Chris Prefontaine explains how landlords can option properties for 90-120 days, find a vetted buyer who needs time to build credit, then assign them to the landlord. The buyer handles repairs and maintenance while the landlord gets monthly cash flow and a down payment, with typical payoff in 18-24 months and a 2-5% default rate.
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You have a buyer in your home, not a tenant. That buyer takes care of the property like it's theirs. They fix it like it's theirs. They pay all the bills like it's theirs. They capture appreciation or a market drop like it's theirs. The only thing is they don't have a mortgage yet. What if you're a landlord and you're used to renting and either you're okay with running a tenant in your property, But you're kind of sick of the tenant headaches. We have a very cool system for you called an assign-out, whereby we option your property for a short period of time that you and I agree on. Could be 90 or 120 days is typically all we need. We go out and we find our deserved buyer who needs time. They need time to fix credit, as I said in my original creative financing video, or they need time for what the bank calls seasoning to provide 2 years of tax returns. Either one of those, we vet and make sure they're a very good buyer. We then assign that buyer to you and we step away. It's the least profitable deal for us as investors. We've done hundreds of them because people like you that don't need us in the middle, frankly, or are used to renting but want to get rid of the landlord headaches, love the system. Couple reasons. One, you have a buyer in your home, not a tenant. That buyer takes care of the property like it's theirs. They fix it like it's theirs. They pay all the bills like it's theirs. They capture appreciation or a market drop like it's theirs. The only thing is they don't have a mortgage yet. We're going to put them through the vetting process before we turn them over to you. You're going to have the final say. We're just going to advise you based on our experience what we would do. And then that buyer will cash you out typically the shortest term out of all our deals because we stepped away. It's going to be somewhere between 18 and 24 months tops. Now, there's about a 2 to 5%, which is tiny, default rate. If that was to happen, you would already have received a small down payment, non-refundable. You would've had principal pay down if you have an underlying loan. You would've had cash flow every month. And then you call us to either, well, you'd call us if you wanna reinstall another tenant buyer, or you'd go on the conventional market and just sell it outright. Either one of those are good scenarios. The best scenario is we set the buyer up to win and they cash you out. So an assign out is great If you don't need us in the middle. It's great if you want all the money monthly and/or all the money on price and there just isn't any room for us. So there are some scenarios where that works as a backup to all of the other methods. Love to have a private conversation with you and see if that works for you. I can tell you, if you have rental properties now, the best thing for you to do is to slowly turn them over to a tenant-buyer occupied property. We will create some serious cash flow, longer-term wealth for you, and a little bit of now money as well. Look forward to having a private call with you. Again, you can email me, chris@originalre.com. That's chris@originalre.com.
