How Do Our Buyers Differ From Renters During a Moratorium?

Our buyers that go through our rent-to-own program dramatically differ from traditional renters. We were on a Wicked Smart Sit Down, which is just a big informal open Q&A that we host that's absolutely free on Zoom. And one of the investors that showed up said, hey, how do your buyers differ from renters during a moratorium? So there's 2 pieces that go into this. Number one, let me walk you through our buyer process because that's going to show you why we are consistently, even though we're in this pandemic and going through this moratorium, consistently helping buyers cash out and become homeowners. So when our buyers come to the table, they're going to put up a large non-refundable deposit, somewhere between 3% and 10% down, and sometimes up to 20% over time. What does that do? That puts these buyers' feet to the fire because they have a significant deposit to lose if they don't exercise their option. But the other piece is what it does is it puts them in the best buying position. So when they go to qualify for a loan, they could show the bank, look, I put down this large non-refundable deposit. Now I only have to qualify for this amount. And as they're making their payments throughout the rent-to-own program, they're increasing their credit. Because at the beginning, we're looking at debt-to-income, we're looking at FICO scores, and we're setting the buyers up for a success plan. That way they can go ahead and qualify for their loan. That— it's a mortgage readiness plan or mortgage readiness date, and on or before that date, they have to cash us out. Now, these buyers are qualifying for not only just any program or any mortgage program, but they're— they are qualifying for the best programs. So when it comes to this moratorium, We have buyers in the properties with buyer mentalities. They don't have the renter mentality. They are taking care of the property as if they own it. They are living in the property. They are increasing equity in the property if they're improving things as well. So when a moratorium like this hits, they don't just stop communication. They don't just stop making rental payments. They have open dialogue with us so that way we can continue to put them on or continue to keep them on their mortgage readiness plan. This is why most of our buyers did not even think twice about utilizing the moratorium. Also, in— at the beginning when we were going through our vetting process, we've had open dialogue with them asking them, hey, if something were to happen with this job, how are you going to continue to make your payments on rent? How are you going to continue to maintain the property? Because you're living in the property, you are acting as if you already own this house. You're just working towards your mortgage. That way you can hold title when this cashes out. So this entire buyer mentality is what differs, uh, our buyers from these traditional renters and is the reason why we are continuously, month in and month out, helping people get a pathway to homeownership. Now, if you have not dove into our QLS home study program inside our Wicked Smart Academy, I encourage you to do so because everything we talked about in detail, step by step, with all of the documents is inside that QLS Home Study Course program. So if you just go to wickedsmartacademy.com, then you'll go ahead and start diving in. That way you can put yourself in the best position possible to withstand any type of fluctuation in the market by utilizing this creative financing, these terms method. I promise you, if you go ahead and dive in, you are going to put yourself in the best position possible. The terms in this creative financing niche was set up to withstand any type of market, an up, a down market, a pandemic, because of the way these deals are structured and because of the people that we're bringing to the table, including these qualified rent-to-own buyers that are going to treat the property as if they lived— as if they owned it. That way, if anything were to happen, they're put in the best position to be able to go ahead and qualify for loans. This niche is set up for times just like now. So go ahead and go to wickedsmartacademy.com.