Im talking to u, Renters!!!
September 29, 2015 | Ross Stern
Today i got a pre-qualification letter from a client who originally wanted to Rent a 3/2 in a safe neighborhood as his family is growing.
He had been somewhat un-impressed with what his budget could do in todays booming Rental market. I found him 9 properties that met his family’s needs on paper but none seemed “worth it” to them. They were mostly townhomes and didnt feel like there was much if any space to grow.
I asked them if anyone they knew had recently bought or sold a home with a lender involved. He replied, yes my dad bought a place a little over a year ago and has a great lender. I told him it would definitely be worth a few minutes talking with them to see if they can qualify you to see what you could afford to finance? You have no obligation to buy anything but you can then at least see what the same budget could get you in a different sector of the market.
Today i sent them a list of 53 single family properties that they could buy with the same amount they would have spent on first, last and security. They would have rented for upto $1800/mo. And are now shopping for upto $275k which will cost them far less than that per month. ***results vary.
Now they can begin imagining what the home their family will take root in should be like and hunting for it vigorously.