| Rent to own Good day
It is that time of the year for most companies. The dreaded financial year-end. With everyone running around like crazy to satisfy the bookkeeper and in the end the auditor, it feels like this month is almost like a very long blue Monday. Or perhaps just for me? If you are someone like me, hopefully everything will fall into place and we can enjoy a calmer March. On the other hand, can you believe we are entering the last days of the second month of the year? Only 10 more months and it is the December holidays!
I read an interesting article of a product that is currently only available to Ongos Valley on Rent to own. In my training with my mentor, Dirk Zeller, he has mentioned this concept to me a few times over the last year. In America (where he is located), he has told me many success stories of his own as he sells a lot of his properties on this concept. Basically he "finances" the purchaser, who in return, pays him back - with interest- the full purchase amount over a set period. In other words, rather than the bank loading the purchaser with interest, you as seller decides the interest rate and benefits from it.
My biggest question to him at first was, what if the purchaser defaults? His answer, the contract is air-tight and in this case, he/she is evicted and loses his/her payments made over the period, so you sell again...... Interesting, don't you think.
Why I thought of this, seeing as I only do commercial is, I have a lot of prominent business men and women who has a few properties and enough resources to sustain him/her/the family. One of my clients actually commented that he could sell his property, but what would he do with the money? "You can only go to Vegas so many times before it is boring" He therefore prefers to rent out his property, especially since the interest rates are so low.
But, what if you can apply this same theory to selling your commercial property? You will be getting a much better monthly income over a set period of time. If people are doing this in America, why not here in Namibia? What do you think? Is this something you would consider?
As times are changing, shouldn't we change our thinking?
|
