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Rent-to-Own or Lease?

When you’re in the position to move, you may be weighing several options for next home. Many people wonder about the difference between rent-to-own and lease-to-own agreements. There are many variables to consider along with several facts that support each choice.

A lease accompanied by an option that gives the tenant-buyer the right to buy is a lease-option. This option does not mean there is an obligation to buy, which translates to the tenant-buyer is able to walk away at the end of the lease terms.

A rent-to-own agreement starts as a tenancy. It will include the monthly rent amount and the length of the lease. The agreement also includes a lease-option that could allow the tenant to buy the property within an agreed upon time period at a specific price. Generally, the tenant pays the landlord a nonrefundable amount of money up front for the option to own. If they decide to make the purchase, the option money usually is part of the down payment.

For rent-to-own, your money is technically being put toward a portion of owning a home and not just being amortized to monthly rental payments. The home you’ll be living in will also be given a trial of whether it’s a suitable fit. And, at the end of the terms, you are able to walk away from purchasing if you desire.

By contrast, in a lease-option, the lease agreement contains a provision giving the renter the option to purchase the place at some point. Both typically require the renter/buyer to pay additional monthly rent premiums to “buy down” the price of the home in addition to paying an upfront sum.

Which agreement you decide on is entirely dependent on you needs. To make the situation more palatable, it’s recommended you contact a real estate agent to help guide you through these pressing matters. The Brown Group has reliable and knowledgeable agents to ensure your next housing solutions is met with clearly defined terms.

The Growth of Single-Family Rentals

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End of the Year

As the end of another year approaches, a conventional practice is setting aside time to reflect on how the past 12 months treated you, which could stem from interpersonal relationships to your financial decisions. As far as realty market trends, 2016 has seen the single-family rental market boom. Current trends show a rise in rental demand for single-family properties and rents increasing up to 6%.

Single-family rental investments are consistently rising, making right now the best time to invest in this burgeoning market. Multi-million securitization deals occur on a monthly basis, and 1 in 9 homes are becoming family rental properties.

Trending Toward Millennials

A trend that has been prevalent since the recession has been the lack of home buying, with the demographic skewing largely toward millennials. According to Moody’s Analytics, 18 to 34 year olds are more likely to rent than own a home. Factors for this shift in practice include the increased chance to accumulate debt, establishing a steady employment history and changing social patterns such as moving to densely populated urban centers.

Geographic Trends

In terms of geographic areas, it is noted that single-family renting is especially prevalent in the western and southern U.S. This is due to the foreclosure crisis, which especially affected the western portion of the country, along with a larger housing stock consisting of newer homes. In contrast, the upper Midwest, where the foreclosure bust was not as rampant, is not seeing a higher trend of renting.

Conclusion

Although the dust from the most recent housing bubble remains with the foreclosure crisis still playing out, as well as homeownership remaining relatively under pressure, this means a consistently good market for rentals. Across the country, rents are low relative to home prices that spans the national market. Entering the new year, you can expect a steady market for single-family rental properties.

South Shore and West Pointe – Before and After

“Progress lies not in enhancing what is, but in advancing toward what will be.”

South Shore Apartments before and after.

South Shore Apartments before and after.

Renowned American poet Khalil Gibran made this famous statement which infers that an outcome of what is being worked on should be used to innovate advancement, not simply make enhancements of what is already there. We believe our mission at The Brown Group parallels that Gibran quote. When we acquire a property, we are meticulously invested in the development of it in order to give future tenants the best possible living experience. Two of our properties, South Shore Apartments and West Pointe Apartments, have units that have been remodeled to a more aesthetically pleasing and modern look.


When South Shore was acquired, the complex was distraught with worn down interiors, appliances, and damaged property. Thanks to our dedicated and talented team of property managers and maintenance crew, we were able to redo each unit with new floors, interior paint, new appliances, ceiling fans and plumbing fixtures. We have also added a laundry room and centralized leasing office to better accommodate future tenants.

