TEAM TEAM MORRISSEYMORRISSEYRENT – TO – OWNRENT – TO – OWN

EQUITY BUILDEREQUITY BUILDER

PROGRAMPROGRAM

Why Own Instead of Rent?Why Own Instead of Rent?

• Build Equity !!!Build Equity !!!

• Tax Savings !!!Tax Savings !!!

• Build Your Credit !!!Build Your Credit !!!

Who is suitable for a Who is suitable for a Rent-to-Own Program?Rent-to-Own Program?

• Those with Poor Credit.Those with Poor Credit.

• Those without Downpayment Funds.Those without Downpayment Funds.

TEAM MORRISSEYTEAM MORRISSEYEQUITY BUILDER PROGRAMEQUITY BUILDER PROGRAM

TO THE RESCUE!!!TO THE RESCUE!!!

• Equity Builder Program helps you by building Equity Builder Program helps you by building upon:upon:– Your Credit ScoreYour Credit Score– Downpayment/Closing Cost FundsDownpayment/Closing Cost Funds

GET YOU INTO YOUR NEW PURCHASED GET YOU INTO YOUR NEW PURCHASED HOME WHEN YOU ARE READY !!!HOME WHEN YOU ARE READY !!!

HOW DOES THE HOW DOES THE EQUITY BUILDER PROGRAM EQUITY BUILDER PROGRAM

WORK?WORK?

#1. Players:#1. Players:

A.A. Tenant-Buyer (T/B)Tenant-Buyer (T/B)

B.B. LandlordLandlord

C.C. LenderLender

D.D. Team MorrisseyTeam Morrissey

HOW DOES THE HOW DOES THE EQUITY BUILDER PROGRAM EQUITY BUILDER PROGRAM

WORK?WORK?A.A. Tenant-BuyerTenant-Buyer

1.1. Gets pre-qualified for a Mortgage thru a Gets pre-qualified for a Mortgage thru a Team Morrissey approved FHA Lender.Team Morrissey approved FHA Lender.

2.2. If not ready to buy…Completes the If not ready to buy…Completes the Team Morrissey Application Process.Team Morrissey Application Process.

3.3. Finds a New Rental Home!Finds a New Rental Home!> DOESN’T NEED TO BE A RENT-TO-OWN !!!> DOESN’T NEED TO BE A RENT-TO-OWN !!!

4.4. Pays Rent and Builds Equity!Pays Rent and Builds Equity!

HOW DOES THE HOW DOES THE EQUITY BUILDER PROGRAM EQUITY BUILDER PROGRAM

WORK?WORK?B.B. LandlordLandlord

1.1. Agrees to the Tenant-Buyer Agrees to the Tenant-Buyer Application.Application.

2.2. Accepts Security Deposit and First Accepts Security Deposit and First Month Rent.Month Rent.

3.3. Manages Property for Term of Lease.Manages Property for Term of Lease.

HOW DOES THE HOW DOES THE EQUITY BUILDER PROGRAM EQUITY BUILDER PROGRAM

WORK?WORK?C.C. LenderLender

1. Pre-qualifies Tenant-Buyer for 1. Pre-qualifies Tenant-Buyer for FHA FHA Mortgage. Mortgage.

2. When Tenant-Buyer is READY TO2. When Tenant-Buyer is READY TO BUY…Handles Loan BUY…Handles Loan

Process !Process !

HOW DOES THE HOW DOES THE EQUITY BUILDER PROGRAM EQUITY BUILDER PROGRAM

WORK?WORK?D.D. Team MorrisseyTeam Morrissey

1. Introduces T/B to FHA Lender.1. Introduces T/B to FHA Lender.

2. Handles Credit Check & Processing.2. Handles Credit Check & Processing.

3. Sets T/B up with PRBC Credit 3. Sets T/B up with PRBC Credit Bureau!Bureau!

4. Sends Monthly Statement to T/B on 4. Sends Monthly Statement to T/B on Rental Equity Buildup! Rental Equity Buildup!

5. Closes Purchases of New Home!5. Closes Purchases of New Home!

Tenant/Buyer

Team Morrissey Lender

Credit Check and Processing

Move-In

Purchase

Finds Rental Home

Landlord

HOW DO I BUILD EQUITY ???HOW DO I BUILD EQUITY ???

