Summary:
In this episode of the True Wealth Podcast, host Seun Adeyemi interviews Alfonso Salemi from JAAG Properties about the rent-to-own program. They discuss how the program works, including the roles of tenant buyers, joint venture partners, and referral partners. They also cover topics such as down payment requirements, determining future purchase prices, and the process of exiting the program. The conversation highlights the benefits of the rent-to-own program, including stability, security, and predictable returns for investors. Overall, the program offers a win-win-win solution for all parties involved.
Takeaways:
The rent-to-own program helps individuals and families who can't qualify for conventional financing to achieve home ownership.
Tenant buyers have the opportunity to choose the home they want to own and work towards building their down payment and improving their credit.
Joint venture partners invest in the program and receive monthly cash flow and a predetermined profit at the end of the term.
Referral partners, such as real estate agents and mortgage brokers, can refer clients to the rent-to-own program and still earn commissions.
Chapters:
00:00 - Introduction and Background
01:22 - How Rent-to-Own Works
03:30 - Choosing and Purchasing the Home
06:30 - Moving into the Property
07:21 - Down Payment Requirements
08:46 - Extending the Program
11:11 - Determining Future Purchase Price
12:07 - Agreements and Contracts
14:08 - Exiting the Program
17:30 - Handling Missed Payments
19:03 - Extending the Program Duration
20:51 - Joint Venture Partners
23:20 - Partnership with Referral Partners
32:17 - Location Restrictions
35:24 - Conclusion and Contact Information
Featured on the Show:
Alfonso Salemi
VP of Business Development
C: 905-902-3669
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