So in October i am getting married. Our lease ends in our current apartment on Dec. 31st. We would like to buy a house but buying a house in two months just isnt going to work. We would be interested in looking into a rent to own type deal or if someone know where they list that type of info would be awesome
any info is greatly accepted.
It’s uncommon in upstate NY which means your choices are limited and you’ll be less likely to find exactly where you want to live. The terms are just a negotiation, how much you have to pay now compared to the option of purchasing at the end of the term. Either way, your rent will be higher than otherwise because you are paying for the option to buy in the future. RTO/LTO is worth looking into, just may be slim pickins up there still (just a guess, I’ve been gone two years now).
Depending on the math, an alternative would be to rent a normal place and save the difference to put towards getting into a house in another year. That way if you dont end up buying, you still have the cash difference. If you dont buy the RTO place, you’re out the higher rent typically. Landlords/apt corporations are taking a beating right now, so I bet you can work yourself into a month to month or short term (3mo?) deal to stay in your current place if your lease is in good standing. Despite what you hear on the news, people with decent credit and reliable jobs (especially married, congrats BTW) can still get into home ownership very cheaply. I’m a real estate developer doing new home construction and the big builders are putting nearly everyone into a new house here. It’s not a given like it was 5 years ago but not as hard as you’d think.
i havent ever seen to many rent to own things around this area. You might want to check with your landlord or look for a place that would do a month to month with like a minths notice before leaving.
Thats the biggest thing when our lease is up we are gone. This places SUCKS. It was nice the first two months. then shit started going wrong. In the last month 14 apartments have been vacated. if that doesnt say something about the landlord/building/maintinance. I love the area where we are just a pain in the cock to find some place decent.
Rent to own is kinda hard to find as your pretty much fucking the owner of the house lol… Your paying rent while taking your bill off of the house making renting an apartment/house useless.
If you are serious I can give you my friends number who does contracts with houses… He puts a couple thousand dollars down which buys him say 6 months… In that 6 months, he rehabs and trys to sell the property… If he doesnt succeed he puts another couple thousand down and keeps it going…
If you have a big enough down payment ($10k?) I can make him finance you on a house HE finds and you like. He has a realestate lawyer that will protect both of you so no one gets fucked.
He will also find you the best deal around gaurenteed, me and him are looking at a 5 unit currently for $17,000 in Amsterdam, but hes found single familys in Colonie for $40k, Rotterdam houses for $30k, Schenectady houses very livable for $15k ext
Do not LTO/RTO. Usually end up getting fucked somewhere.
Single family in Colonie for $40K is a fucking dump/needs work/major renovation/short sale disaster/HUD type shit.
Finding quality houses in Colonie for under $110K, keyword is quality is difficult.
Wrong, fucking house needs an exterior paint job which can be done for like $800, roof, plubing, electrical is perfect, inside is perfect… House is located right by C.C.C on boarder of Albany and Colonie, a PERFECT location… Please do not speak of what you you do not know.
thank you
Looking into colony right now there are a number of houses asking 60k to start. Small of course and or outer areas but still colonie.
Exactly. $60k means $40k IF not less.
:rofl. Don’t tell me what I don’t know. I’ve been in the real estate business for 6 years now.
I’m not picking on you either because it’s you, I would have said that to anyone who posted it.
Send me a link with the address. Someone would of scooped up a house in Colonie in good shape for $40K FAST AS HELL.
OP is also coming from a nice apartment, I’d assume doesn’t want to be in dump/ghettoville.
Edit, just searched. I see a lot of this:
"Description
Proof of funds, sold as is conditon, Short sale listing third party approval needed 3+ Bedroom , ample parking."
GL with that.
Also, a lot of those houses you see are cash only sales. Banking need not apply.
You must not be a good real estate broker if you cant find deals like that. Look on MLS, deals all the time.
And FYI ill tell you why they dont sell “FAST AS HELL”
Banks dont want to give out loans for less then $60k and even $60k becuase there not making shit. Aside from this, banks are not giving out $40k personal loans MEANING lots of these houses are cash deals and not everyone has 40k laying around.
I got a freaking steal on my house becuase I paid cash for it.
you added the part about cash deals while i was typing it, you should know then, not alot of people have that money to buy outright.
I do just fine thanks. I work for the top selling realtor in Rensselaer county.
OP doesn’t have 40K lieing around I don’t think or he wouldn’t be asking about Rent to own so I don’t understand why you’re suggesting $60K cash properties.
Also, the flip market is not what it used to be. Talk about saturated.
Problem is people think they can search Zillow and find a house to buy with a price on it not understanding conditions.
Yes, but he might have $10k down in which case I can make my friend finance him personally through contract… He does it all the time.
IMO sketch, stay away from rent to owns, etc. See if you can move in with folks for those couple months, or something. Maybe see if you can sign a 3 month lease somewhere.
Whatever you do, find a GOOD realtor. Good realtors are worth their weight in gold. You get shit ones out there too. PM me if you need any assistance with anything. I’m more than happy to help. Just be careful and have your trusted attorney (hopefully has real estate law experience) look whatever you sign over. Housing is a great investment. Just going to need some % down. The days of 0% down are over.
op, if you continue to rent, check out Harmony Mills, shit is fucking sick… A little expensive but not reaallyyy… Gym on every floor, pool w/hot tub, indoor parking w/ your own storage unit, library, Electric, internet, phone, cable all included in rent… Think 16-18 foot cielings ext… Also has a bar/party room you can use for parties ext for FREE, just have to sign it out in advance… They even take dogs.
ssshhh your mouth ryan. shifts shadiest gold dealer knows all. LOL. just fucking around continue debate
op, heres a few dirt cheap houses, most are cash deals but you may have some cash laying around and could get a personal loan for the rest… Live in/fix it up and flip it for triple while you look for a new house.
http://CRMLS.fnismls.com/publink/default.aspx?GUID=a7feffac-a74a-468f-bbeb-29a50d189920&Report=Yes
This.
Arent you paying a lot for school dist in Colonie, or did that decompress a little bit over the last 2 years?
I live in East Greenbush, where taxes are out of fucking control.
Colonie still has super low taxes, but they are heading way up.