Currently my focus in real estate is leasing and selling commercial real estate in downtown Reading, PA. However, I am still involved in the occasional residential transaction. I recently moved here from NJ, and today I listed my old home in Collingswood, NJ as a rent to own. To my pleasant surprise, I had a showing scheduled within 2 hours of my listing, and provided everything goes as we discussed, we'll be filling out their paperwork on Wednesday.
To those of you who listen to the gloom and doom in the media, this story probably sounds completely unbelievable. What most people don't realize is that when you hear about 'the market' in the news, you're only hearing about averages and 'typical' transactions. In most markets there are always some properties in high demand. Today, due to tough credit markets, properties that offer rent to own or other types of seller financing tend to do very well. Since the downturn in the economy, I have been involved in several of these transactions, and usually everyone ends up better off than if they had taken part in a cash transaction. The seller usually gets a better price, and the buyer is able to buy something that they would not have otherwise been able to. It is baffling to me that more sellers don't entertain rent to own transactions.
One of the opportunities that I've noticed in Reading, PA is purchasing investment real estate using rent to own or seller financing techniques. This can work whether the property is a single-family row home or a multi-story office building. If you are considering buying or selling commercial or investment real estate in Reading, PA and you would like help structuring a rent to own or owner financing transaction, give me a call today.
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