015: An Inside Look at Rent-to-Own Options with Allan Seto

Kyle Miller talks with Allan Seto about the rent-to-own industry.

Introduction

Allan Seto is the owner of Ottawa Rent 2 Own. Their mission is to help people who are serious about home ownership but might have issues with credit achieve their dream of owning their own home. Kyle and Allan talk about the rent-to-own industry, how the process works for them, and the realities of the rent-to-own industry.


Key Points

  • [1:50] How did you get involved with rent-to-own?
  • [3:30] What is the mission of Ottawa Rent-2-own?
  • [5:21] What is a rent-to-own?
  • [6:49] The ‘rent’ portion is usually market rent value plus a percentage that goes toward the down payment.
  • [9:08] How do you keep within lending rules?
  • [10:44] “We want to work with clients who are very serious about home ownership.”
  • [12:09] Rent-to-own isn’t for everyone. It’s not for people who can’t afford homeownership.
  • [17:25] How do you make money in this process?
  • [22:30] What should you be looking for in a rent-to-own company?

 


Contact Al Seto