Lease Purchase (LP) program:
Yes! It is POSSIBLE
to get
20%+ Returns!
Investor Summary:
The LP program is designed for families who simply qualify for a new home based on income, not credit. The program follows down payment guidelines for FHA and is designed to give a second chance to good people and enable them to purchase the home from the investor within a two (2) year period. The purchase price of the new home is "frozen" for 24 months, and the investor applies the tenant's 3% earnest money deposit towards the home purchase.
Program Guidelines:
3% earnest money deposit is collected from the tenant. Investor applies this to the eventual tenant's purchase of the home. If for any reason the tenant slow pays, defaults, or has to be evicted and cannot successfully close on the signed re-sale contract, the earnest money deposit is forfeited.- Homes are brand new construction in Dallas-Ft Worth, Houston and some other major cities. Home prices are pre-negotiated for the investor with a 10%-15% reduction in retail price. Will usually include 2% seller paid closing costs and Owner's title policy paid.
- Rental rate is based off of 1.00% to 1.20% of the investor's purchase price, depending on tenant's income.
Example: $140,000 home Leases from $1,400 to $1680/mo - Client must sign up for credit repair with a Credit Repair Provider.
- Prospective Tenant and/or builder to provide:
- Tri-Merge credit report.
- 30 days W-2 paycheck stubs, or earning statement from employer.
- 30 days bank statements.
- 2 years of income tax returns.
- Copy of Drivers License and social security card.
- Builder comparables in neighborhood.
- 5 personal references from tenant.
The program is designed to clean up credit, pay off debt to obtain conventional or FHA financing within the two-year rental period. If tenant is delinquent and has to be evicted and cannot successfully close on the signed re-sale agreement, the tenant forfeits the 3% earnest money deposit. This is a great opportunity for a deserving family to get into a brand new home!
Call, sign up or email me with your prospects!
Ron Black 972-897-6190 TexasInvestorHomes@Gmail.com
PLEASE NOTE: We are a licensed Texas Real Estate Agency. Serious investors who can act quickly are welcome. You should be prepared to buy within 30-60 days as prospective tenants need quick action. The program is turn-key for you the Investor. Included is a qualified tenant, Money Down, brand new home, lending, contracts and forms with service second to none!
Your investment is secured 100% by real estate. Want to hear more? Sign up!
Texas Investor Homes™
Turn-Key Properties for Real Estate Investors
Houston, Dallas, Fort Worth and Greater North Texas
TexasInvestorHomes@Gmail.com
972-897-6190