Newport Trojan_IHB
New member
So I am looking for private rental properties and started searching craigslist for some places. After checking some of the places, I ran across a few adds for high end places at very low monthly rates. My gut instinct says scam, so I first checked the IHB for any know scams like this and found nothing in the lists. So I was wondering if anyone on this board has had any experience with this or can validate that it is a legitimate opportunity.
All the ads end the same, "Owner must forfeit home to Lender" and then a 612 area code phone number.
So a friend called and got the following info: The deal is this company has a website, that for $99, gives you access to a bunch of properties (48 in NB and CDM where I am looking) for you to review. Once you have reviewed them you set up an appointment with the owner to go to their place, which they have vacated. The guy gave 2 options: a long-term lease 12-24 months or a lease to own option. I guess I am wondering is the monthly rate in the ad the same as what the owner would charge, or is it a bait and switch, where the company with the site gets the $99 for the website access and then they don't care and I need to negotiate with the owner. I just don't see why the owner would rent for less than market rate if they don't have to or is this a bank's way of keeping the house occupied while the market is in decline and still making some coin in the interim, until/if it turns around and they can sell the house.
Sorry I don't have better details, but I figured with the wealth of knowledge on this board, I would throw it out there.
All the ads end the same, "Owner must forfeit home to Lender" and then a 612 area code phone number.
So a friend called and got the following info: The deal is this company has a website, that for $99, gives you access to a bunch of properties (48 in NB and CDM where I am looking) for you to review. Once you have reviewed them you set up an appointment with the owner to go to their place, which they have vacated. The guy gave 2 options: a long-term lease 12-24 months or a lease to own option. I guess I am wondering is the monthly rate in the ad the same as what the owner would charge, or is it a bait and switch, where the company with the site gets the $99 for the website access and then they don't care and I need to negotiate with the owner. I just don't see why the owner would rent for less than market rate if they don't have to or is this a bank's way of keeping the house occupied while the market is in decline and still making some coin in the interim, until/if it turns around and they can sell the house.
Sorry I don't have better details, but I figured with the wealth of knowledge on this board, I would throw it out there.