For EVERY MONTH you pay rent on For EVERY MONTH you pay rent on time, you receive up to 10% Equity time, you receive up to 10% Equity Builder Credit towards the purchase Builder Credit towards the purchase

of a new home!!!of a new home!!!

WHAT’S THE CATCH ???WHAT’S THE CATCH ???

• Upon Move-In:Upon Move-In:

– Pay Security Deposit to LandlordPay Security Deposit to Landlord– Pay 2x the Rent Amount as an Option Pay 2x the Rent Amount as an Option

Fee to Team Morrissey.Fee to Team Morrissey.

HOW MUCH EQUITY CAN I HOW MUCH EQUITY CAN I BUILD?BUILD?

Earn as MUCH as the Earn as MUCH as the Buyer’s Commission onBuyer’s Commission on

YOURYOUR NEW HOME!!!NEW HOME!!!

EXAMPLE:EXAMPLE:Tenant/Buyer Moves-In:Tenant/Buyer Moves-In:

• T/B Pays $200.00 for Application Processing with T/B Pays $200.00 for Application Processing with Team Morrissey and a 2 Year Buyer’s Agency Team Morrissey and a 2 Year Buyer’s Agency Agreement.Agreement.

• T/B Pre-qualifies with Lender.T/B Pre-qualifies with Lender.

• T/B Finds a Rental at: $1000.00/month.T/B Finds a Rental at: $1000.00/month.

• T/B Pays Security Deposit of $1000.00.T/B Pays Security Deposit of $1000.00.

• T/B Pays Option Fee of $2000.00T/B Pays Option Fee of $2000.00

EXAMPLE:EXAMPLE:

• Tenant/Buyer Earns While Renting:Tenant/Buyer Earns While Renting:

10% Equity Credit for every on-time rent payment!10% Equity Credit for every on-time rent payment!

$1000/month x 10% = $100/month credit$1000/month x 10% = $100/month credit

$100/credit x 24 months = $100/credit x 24 months =

$2400.00 Equity Credits $2400.00 Equity Credits

EXAMPLE:EXAMPLE:

Tenant/Buyer PreApproved for:Tenant/Buyer PreApproved for:

$160,000 Purchase of a New Home$160,000 Purchase of a New Home2.0% Buyer Commission Earned2.0% Buyer Commission Earned

$160,000 x 2.0% = $3200.00$160,000 x 2.0% = $3200.00

$2400 > $3200$2400 > $3200FULL CREDIT EARNED !!!FULL CREDIT EARNED !!!

EXAMPLE:EXAMPLE:

Tenant/Buyer at Closing Receives:Tenant/Buyer at Closing Receives:

Security Deposit:Security Deposit: $1000$1000

Option Fee:Option Fee: $2000$2000

Equity Credits:Equity Credits: $2400$2400

TOTALTOTAL $5400 $5400

ALL FOR PURCHASE!!!ALL FOR PURCHASE!!!

SUMMARY:SUMMARY:

• You don’t need to find a Landlord to You don’t need to find a Landlord to setup a Rent-to-Own Program!!!setup a Rent-to-Own Program!!!

• Build YOUR CREDIT SCORE thru PRBC !Build YOUR CREDIT SCORE thru PRBC !

• Cut CONFUSION OF HOMEOWNERSHIP!Cut CONFUSION OF HOMEOWNERSHIP!

•MAKE YOUR RENT DOLLARS MAKE YOUR RENT DOLLARS WORK FOR YOU!!!!WORK FOR YOU!!!!

QUESTIONS ???QUESTIONS ???

Call Team Morrissey at:Call Team Morrissey at:

(630) 513-3827(630) 513-3827

Check out Website:Check out Website:

www.getteammorrissey.comwww.getteammorrissey.com

E-mail:E-mail:

seanmorrissey@kw.comseanmorrissey@kw.com