Posted by Russ Sims on May 13, 1999 at 12:14:59:
This was the text of my ad. Rent to own: 2100 sq. ft. home needs moderate fix up. Mostly roof and floors.Large fenced yard, harwood floors. U fix and save! 95K. 555*5555
The ad ran on Sunday and I was getting calls a week later. I think there is a very good market for affordable homes that people are willing to put sweat equity into. The danger here is in getting a T/B who can’t do the repairs. Can they do the repair without making a mess of it? My T/B works in construction, so he had good references. Still, it’s no guarantee. So with the roof we agreed that he’s to roof only the porch first. The seller and I will inspect this and determine if the work is of good quality. If not, the T/B looses his option! If so, the T/B can proceed with the rest of the project. This is a very cooperative arrangement with the seller. The seller had right of refusal over my choice of T/Bs. Sometimes that’s what it takes to make them feel secure. It worked!