreed upon price at the expiration of the agreed upon time period.

By giving a potential buyer a year or two to get their financial house in order, the seller can continue to make mortgage payments on the home, while living elsewhere. This is beneficial to the buyer, as if they’re sure that they can acquire financing, they can usually begin customizing the home to meet their needs and preferences… essentially treating it like you own the house (because you may own it someday!) and having that sense of home ownership during the process.

How Does The Monthly Rent Work With An Orlando Rent To Own House?

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Are Orlando Rent-to-Own Homes a Scam? | Written by Eugene Hoffman

Are Orlando Rent-to-Own Homes a Scam?

. Unlike other programs, the rent to own program that we can help you get into, enables approved Floridians to find a home that they want to rent, but also would like to eventually buy through our partner’s Pathway to Home ownership

If you’ve spent time driving around Orlando Florida or browsing Craigslist or other sites, you may have seen advertisements that read, “Own a home for $500/month. No credit check!”

While it seems too good to be true, local rent-to-own homes are a viable option that many Orlando residents are taking advantage of.

But…

Are Orlando Rent-to-Own Homes a Scam?

In any business there are a few hucksters who aren’t doing the right thing that give everyone else a bad name.  But renting to own / lease option homes aren’t a scam and they’re a really great way for people get on the path to home ownership if your financial situation prevents you from getting a home loan right now.  You can find hundreds of great articles online from reputable resources that back up the fact that rent to own (also called a lease option by many people) is a legitimate and great way to work your way into home ownership.

full article on website. Click here...

Are You Required To Buy The House In A Rent To Own Home Contract? | Written by Eugene Hoffman

Are You Required To Buy The House In A Rent To Own Home Contract?

Tips, tricks, and advice to find great rent to own properties around – plus info on ways to get the best deals and how to avoid scams.

A really common question and concern from people looking at renting to own an Orlando house are “are you required to buy the house in a rent to own home contract ?” at the end of the rental term.

As an example…

… let us say you found a great Orlando rent to own home and agreed on an attractive rent to own agreement (lease option) with the seller that looked like this…
– $10k upfront
– $1,800/mo
– $200k purchase price option at the end of the 24-month rental agreement

Under that example, you have the opportunity to purchase the home for $200k within 24 months (often times you can purchase the home BEFORE the rental agreement ends with no problem).

So, Are You Required To Buy The House In A Rent To Own Home Contract / Agreement?

If the 24 months comes up and you're just not ready to purchase the home… but you still love the home and want to live there still… just connect with the seller and see if they're willing to offer you an extension on the rent to own contract.

Often times, if you've been a great renter and show a genuine intent to buy the house… the seller will work with you (it's in everyone's best interest).

If the 24 months comes up and you're just not ready to buy and you don't want to stay in the house… you can move out and not purchase the house… usually with no penalty.

What Happens To The Money You've Paid The House Owner Up To This Point?

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Do I Earn Equity With A Rent To Own Agreement? – Orlando Rent To Own Program | Written by Eugene Hoffman

Do I Earn Equity With A Rent To Own Agreement? – Orlando Rent To Own Program

Lease with a right to purchase. Providing a fair and transparent path to homeownership.

This question comes up again and again… and honestly, the answer this question has changed in recent years based on new laws enacted that affect what a homeowner can do when they’re selling their house under a rent to own agreement.

One of the big benefits of owning a house is that you (hopefully) earn equity as you make payments and pay down the mortgage.

One thing many homeowners don’t take into account is that really during the first 5 years (or more) the majority of your mortgage payment to the bank is interested… and very little of your payments for the first 5 years actually goes to pay down the principal and earn you equity.

But on the flip side, the 2nd half of your mortgage is usually where the majority of your equity is earned since most of those payments go to the principal.

So how does it work with a rent to own agreement?

When you do a lease option / rent to own home in Orlando there are various types of arrangements you can choose to take… but the most common is this:

1. You find the rent to own house you like and apply
2. You and the rent to own house owner agree on a monthly rent, a “move in” type fee that basically pays for the privilege to have the opportunity to purchase the home late, and the price of the purchase at the end of the rental agreement if you want to buy it.
3. You move in and pay your monthly rental payment and treat the house great (since you may be owning it someday).

Eugene sells rent to own homes in Orlando… We understand that finding genuine rent to own homes in Orlando can be very difficult. Tips, tricks, and advice

In the old days of lease options / rent to own agreements, a homeowner was allowed to let a portion of the monthly rental payment be applied to the purchase price as a pre-paid down payment.

This was great for everyone!

It helped the tenant buyer earn money off of the purchase each month they made a payment… and it helped the house owner sell the house more often at the end of the rent to own agreement since now the tenant had some “equity” in the deal.

But in recent years, a bill was passed in Washington D.C. called the Dodd-Frank Act that has placed restrictions on rent to own programs… and has limited the ability to apply rental payments to the end purchase of the home.

The full article on website. Click here.

Renting An Apartment vs. Renting A House in Orlando | Written by Eugene Hoffman

Renting An Apartment vs. Renting A House in Orlando

Eugene sells rent to own homes in Orlando… We understand that finding genuine rent to own homes in Orlando can be very difficult. Tips, tricks, and advice

So, you’re looking for a place to rent in Orlando?

As you’ve already seen… there are a lot of options in the Orlando area for housing.

All the way from apartments in Kissimmee rental houses in Sanford… condos… mobile homes, and more.

