...while Joe worked his well paying job (aka had no time off!) In a few years we had 4 rental properties and didn’t love having to do the maintenance, repairs, and getting those phone calls on vacation that the new faucet was already leaking again. In the Spring of 2017, we were in the middle of a renovation on a house we bought on a short sale, and we decided then it was time for us to change our business model.
All four tenants in our rentals were offered the lease with the option to buy the home, but no one did. Come Summer, we had 5 available properties for rent to own. Summer 2017 was INSANE but we survived! We have never once regretted to offer a lease purchase and are SO much happier running our business this way.
With some direct mail campaigns, and sort of using Facebook, we started growing our portfolio. We bought homes on seller financing and another on a wrap around mortgage. We knew that one day our dream was for Joe to walk away from the car business and work full time in real estate together.
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