Renters...BUY a home and live for free!

By
Property Manager with AmeriTeam Property Management SL#3200658
https://activerain.com/droplet/jb5
Renters...BUY a home and live for free!

The ads are everywhere: "Stop paying someone else's mortgage!!..."OWN for less than you're paying in rent!!...and one of my favorites, "The call YOUR place an apartment- while your buddy next-door owns his 'condo thing'".

O.K., you got me. The last one's a favorite quote because I was quoting myself. Nothing gets past you guys!

Over the past few years, I've been amazed by 1) how successful fellow Realtors and builders have been at fashioning an 'us vs. them' mentality between the "owning public" and the "renting public"- but also 2) how pitifully inept the response from the "renting public" folks has been thus far.

"Owning folks": "Stop paying that guy's mortgage!", "Set your own rules!", "Paint your walls however you'd like- because they're your walls!"

"Renting folks": "Chirp...chirp!"

Hmmmm..... I don't know- it's a tough call. As many know, I'm living life in the Property Management Lane with a foot over the line into Sales-land (hence my positions on our Realtors association's Property Management Sub-Committee as well as it's Governmental Affairs Committee). Property Management and leasing is how I earn my living and (barely...somewhat) pay my bills.

There are good folks on both sides of our buy/rent fence- and while we really don't have to be loving each other, we can still be neighborly. As the great orator Rodney King once intimated, we can "get along".

We "Renting folks" had better step up our game and get the word out about the benefits that our side of the fence offers. From not having to pay HOA dues, to not having to pay property taxes, to not having to maintain appliances and so forth- there are benefits that come with one's renting a place versus them owning it.

In today's world, it's imperative to wave the "Renting is Good!" flag whenever we can- 'cause if word gets out that folks can jump over to the "buying" side of town and live free for a year and 1/2 without paying their mortgages, we'll be in a world of hurt.

So shhhhh..... don't say a word.
Posted by
 
DENNIS B. BURGESS
Property Manager

Licensed Florida Realtor
 
AmeriTeam Property Management
845 N. Garland Ave., #200
Orlando, FL  32801
 
 
 
205-445-4755 cell/direct
407-901-3636 x103 office
407-901-5147 office fax
 
Turning vacant into occupied, and "houses" into "homes"SM
 
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Rainmaker
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Jordon Wheeler
The Jordon Wheeler Group - Fairburn, GA
J W Group Real Estate Sales and Service

Hey Dennis,

I too walk the line with leasing services and buying and selling.  I tell fellow real estate professionals you have to be open to the opportunities wherever they exist in our inddustry.  I have clients that have the credit necessary for a loan approval but want to rent and other clients who want to own but credit is not there.  So they are stuck with a lease arrangement.  My preference is that my clients own their properties and use the real estate to build wealth.  But I help them in anyway possible to get into a place they want to call 'home.'

Thanks for the post and best of SUCCESS to you!

Sep 07, 2011 06:15 PM #1
Rainmaker
422,451
Dennis Burgess
AmeriTeam Property Management - Mid Florida, FL
Orlando Property Manager and Realtor

Hi, Jordon:  Thank you for stopping by, and for your words and sentiment.  I'm tbe same way, for the most part.  I'm sure the table will tilt when the market recovers, but I will tell owners that they really shouldn't sell unless they have to sell these days.  Some are cynical and think that I'm just tryng to herd them towards property management, but after they listen to me for a few more minutes and hearing me ask them if they really want to gve their place up for $.40-$.50 on the dollar, they finally get it.

Sep 07, 2011 06:57 PM #2
Rainmaker
1,023,915
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

I had a client call me to find him and apartment to rent.  I showed him it was cheeper to purchase.  Now we are in escrow.

Sep 07, 2011 07:39 PM #3
Rainmaker
422,451
Dennis Burgess
AmeriTeam Property Management - Mid Florida, FL
Orlando Property Manager and Realtor

Hi, Tim:  Thank you for stopping by, and for your comment.  As I always say, we have an obligation to "protect the public", as well as an obligation to look out for our clients' best interests- whatever they may be and even if they conflict with our best interests.

I've gone to many listing appointments with owners asking me whether they should really rent out their home- or just sell them and get away.  I typically tell them that they shouldn't sell them in this down market unless they have to sell them.  That's not me being a genius of any sort- it just makes sense to hold onto your home if you can versus selling it for $.45 on the dollar.

I've also spoken with tenant prospects and current tenants looking to test the homeowner waters.  I advise them in the other direction- if you can buy, buy.  The signs and ads are correct- there are great deals out there.  But great deals and a whole lot of "want to" (as we say in the South) doesn't always get you what you want.

For those that have decided that it's not the time to buy and that they need to rent a while (whether they're building a place or new to the area, etc.), I hope they choose to rent their place from me!

Sep 08, 2011 12:15 PM #4
Rainmaker
891,920
Sussie Sutton
David Tracy Real Estate - Houston, TX
David Tracy Real Estate for Buyers & Sellers

I do both too but I lean more to the buying market. I feel like if they want to rent okay then I make it so.

Sep 10, 2011 07:00 AM #5
Rainmaker
422,451
Dennis Burgess
AmeriTeam Property Management - Mid Florida, FL
Orlando Property Manager and Realtor

Hi, Sussie:  Thank you for stopping by.  I've done both at places as well.  Where I'm at now, though, we are a "non-competing" brokerage- meaning that when other Realtors refer us business, we don't compete for it on the back-end of their lease terms or management terms.

Sep 10, 2011 04:10 PM #6
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Rainmaker
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Dennis Burgess

Orlando Property Manager and Realtor
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