West Pointe Apartments before and after.

West Pointe Apartments before and after.

West Pointe Apartments was acquired and TBG took over for the semi-remodeled units. All units were fastened with new light fixtures, window replacements, and new plumbing fixtures. In addition, there is a fresh coat of paint on the exterior of the complex along with our signature red doors.

These properties are just two examples of how TBG is committed to advancing toward success. As we continue to grow, we will always maintain a high quality of taste and functionality when remodeling your future home.

Annual Turkey Raffle!

turkey raffleThe month of November is well underway. For many, this time of year also signifies the creeping anxiety of figuring out holiday plans. With busy schedules and momentous events popping up for everybody, it wouldn’t be a surprise to overlook the hectic preparation needed for Thanksgiving.

The Brown Group will be holding our annual turkey raffle contest. This is a great opportunity for your chance to win a whole turkey for your upcoming Thanksgiving.

To enter this contest, like and share any of our social media pages. You’re allowed one daily entry and you will automatically be considered for our drawing, which will take place on Nov. 18, 2016. There will be a total of a dozen turkeys being given away, so your chance to win is high!

Along with helping our customers with all of their real estate needs, we also take pride in community involvement. There will never be a moment that we don’t feel a sense of joy and excitement in giving back to others. Enter our raffle and make your Thanksgiving feast complete with a delicious turkey to share with your family.

The Importance of Voting

election2016bloggraphicThe storm is almost over. After what has seemed like an endless amount of political conversation, boisterous campaigning, debates and scandals, the election finally comes to an end tomorrow, Nov. 8.  America will have elected the 45th President of the United States by the end of the evening.

For those who are registered to vote in Oklahoma, polls will be open from 7 a.m. to 7 p.m. If you are unsure of where your polling location is, you can go to The Oklahoma State Election Board and input your voter registration information to find your nearest polling place.

Here are some reasons for participating in voting:

  • Your voice is important
  • It maintains our governmental status as a democracy
  • It is considered a privilege and a civic duty
  • On a local level, a single missed vote can make a difference. Areas such as your local school board rely on voter turnout to decide on critical public decisions that can affect you and your children.

Voting is a matter that is important to the health of the American political system and to the people who participate in it. At The Brown Group, we take pride in being involved in our community. Part of this involvement includes sharing important information that we feel could benefit our wonderful clientele. Because of this campaign being a maelstrom of polarization, a lot of voters have become driven by the need to get their ballot submitted. On the other side, some have been compelled to simply stay at home due to the complexity of this political cycle.

For those straddling the line of whether or not to vote tomorrow, keep in mind the aforementioned reasons. Every vote counts. Election Day is hours away and hopefully you will take into consideration the importance of maintaining our democratic process.

Entering the Fall Quarter

Crowd in house

The Brown Group is welcoming the fall quarter with exciting growth!

 

Welcoming Fall

The air is starting to smell crisp from fallen leaves, the temperatures are slowly dropping, and everyone is beginning to bundle up. As Oklahoma enters into the beautiful fall season, now would be a good time to talk about the great development happening at The Brown Group. We’ve come into this new quarter with exciting expansions. With the transition of summer into fall, the company has made quite a few accomplishments that only keeps up the momentum of our constantly growing office.

Gaining New Happy Customers

The Brown Group has continued to follow its mission of providing high quality services to our customers and community. Since August, our company has acquired 12 homes and three community buildings. We have also sold an apartment complex and three homes. Along with these acquisitions and sales, we’ve leased an astounding 39 total units to our happy customers. These units include homes and apartments. We have also seen the advancement of five new owners, which is an exciting development for both us and our clients. We can only imagine that the holiday season will be filled with joy for their new homes!

