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Presentation On Lease Option For Potential Tenant


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Learn how our rent-to-own or Lease Option program can help you to buy your home. Even if you have bad credit or no down payment. Our rent-to-own program can help you.

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Presentation On Lease Option For Potential Tenant

  1. 1. HAPPINESS INSPIRATION RENT-TO-OWN (LEASE OPTION) Thomas Wong 416-806-9568 [email_address]
  2. 2. Who am I? <ul><li>Thomas Wong – The Lease Option Guy in Brampton </li></ul><ul><li>A real estate investor focuses on Lease Option projects in Brampton …Kitchener/Waterloo (over 25 projects in the last few years) </li></ul><ul><li>Do fix and flip projects </li></ul><ul><li>Have rental properties </li></ul><ul><li>On track to do at least 2-3 projects a month </li></ul><ul><li>Have been a process/quality improvement professional in my previous life </li></ul>
  3. 3. What is Lease Option? <ul><li>Rent-to-own your home </li></ul><ul><li>Lease with option to purchase </li></ul><ul><li>The program </li></ul><ul><ul><li>Small initial deposit (part of down payment) </li></ul></ul><ul><ul><li>Monthly payment (partly rent, partly toward down payment) </li></ul></ul><ul><ul><li>Option to purchase the house at the end of the lease term </li></ul></ul>
  4. 4. Benefit of Lease Option – Tenant <ul><li>Opportunity to buy a house under difficult circumstances: </li></ul><ul><ul><li>Not enough down payment </li></ul></ul><ul><ul><li>Bad credit or no credit history </li></ul></ul><ul><li>Lock in purchase price when saving up for the down payment </li></ul><ul><li>Pride of ownership and flexibility in upgrading the property </li></ul>
  5. 5. Benefit of Lease Option – Landlord/Investor <ul><li>More or less worry free tenant </li></ul><ul><ul><li>Option premium </li></ul></ul><ul><ul><li>Tenant pride of ownership </li></ul></ul><ul><li>Saving in selling cost </li></ul><ul><li>Lock in profit and cash flow </li></ul><ul><li>Improve cash flow </li></ul><ul><li>Secure investment </li></ul><ul><li>Helping people and earn money (Feels Good AAh!) </li></ul>
  6. 6. <ul><li>Focus on Win-Win relationship </li></ul><ul><li>Emphasize on making sure tenant can buy the property at the end of the term </li></ul><ul><li>Provide mortgage broker support and guidance to the potential tenant </li></ul><ul><li>Involve tenant in the renovation process, it is almost like buying a new home for the tenant </li></ul><ul><li>Ensure cash investors have reasonable return </li></ul><ul><li>Professional project management </li></ul>Happiness Inspiration Way of Lease Option
  7. 7. A typical rent-to-own client <ul><li>I cannot or do not want to put 5% to 25% of the purchase price as down payment to buy the house. </li></ul><ul><li>I have poor credit history for getting a good mortgage to buy the property. </li></ul><ul><li>I do not have steady income record/history to get a good mortgage for buying the property. </li></ul>
  8. 8. A typical Lease Option Case
  9. 9. A typical Lease Option Case
  10. 10. What is the catch? <ul><li>It is a commitment. </li></ul><ul><li>You need to like the property. </li></ul><ul><li>If you do not exercise the option or default in your monthly payment, the contract will be voided. The seller will keep the option premium. </li></ul>
  11. 11. What should you look for? <ul><li>Property is in a good location and will appreciate in value </li></ul><ul><li>Reasonable arrangement for future purchase price </li></ul><ul><li>Reasonable portion of the monthly payment goes towards the future purchase price – enough down payment </li></ul><ul><li>Flexible buy-out schedule </li></ul><ul><li>Reasonable arrangement during lease term </li></ul><ul><li>Make sure that you can afford the property </li></ul>
  12. 12. How can I qualify for the program? <ul><li>Fill in application form </li></ul><ul><ul><li>Current employment (steady income) </li></ul></ul><ul><ul><li>Current landlord contact information (well behave tenant) </li></ul></ul><ul><li>Credit report and consultation with our mortgage broker </li></ul><ul><ul><li>Ability and willingness to improve credit situation within a reasonable time frame </li></ul></ul>
  13. 13. What is the next step? <ul><li>Make sure that you like the property </li></ul><ul><li>Seek legal advice on the lease with option to purchase agreement </li></ul><ul><li>Submit an application form and provide reference information </li></ul><ul><li>Consult with our mortgage broker </li></ul><ul><li>Sign contract </li></ul><ul><li>Move in and Enjoy!! </li></ul>
  14. 14. We turn real estate opportunities into Happiness Inspirations
  15. 15. Questions & Answers
  16. 16. Sample Pictures of Projects