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Economy
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or two, Colvin pairs them with lenders who help them repair their credit.
Meanwhile, part of the rent is held in escrow to be applied toward closing costs, should the rent-to-own option be exercised, Colvin said.
Win/win, Colvin insists. Buyers get their credit restored and they get a home. Investors make money, too, though perhaps not in fistfuls.
“People have money, and they want to invest it,” Colvin said. “It is really a safe way to invest. They can buy a house, and we can put somebody in it who wants to buy it in two years. If that falls through, then we have a property we can rent for them or they can rent themselves. We will be happy to help them rent it.”
Colvin said she was unable to estimate what an investor should expect in terms of return.
91.1%