But if you’re struggling to decide if you want to rent an apartment or a house… check out our tips below on the “pros and cons” of renting a local apartment vs. the pros and cons of renting a local house. (also, see our blog post on pros and cons of Rent to Own Programs for more detailed info >)

Renting An Orlando Apartment –

There are lots of great apartments in Orlando.

You’ve probably found new apartment complexes with all kinds of amenities like a swimming pool, gym, rec area, and all kinds of other perks.

And you’ve probably come across some bare-bones apartments that just gave you 4 walls and not much else.

So here’s some Pros for renting local apartments:

• Often rent is cheaper with an apartment vs. renting a house
• Sometimes some services are included in your rent (trash, water, etc.)
• Maintenance is 100% taken care of by the management (if you’re in a bigger complex, usually the maintenance person is on-site and can repair things quickly)
• Sometimes there are more apartment units available than houses you want
• Amenities are often included like rec rooms, gyms, pools, and more.
• Sometimes you can pick up your neighbor’s wifi!

Here are some Cons of renting local apartments:

Full article on website. Click...

Orlando Florida Houses for Rent – Why rent when you can own? | Written by Eugene Hoffman

Orlando Florida Houses for Rent – Why rent when you can own?

Eugene sells rent to own homes in Orlando… We understand that finding genuine rent to own homes in Orlando can be very difficult. Tips, tricks, and advice

If you’re looking for Orlando houses for rent you may want to consider your other options as a potential homeowner in the  Orlando area.

Most locals who are looking for homes to rent in Orlando are likely looking at renting as their only option because of things like…

– Bad credit (and can’t get a traditional bank loan to purchase a home)

– Not enough funds for a large downpayment on the Orlando home you want to live in

– … or you’re just used to renting and didn’t know there were other options.

How Many Orlando Area Renters Are Turning To Home Ownership By “Renting To Own”?

If you haven’t heard of “renting to own” a home (some call it a “lease option”), you’re not alone.

But the “rent to own” concept isn’t new.

In fact, renting to own has become really common for many things, including furniture, electronics, cars, and more.

And the rent to own concept for houses has been around for decades as well.

Click to read full article.

Orlando Florida Houses for Rent – Why rent when you can own? | Written by Eugene Hoffman

Orlando Florida Houses for Rent – Why rent when you can own?

Eugene sells rent to own homes in Orlando… We understand that finding genuine rent to own homes in Orlando can be very difficult. Tips, tricks, and advice

If you’re looking for Orlando houses for rent you may want to consider your other options as a potential homeowner in the  Orlando area.

Most locals who are looking for homes to rent in Orlando are likely looking at renting as their only option because of things like…

– Bad credit (and can’t get a traditional bank loan to purchase a home)

– Not enough funds for a large downpayment on the Orlando home you want to live in

– … or you’re just used to renting and didn’t know there were other options.

How Many Orlando Area Renters Are Turning To Home Ownership By “Renting To Own”?

If you haven’t heard of “renting to own” a home (some call it a “lease option”), you’re not alone.

But the “rent to own” concept isn’t new.

In fact, renting to own has become really common for many things, including furniture, electronics, cars, and more.

And the rent to own concept for houses has been around for decades as well.

Continue reading and more...Click

What To Look For When Renting To Own A Home In Orlando Florida | Written by Eugene Hoffman

What To Look For When Renting To Own A Home In Orlando Florida

Eugene sells rent to own homes in Orlando… We understand that finding genuine rent to own homes in Orlando can be very difficult. Tips, tricks, and advice

Renting to own a home in Orlando or any city for that matter, isn’t a new concept… but the whole process of “renting to own a house” is a process that most people have questions about.

Well, you’re in the right place!

This article will walk you through what to look for if you’re looking for Orlando rent to own houses.

1. Find The House You Want To Live In Long-Term… Not Just Rent

A lot of people who are deciding whether they should just rent or “rent to own” look at the whole rent to own / lease with option process in the wrong way. Don’t look at it like you’re looking for a house to rent for a little bit.  Of course, you should find a house that is one you’d love to live in for a longer period of time (no less than 5 years).

Why?

Because with rental houses, you know it’s a temporary thing… so you’ll settle for a house that is less than ideal.

But since you’re really looking to get a house to live in for years and years with a rent to own… it should be one that you can see your family in for years.

Yes, you’re renting a “rent to own” house… but you should choose a house you’d be glad to live in for years just in case you do exercise the purchase option at the end of the lease term.

2. Terms That Fit Your Goals And Needs as An Orlando Home Seeker

Not all rent to own houses in Orlando have the same contract that goes with them. So make sure to find out the terms of the rental agreement and the terms of the purchase option as well.  Usually, the monthly rent tends to be a bit higher with a rent to own agreement vs. a normal rental agreement… because you’re basically paying a premium for the ability to potentially purchase that house at a pre-determined price in the future. There’s a lot of value in that.

But with rent to own agreements you should also have some flexibility that protects you. Make sure there are no fees for not exercising the purchase option at the end of the agreement.

Also, clarify with the owner of the house on who will pay for things during the rental term like…

• Maintenance
• Lawn care
• Insurance
• Repairs
• Upgrades inside the house (new appliances, paint, etc.)

Get it all in writing who’s in charge of these kinds of things during the rental term.

We are dedicated to helping working families or singles with a fair and trustworthy path to homeownership through this incredible rent to own program. The Financial crisis has created many reasons households in Orlando cannot obtain a mortgage, despite the fact they have a stable source of income and the ability to pay. These potential home buyers are forced to rent and unfortunately cannot purchase a home even at current depressed housing prices.

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