- First, do not pick a rental amount beyond 3 times your monthly income. Ideally, you do not want a rental amount more than 25% your monthly income, if possible. Consider that life happens and that you want to be prepared when it does. And it always does. Always. In fact, it is said that most people, on average, will have a financial crisis every 10 years. Are you ready for when that happens?
- Second, you should save up a minimum of $1000 as a reserve in your bank account (A.K.A "Emergency Fund"), so if you have an unexpected financial challenge, you can withdraw the money to pay for it without causing financial hardship to you or your family. Plus, and very important to note: When you buy, "Rent to Own" you cannot miss any payments. Doing so could cause you to forfeit any monies that you've currently paid into your future home, because of default on just one of your payments. Remember, you've been given a second chance, financially speaking, and with our program, we do not even check your credit scores. So don't make us, or the home owners we're working with regret having taken on such a big risk. How would you feel?
- Third, start working on your credit from day one. We offer a free manual we've created years ago that has helped hundreds of people nationwide rebuild their credit within just 45 days. For everyone that buys our houses, we give them this manual for free and even offer free advice on how to continue to build your credit. Why so generous? Simple. When you buy one of our homes in the end, the home owners we work with are happy, you're happy, and we're happy. Every one wins. So it's to our best interest (and yours) that you restore you good name quickly and buy the house, during, or by the end of the lease term.
If you have any questions about these tips or others, simply fill out the form below and we'll answer you within 24 business hours.
Sincerely,
Russell & Diana de la Peña
GreatRentBuy.com