Newly Managed Properties

In addition to satisfying the needs of our various clients, The Brown Group has also maintained healthy property management with the inclusion of five homes, two apartment units, one apartment complex, and one commercial building. These properties will be managed with the highest quality of care and maintenance as we prepare for even more business developments. This most recent quarter has seen great advancement for our company, and we are committed to making sure everything going forward will receive the same degree of dedication as every other area of our expertise.

A Growing Office

There aren’t just tremendous developments occurring on the realty side. The company has also made significant changes internally. Just in the past few months, there have been four new employee hires. These positions include a construction manager, administrative assistant, maintenance technician, and marketing assistant. We are happy to have them and they will bring the knowledge and expertise necessary to continue our top notch services. Our new employees are ready to join the already fantastic family at The Brown Group. To coincide with the company growth, three new company vehicles are now being regularly utilized in order to keep our brand visible.

We are excited about the significant progress our company continues to make. With new acquisitions, new clients, and new hires, it looks as if we will keep growing and we are ready for the change.

We Have Moved

Out with the old and in with the new! We have moved to a new beautifully customized building. Moving is always a task in itself, but this move was fabulous and well worth it. And we must say, what a great way first week it was in our new office located at 6001 NW Expressway, Oklahoma City, OK 73132. It took a lot of hard work, passion and determination to get here, but without a shadow of a doubt, Mr. Brown made it happen. Although we are still putting the finishing touches throughout, it feels great to call this our new home. The Brown Group corporate office sits right beside the First Fidelity Bank at the corner of MacArthur and northwest Expressway. Enjoying another beautifully customized corporate office building, we still remain your one stop shop for all your real estate needs, just in a new location. Our building sure is hard to miss when driving down the Expressway. If you happen to see vibrant red and black roofing from near or afar, then you know you’ve found us! The move will be beneficial in our growth as we seek to expand our growth throughout OKC, also speaking of the area we are in. Located just south of Lake Hefner & north of the highly desirable Warr Acres and Bethany suburbs, we will begin to put our feet down and provide quality housing here as well. Just as we’ve done for the past decade, we also will continue to provide excellent customer service and affordable homes.

Soon enough we will have everything completed and stand out more than ever. In the meantime follow us on Facebook, Twitter, Instagram, Google+, Tumblr & LinkedIn to keep up on everything with The Brown Group. Thanks for the read and be sure to follow us as we will post new photos and updates of the progress along with other real estate information of course.

Front view of our new corporate office

Front view of our new corporate office building

A Home for All – Your One Stop Shop!

When it comes to searching for a home, you have so many options it can make your head spin! Same goes for hotel searching, cell phone plans, car shopping, etc. If you want to avoid the hassle of clicking around and taking weeks or months to find one, check out our main website here. We have plenty of beautiful homes available, many more upcoming and 3 different apartment complex’s currently available (check out our newly completed South Shore Apartments). So when it comes to options, we have you covered. Leasing, selling, leasing to own, CTFD. We can and will do it all to help you get into the home you want. We won’t force you into a home, just help you find the one you truly desire.

Even if its not a Brown Group home, you can do a search for any and all homes throughout the Oklahoma City metro to find exactly what you desire. We have a very simple and easy to use “search listings” tab underneath “Residential” to help you narrow your search and find the home your heart desires. And if you do find a home interested in purchasing that is not The Brown Group’s, we have a dedicated and professional team of Realtor’s on call to help you with every decision. This way if you find a home that is not ours, you can still do business with us and see how The Brown Group will go above and beyond to make you satisfied. thus why we have a growing staff of friendly agents here to service you, even though you may not be interested in one of our homes. We would love to help you in any way possible with any and all of your real estate needs. Questions or comments are welcome for our Realtors when it comes to searching for your next dream home, all you have to do is pick up the phone and call or shoot them an email and they will happily assist you. Same goes for a Brown Group home. Come on in, call our office or send us an inquiry about the home you are interested in we will walk you from A to Z, not skipping a single detail so you know anything and everything about the decision you are about to make.

