Lease Purchase Programs - Home Partners of America, TRIO, Divvy & Dream America

are you looking to do a lease purchase on a home I've compared four different programs and I'm going to share my findings stay tuned [Music] hi my name is Natasha Brazil with soul by Netcom real estate services and I help people improve their lives and build wealth by owning real estate and I do this by enlightening educating and guiding them through the buying and selling processes if you have not already subscribed please go ahead and do so hit that button below I bring you new content every Tuesday and my content is geared toward home buyers home sellers homeowners and renters so now that we got that out the way let's get in today's topic today's topic is lease purchase programs if you are not familiar with what lease purchase programs are basically someone wants to rent a home but their intention is that after this lease they want to go ahead and buy it so they're gonna lease it now but their intention is to purchase it later for many years I would advise against doing the lease purchase and the reason why is because it just depends on how it is structured a lot of the times you'll end up putting a large amount of money down upfront and if you decide not to buy that property or things don't work out you lose that money so they were really set up or can be really set up to benefit the landlord or the owner okay I have come across a couple of companies that offer a lease purchase option and I feel comfortable enough to present this as an option to my clients I have two disclaimers for you before we get started one the information that I'm going to share is based upon my research on paper I have not personally purchased a home through lease purchase okay some of these companies I am more familiar with than others but again these are my opinions and I urge you to do your own research do your own due diligence and then you have to apply it to your particular situation and what's going to work out best for you that leads me to my second disclaimer any time someone asks me about a lease or lease purchase I first talk to them about getting approved to just buy outright it's gonna be in your best interest and cheaper in the long run for you to just go ahead and buy outright there are some people who cannot for various reasons buy outright within the next 12 months those people may want to look at these programs to see if that's an option for them the four companies that I compared our home partners of America Trio Divi homes and Dream America and I spent a lot of time going through each company and putting this information together okay if you see me looking down just know I have my laptop here with my lovely Excel spreadsheet that I put together Pat myself on the back so let's start with home partners of America and this is directly from their website and their About section home partners of America allows you to find a home that you want to rent from us initially but you may also like to buy any time within the next three to five years okay they are available in several states if you go to their website you click on communities you can see all of the states that they are listed in in my opinion this program would be good for a person that needs a couple of years to qualify to buy a home but they want to get into that home now okay one of the highlights from this program is as I compared them against the other programs they seem to have the lowest monthly cost okay so that was the highlight that I gathered and what I did is I went in and I put in the same property in every you know website and compared what it you know what is that the monthly rent was going to be and I also did that for how much it would be to buy it back and and if the rent escalated okay next up is Trio if you are in the state of Georgia like I am at the time that I'm recording this video Trio is kind of on hold and if you go to their website to apply you will get this disclaimer important announcement please read carefully due to a delay with the Department of Housing and Urban Development Trio is temporarily not accepting any new purchase and sale agreements in Georgia we are continuing to process applications and have a few move-in ready homes available in the Atlanta market we XA you wait to submit any offers on a home as we're not accepting any purchase of sale agreements in Georgia at this time and then it goes on to say basically for all other markets as we continue with norm operations for updates and announcements please sign up for our newsletter okay so they are currently on hold and not accepting any new applications but I'm still gonna go ahead and review them because when they do start accepting new applications is to definitely want to look into alright so they're about Trio offers a new path to homeownership that's affordable realistic sustainable and secure for American households it allows the renter to assume the mortgage when they qualify all right they are available in several states as well and if you go to their website you check click on locations and you'll when they're available my opinion for this company trio again it's for the person that's going to need a couple of years to qualify for their home so they're similar I would compare home parts of America and trio the highlight for trio is that so you get to assume there's a loan in the future when you're ready to buy so let's just say you're in the house two years three years and now you're like okay I'm ready to buy you assume the mortgage that trio has in place which has several benefits to it next up is Debbie Homes dippy allows you to choose the home you want to live in now while saving up for a downpayment divvy is available in the metro areas of Georgia Cleveland Tennessee so Georgia that means Atlanta metro Cleveland is akron metro tennessee is method memphis in metro my opinion is that this is for the person that wants the house now and needs help saving for that down payment because divvy is gonna make sure that you have that down payment when it comes time for you to buy and just in short seventy five percent is going to go to your rent and maintenance cost and twenty five percent is going to go to your savings for your down payment so you're gonna have your down payment when it comes time to buy the highlight to this program is that it has the highest monthly cost so it's a little bit more than the other ones but it forces you to save for a down payment so if you're one of those people that have been saving for a house for a very long time and it has not happened but you have the newest bags and shoes and yes you might want to take a look at this program okay last but not least is Dream America Dream America offers a 12-month lease with the option to buy program it's offered exclusively to aspiring homeowners it is for individuals and families that want to pick a home from any available from their community within an approved budget lease it from Dream America and then buy as soon as they qualify for a mortgage they are available in metro areas of Florida Georgia Nevada Tennessee and Texas my opinion of this is this would be good for the person who couldn't get approved for a mortgage but they really want that house and they can definitely get qualified within the next 12 months and this is more of a shorter term professed I'm gonna say divvy and dream America their goal is not to be long-term landlords they are truly trying to get you to be a homeowner you know quickly trio at home parts of America give you a little bit more time to get it together dream America you definitely need to be getting together within 12 months after those 12 months they could still work with you but ideally they want to get you in the house within 12 months the highlight and what I say highlight is not like the greatest thing about this program but one something that stuck out to me with Dream America the applicant needs to have at least seven to ten thousand dollars to work with okay this is a short-term program and aside from that they also have a program that help people compete as cash buyers so if in some markets you know there's a lot of competition and if you have been trying to buy a house and you have been losing out to cash offers they have a program that could and you have to go to the website to look at all the details but you could as a cash buyer I have not yet decided if I'm gonna post this information on my website but I can definitely tell you that if you call me I will definitely talk to you about some of these programs and if you email me I'll send you some information as well my contact information will be in the description box you

Channel: SOLDbyNat - Georgia REALTOR, Natasha Bazile

Views: 22,523

Rating: 4.9120879 out of 5

Keywords: lease purchase, lease purchase in Georgia, rent to own, rent with the option to buy, lease with the option to buy, Gwinnett county real estate, home.partners of america, trio, divvy, dream america, rent to own georgia, rent to own in georgia, divvy homes, home partners of america georgia, home partners of america, divvy homes georgia, dream america lease to own, dream america lease purchase, home partners of america lease purchase, divvy lease purchase

Id: q06mjUrhyW4

Length: 10min 56sec (656 seconds)

Published: Tue Oct 23 2018