What if you could own rental properties without the responsibility of landlording? Not only that, what if you were paid a hefty, non-refundable deposit for your home, minimizing your risk? Would you start investing under these circumstances?
If you like the sound of that, you’ll love the rent-to-own strategy, or as Today’s guest Jessica likes to call her framework, the BRRTOR (Buy, Rehab, Rent-to-Own, Repeat). Most landlords won’t offer rent-to-own to their tenants, not because they don’t want to, but because they don’t know it’s a possibility. This type of seller financing is what Jessica’s entire portfolio is built off of, and it has some major benefits for not only the landlord but the tenant.
Jessica also gives some great advice in our mindset segment, specifically relaying that a big part of real estate is making mistakes. Jessica has had some great deals in her real estate investing career, but not every one of them has turned out to be a superstar. The big takeaway for investors should be to start, make mistakes, learn from them, and do better!
In This Episode We Cover
Combining the BRRRR strategy and the rent-to-own strategy
How to vet tenants to find the best candidates for seller financing
The importance of putting ownership in the hands of a tenant
Finding homes that will profit in this highly competitive market
What to look out for when interviewing hard money lenders
Understanding that the first deal probably won’t be a home run
And So Much More!
Links from the Show
Real Estate Rookie Podcast
Real Estate Rookie Youtube Channel
Real Estate Rookie FaceBook Group
Check the full show notes here: https://www.biggerpockets.com/rookie115
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