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daveg
Investor/Rehabber
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Rent to Own in Rockford
Thursday, January 17 2008 08:31 AM
Anyone gauging/watching the Lease Option activity in Rockford? I have a 3br SFH there coming up for lease and I want to go with a LO, and wanted to know if anyone has been leasing lately there.
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Jim Hughes
Investor
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Re:Rent to Own in Rockford
Friday, January 18 2008 10:38 PM
Anyone gauging/watching the Lease Option activity in Rockford? I have a 3br SFH there coming up for lease and I want to go with a LO, and wanted to know if anyone has been leasing lately there. IT DEPENDS ON THE AREA THAT YOU ARE RTO PROPERTY. WEST OF THE RIVER IS VERY HARD TO RTO DUE TO THE QUALITY OF PEOPLE RENTING IN THAT AREA. BUT IF YOU ARE DOING A RTO EAST OF THE RIVER IN CERTAIN AREAS OF ROCKFORD YOU CAN DO VERY WELL.
TELL ME WHAT AREA OF ROCKFORD YOU ARE WANTING TO DO A RTO?
SINCERELY,
JIM HUGHES
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daveg
Investor/Rehabber
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Re:Re:Rent to Own in Rockford
Sunday, January 20 2008 07:29 AM
Yes Jim, I'm just west of the river. I know other property owners there who are doing it but there is the quality of applicant issue. I normally get decent to poor quality tenants but I do continue to seek out that elusive (aka: qualifiable) LTO buyer.
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Jim Hughes
Investor
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Re:Re:Re:Rent to Own in Rockford
Monday, January 21 2008 09:49 PM
Brodan1
The quality of the RTO tenant buyer is essential to hands-off management of property. If I can obtain a tenant buyer that has a good income and work history then the probability of holding onto this TB long term is good, which has been my experience.
Tenant buyers west of the river in Rockford GENERALLY dont have strong work history or income consistency thus reducing the probability that they will stay long term or exercise the contract for option.
I am showing my age as I am interested in HANDS-OFF management of my property, 12 full months of rent collection, and an appreciated strike price on my contract for option that will appraise and be potentially executed by the tenant buyer.
I know Rockford city, police and landlords are trying to clean up the many problems of the West side of the River and hopefully that will come sooner than later so that appreciation will return to that area and make it a great "farm area" for RTO.
My brother and I have written a great home study course entitled:
HUGE PROFITS LOW/RISK WITH LEASE OPTIONS. Check it out at this web site. We have all the material you need to make big profits with lease options along with the necessary forms to protect your property from bad tenant buyers.
Sincerely
Jim Hughes
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