A cozy single family home with 2 bedrooms & 1 bathrooms.
Rental Facts and Features
- Address: 38618 Kapok Ave, Zephyrhills, FL 33542
- Purchase Price: $105,000
- Minimum Down Payment: $5000
- Monthly Rent: $1200
- Type: Single Family
- Year built: 1955
- Heating: Other
- Cooling: Central
Rent to Own Form
Please fill out this form and click “Submit.”
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It means you can rent the property while you build your credit in order to buy the property.
After Repair Value – 140k
Rent to Own:
Purchase price: 105k
Minimum Downpayment: 5k
Rehab needed: 26k
Rent per month: 1200
Period: 2 years
This means you need to make the down-payment of 5k out of the purchase price of 105k. You can then move into the property and pay a rent of 1200 a month. Anytime within the next 2 years, you can purchase the property by paying the remaining 100k. You can choose when the purchase happens. It could happen in the first month or the 23rd month. It’s up to you! It usually depends on how long it takes for you to build your credit and get a mortgage.
Private Financing:
Cash Purchase:
If you want to purchase this property directly with Cash or with Traditional financing right away, there will a discount of 20k on the purchase price.
This would be great news for you! Regardless of how much the value of the property increases, your purchase price will remain the same :)
All the benefits of appreciation go to you. The projected increase in the value of your property is 7% over the next one year alone. This means you are building 7% equity even before you purchase the property.
You are not responsible for taxes and insurance payments while you are renting. The landlord is responsible for them. You only have to pay rent.
Once you purchase the property, you will be responsible for the taxes and insurance.
As the future owner of the property, you will be responsible for the upkeep of the property.
Any amount that you pay above $1200 a month will be credited towards reducing your purchase price.
The property needs work. The approximate cost will be in the range of 26k.
If you are contemplating an outright purchase, the purchase price discount of 20k takes this rehab into consideration.
No. You don’t have to pay any commissions at closing (which are normally thousands of dollars!). You just have to pay the costs towards the closing and the origination of your loan (if you choose to get one).
You will have to restart the process.
A person who is handy and looking to build sweat equity in the home. It’s an excellent fit for somebody who wants to buy a property today but is not able to get a loan. With this option, you can build equity in the property while you improve your credit. You can purchase the property anytime within the next 2 years as soon as you are able to get a loan.
- Appreciation is all yours – Regardless of the increase in the price of the property, your purchase price remains fixed. Any appreciation in the value of the property goes to you!
- Pride of Home-ownership – You experience the pride of home ownership from the first day even though you haven’t purchased the property.
- No tax or insurance payments until you buy – Until you make the purchase, you are not responsible for any taxes or insurance payments.
Retail Buyer / Private Financing – 2.5% of the purchase price
Rent to own – 25% of down-payment
