(PRWEB) April 07, 2013
Advanced Realty Team, Inc. yesterday announced it has begun the marketing phase of its new program which offers the financing features of the Famous Rent to Own on Steroids to the Senior Market in Deed Restricted Communities.
Advanced has bought houses fast from folks in Tampa Bay for two decades, but did not enter the Senior Circuit until recently and are now marketing the first home purchased following only minor fix up and offering it “as is,” with their trademarked financing.
Located in Brooksville, FL (Tampa Bay area), the home is a three-bedroom, two-bath double wide with addition and golf cart garage, that backs up to the golf course in a 55 Plus, gated Community, priced under $45,000 and offers Famous Rent to Own on Steroids, simple sale or owner financing.
"We have always looked at the numbers and the 55 Plus Market looked like too small a universe for us to operate in," said George Beardsley, Broker-President of Advanced.
“But, this is Florida and lately we have had a number of homes offered to us in this sector by folks who want to sell their house fast and we decided to take a closer look," Beardsley said, “and now, we are about to see how it works," he said.
Advanced started buying houses fast and “as is” and renovated for resale two decades ago. When the real estate market collapsed they were scrambling along with everyone else and came up with the idea of continuing to buy houses from people who really needed to sell a house fast and get on with their lives and then renting the homes as affordable housing.
Famous Rent to Own on Steroids(tm) offers all money paid in the first year becomes down payment and a buyer earns a mortgage by making 12 consecutive monthly payments on time and maintaining the house as though it were already theirs.
Beardsley holds the US Patent and Trade Mark office’s Trade Mark for the "Famous Rent to Own on Steroids Program," which has been used to provide affordable housing, the company aid.
"It had been our thought people over 55 would need no help in getting a mortgage to buy a home once they landed in the Sunshine State," Beardsley said “So why would they want a rent to own program that lets you buy a home even if you have no credit and no down payment?"
"Then all of a sudden banks act like making a loan to anyone is immoral, fattening, or against the laws of God, so we decided to take another look," Beardsley said.
Famous Rent to Own on Steroids allows a buyer with little or no credit and no down payment to own a home in as little as a year.
All money paid in the entire first year becomes down payment and the prospective buyer can "earn" a mortgage by making 12 consecutive monthly rental payments on time and maintaining the home as though they owned it already, the company said.
Advanced also will buy houses in foreclosure, work to get the bank to made a mortgage modification and in the meantime offer the home for rental at a bargain price to compensate for the possibility of having to move quickly and the certainty of being visited by the workers of the bank delivering papers.
Advanced was created by two former stock brokers who tried to sell a house in Boca Raton in the late nineties that was in the neighborhood where government officials planned to build a garbage burning incinerator.
They were unable to sell their house in Boca when they planned to move back to Pinellas County and finally sold with owner finance. The owner finance worked for them so well they decided to leave stocks and bonds for real estate.
“If we can't sell houses in the senior sector, we can always move in,” Beardsley said. “The requirement here is one person has to be over 55 and I qualify.” “Others in the household only have to be over 18 and Maryan does qualify for that,” he said.