Are rent to own opportunities a scam or the real deal? How do they work?

Are rent to own opportunities a scam or the real deal? How do they work?

Answer:

Few things to know before doing rent to own:
        1. Currently can't qualify for a loan as payments will probably be bigger.
        2. Find Rent-to-own deals willing to give credit towards purchase.
        3. Find landlords who provide longer term deals (5 years).
        4. Find landlords who provide low option consideration (down payment) at 3-5%.
There will be larger payments than purchase price but the equity buildup is usually larger than the land principle buy down for the first couple of years if the landlord is giving a rent credit towards purchase.

*This was voted the best answer from our community of users, not an answer, opinion or advice from HotPads.