Gary  Meek, (916) 995-9385 (NewVision Realty Group)

Spam prevention
Rainer
8,050
Bruce Swindell, P.A.
Florida Homes Realty & Mortgage - Jacksonville, FL

We had a rep from Home Partners of America in our office yesterday to brief us on the program.  As Cindy said seems like it is designed for those who may have a problem qualifying for a mortgage and is only available in qualified neighborhoods.  Am looking forward to trying it out if the opportunity presents itself.  

Jan 28, 2015 10:37 AM
Rainmaker
629,751
Ajay Pandya
e-Merge Real Estate - Columbus, OH
Realtor Ajay Pandya

Yes.

Jan 25, 2018 10:04 PM
Rainer
2,720
Rick Baker
Frisco, TX
#1 Coldwell Banker Realtor in America for Home Par

I am a Realtor with Coldwell Banker Residential Brokerage in the Dallas/Fort Worth area.   I personally have done 20 contracts with Home Partners of America and can tell everyone here that they are the real deal.

Nothing but integrity and straight-forward in their business dealings.   For Clients that can not be approved by Coldwell Banker Home Loans I take them STRAIGHT to Home Partners of America.   Nothing but positive results.   www.MetroDallasRealtor.com

Feb 23, 2015 01:19 PM
Ambassador
4,307,769
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Gary Meek this seems to be a great opportunity for sure (and learned something from some answers, too.) Great question.

Jan 28, 2015 11:50 AM
Ambassador
3,985,488
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Absolutely. I know several investors doing this in my area. It takes an immediate burden off the seller but I have witnessed many of those tenants not paying and abandoning the property. If the investor isn't finanacially sound, he will be in hot water and the seller suffers. I worked for an REO company that had several houses go to foreclosure against the seller because of this.

Jan 27, 2015 02:30 AM
Ambassador
4,847,141
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

I have had a few offers that sounded something like this, I saw no advantage in dealing with them.

Sep 22, 2019 10:55 PM
Rainer
279,598
Dipti Thakkar
LAER Realty Partners - Andover, MA
On a team with Praful Thakkar

No.

Jun 06, 2018 10:41 PM
Rainmaker
3,067,302
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

I have not

May 25, 2017 06:30 AM
Rainer
17,656
Chris Fosgate
Keller Williams - Kansas City, MO
Assistant Team Leader - Keller Williams, KC North

Just wondering if there are any updates on this thread. Have any of these renters moved forward with a purchase? I've done two deals with Home Partners this year and both went smoothly and were right for those clients at the time.

Dec 19, 2016 07:00 PM
Rainer
217,485
Andi Grant
310-508-4354 | FirstTimeHomeBuyerRealEstate.com - Los Angeles, CA
Helping 1st time buyers and home sellers in LA!

I knew I could come here and get some answers.

Debbie Reynolds, that was my concern.  The guy said their margins are like 5% which is not a lot and so my concern is they could not make it in a few years and I have placed clients under their "lease to purchase" plan.

 

Is there anyone who have had clients SUCCESSFULLY buy after lease terms were up???

 

ANY MORE UPDATES REGARDING CONS?

Jan 19, 2016 11:29 AM
Rainer
375,338
Gary Meek
NewVision Realty Group - Roseville, CA
(916) 995-9385

I did some more research and found that www.homepartners.com is a legitmate company that offers the lease option platform.  We have done about a dozen in our office so far this year and have several in the pipeline for closing before the end of the year.  We are very happy with the results.

Oct 05, 2015 12:28 PM
Rainmaker
160,414
MeLisa Minter, Realtor
Minter Real Estate Services - Taylor Lake Village, TX
Bay Area Houston Real Estate Agent

Gary Meek did this ever work out for you? If so, do you mind sharing the details?

Oct 04, 2015 01:52 AM
Rainer
1,260
Giuseppe Piccinini
JP and Associates REALTORS - Frisco, TX
I am a real estate broker in Dallas, Texas and my agents and I have had considerable experience with both Home Partners and HomeLPC .    Each of the two programs are really targeting a different demographic.    While the absence of an option payment in the Home Partners (originally Hyperion) may be attractive to many potential rent to own clients, the costs and the 5% per year increase in the option price only makes sense if you expect double digital home appreciation annually.    Thus, it seems that Home Partners works for the group that his little or no savings who is willing to let the future market determine the viability of the option, if any.
 
The HomeLPC model is clearly the better option for the family that has some savings and is committed to purchasing the home that it chooses to be purchased by HomeLPC.   The 1st year rents are comparable but HomeLPC keeps the rent fixed for the 3 years while the Home Parter rent increases annually.   As you correctly stated, the HomeLPC program does require a 5% option payment which is applied to the purchase price at the time the option is exercised and provides for 50/50 split of appreciation.   That is really quite appealing to the family that is committed to  becoming homeowners.    HomeLPC will also accept into the program condominiums and new construction.   
 
I have also learned that HomeLPC has just started doing business in the states of Florida and Washington and is soon targeting further expansion.    My contacts there are Nick Bratsafolis (nbratsafolis@homelpc.com) and Pam Mills (pam@homelpc.com).    
 
-JP
Sep 29, 2015 05:55 AM
Rainmaker
1,067,601
June Piper-Brandon
Houwzer Inc - Baltimore, MD
Piecing Dreams One Home at a Time

They did a presentation in our office too and a couple of our agents have deals going with them, I'm working on a couple potential too.  I hope it works out.  It seems like a great way to improve the number of deals you do. 

Jun 02, 2015 10:09 AM
Rainer
19,828
Cindy Dudley
Brockway Realty, LLC - League City, TX

There is a company called Home Partners of America (www.homepartners.com) that I heard about at a RE/MAX Top 500 convention last year.  They use specific criteria to qualify neighborhoods and homes.  You as the buyer's agent bring the client and the home to their attention.  If all the details work out, the company buys the home - you get paid as the company's buyer's agent, they become landlord and your client leases the home from them.  There is a preset rent and a preset cost of purchase at the end of the lease term, if they choose to purchase.  If the renters want to continue leasing they can.  At the end of year 2, they again can purchase for a preset price (higher than at end of year 1)...and so on.  The program is supposed to be geared toward buyers who are 1st timers, have difficulty obtaining a mortgage, those concerned about market, or those relocating.  It can also open up the opportunity for someone to rent a house that is only listed for sale.  I have not used the program; so I have no personal review.

Jan 27, 2015 09:20 PM
Ambassador
1,120,219
Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239
Real Estate One - Commerce, MI
Michigan homes for sale ~ yesmyrealtor@gmail.com

Never heard of it.  I am sure Detroit home owners would love a program like that

Jan 27, 2015 07:46 PM
Rainmaker
4,798,978
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

It's not done very much in my area.  Florida lease agreements discourage this practice.

Jan 27, 2015 06:00 AM
Rainmaker
631,712
Vern Eaton
Askov, MN
Realtor 651-674-7449

It is a great way to tie up a property if you can ge the owner to agree to it.

Jan 27, 2015 01:13 AM