While you are here, check out these beautiful appealing homes and our apartments that have been remodeled and waiting for their next owner and tenant.

1629 Reding - sale   Hasley   hillcrest

Remodeled Homes For All

As we move into the 2nd quarter of 2016, we look forward to the trend continuing upwards like last quarter. We have enjoyed a very busy past few months and this growth trend doesn’t appear to be slowing down. Just this past month, the owner and principal director, Mr. Brown sold 4 beautifully remodeled and updated homes in a span of 10 days. Leasing and selling have both ramped up for the company as we look to aggressively keep this trend going. We add multiple homes and now apartment complex’s to our inventory every month, allowing us to give you more options and better choices. Along with the apartments we already own and manage, we will soon be acquiring 2 more. In addition, we have over 10 homes available or coming soon

Every home and apartment complex that is acquired by our company receives updates we deem necessary for it to be in good living condition. These updates include new paint (exterior and interior), flooring, kitchen appliances, lighting fixtures and fans. In a lot of instances however, our homes need much more work. This may require adding a new roof, replacing windows and doors along with a complete bathroom and kitchen remodel. Although this process can be lengthy, it is well worth it the end. Our tenants absolutely love the work we put into each and every home. Leasing a 1,2,3 or 4 bedroom home that is practically brand new and for the same price as an apartment is a steal. Our homes are very affordable and move-in ready, making nearly every one a hot commodity. We frequently lease out our homes before the work is completed because residents know or heard about The Brown Group and simply can’t wait to live in one of our homes. Snip20160406_15Thus the reason why our company is growing rapidly at a tremendous pace. The demand continues to stay strong, so in order to meet the needs we must continue to grow and expand our reach to all corners of the Oklahoma City metro. We have and will continue to expand all across the metro in order to provide the best quality housing solutions for all. Everyone deserves to live comfortably and should not have to settle for less. Providing beautiful remodeled homes for all will continue as long as were around! We will not slow down nor settle at average.

The pride and dedication to be the best is on display in the quality updates to the homes leased throughout the Oklahoma City metro. People that lease a home from The Brown Group have come to expect a beautifully remodeled home that is very affordable and an enjoyable place call home. Beautiful new kitchens, bathrooms and many other additional features are put in each unit so every tenant can enjoy the same as last or next to come. As we continue remodeling Oklahoma City one home at a time, we want you to give us a chance and see why our properties are worth every penny. We aim to make your lease with us as pleasing as possible, thus why we do more than the average landlord. So keep an eye out as we continue to offer affordable housing solutions and many more homes upcoming.

Investing in real estate!

When it comes to real estate investing and not knowing how to begin, you’re definitely not alone.

Ever want to get started investing in real estate?  Check out this interview with a veteran real estate investor -I have been wanting to do some real estate investing for years, but just haven't gotten around to it yet.  We all have our excuses don't we?  But a friend of mine, Brandon Turner, is part of the largest real estate investing website out there (BiggerPockets.com), has been investing in real estate for years, and really is a great teacher and communicator.  So, I figured who better to ask some questions to....

People say “I have been wanting to do some real estate investing for years, but just haven’t gotten around to it yet.”, I would love to invest in real estate, but I’m just not sure about it since the market always fluctuates.” or “Investing in real estate is too complicated, I’ll just buy stocks and bonds instead.” We all have our excuses don’t we?

If you really are serious about real estate investing here are a few ways to help you get started asap.

BiggerPockets.com is the largest real estate investing website out there and is a great resource for getting started today. Research and find out if this is something you’re really wanting to do before taking the plunge. This could be a huge investment and depending on how you handle it you could come out way on top or sink in heartbeat if you don’t take thorough steps. Take you time and know any and all information before you invest in a company. NEVER act hastily when it comes to investing! Just like car shopping, search thoroughly before you make your final investing decisions; this will either sink or grow your savings dramatically.  (more…)

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