Information & FAQ's
How does it work?
We see our qualified candidates as our investment! We do not qualify our candidates based on their credit score. We understand that just because someone has bad credit, or no credit at all, does not always mean that they are in a bad financial situation. We qualify our candidates based on their situation in general and on an individual basis, which we will analyze throughout our qualification process.
The first step in our qualification process is to set up an informational meeting with us. During that meeting we will give you an overall view of the program, how it works, and what you have to do to get started. If you are interested in setting up the informational meeting, you can contact us via email, or you can give us a call.
Office: (402) 644-8320
Top 5 reasons to be in our Home Ownership Program
Putting Money Towards Your Own Home:
The money that you are paying right now for rent could very well be going towards your own home. Instead of renting while you improve your finances to eventually get a home loan from a bank, you could be putting your money towards your own home while at the same time working on improving your finances. You might end up paying less for a property than if you rented that same property. And even if you end up paying more, your money is going towards owning that home. You would not be paying for a service (renting); you would be paying for your own home!
Pride of Ownership:
It is not just another piece of property. When you get your own home, it becomes YOURS. Any home can feel good, but it is a far better feeling when the home actually belongs to you. Whether it is a simple home, or a castle, buying a home represents a dream accomplished. From first-time home buyers to people who want to simply upgrade to the home they have always wanted, it is a dream come true. No matter what your lifestyle is or what you do for a living, your life ultimately revolves around your home.
Equity is the difference between what you owe on a property and what it is actually worth. Over time, as homeowners make their house payments and build up equity, which can amount to a sizable amount of cash, they owe less on a house that is worth more. Even financial planners say buying a house is a smart idea for people who want to build wealth over the long run!
You Would Be Out of Renting (Throwing Your Money Away):
Sometimes renting is a must do, due to a short period of stay, a difficult financial situation, or just because the bank will not give you a loan for a home right now. Even if you are in a stable financial situation in the present, if you have less than perfect credit, the bank is not going to consider you for a home loan. With our Home Ownership Program, we want to offer people a third choice and the opportunity to start investing in their own home, instead of renting and throwing their money away.
Booth Corp’s Expertise:
Booth Corp. has been in the Real Estate business for almost 30 years. We have invested in residential, as well as commercial property, and we have also invested in business ventures such as storage units, fitness clubs, and restaurants. We know the Norfolk Real Estate market inside and out. That valuable expertise is going to be available to you in every single step of the qualification, and more importantly, the buying process. Great deals are everywhere! You are going to find this out once you qualify for our Home Ownership Program and start looking for your home out in the open market. You may even find you will have instant equity!
Our Home Ownership Program's General Idea
Real estate is our business and we do our business very well. Real estate is not just about property and houses; for our candidates it is about investing in themselves and their family’s lives. Booth Corp. helps people invest in not just real estate but in their family’s future. Living your life in a property you can call your own is one of the greatest investments for your family. Renting may be a way of existing and having a place to stay for a while, but when you have the opportunity to live in your own home, and you take it, that is Living!
Part of what we do is help people invest in just such a way. Take a look at our Home Ownership Program. See if it may be the right way for you and your family to invest in the future and then give us call. It is free to find out! Take the time and effort to see how you can stop renting and paying for someone else’s house and start paying for your own home!
Maybe you cannot get a home loan right now because of your credit score (or lack thereof), a bankruptcy or a foreclosure, so you think you have no other choice, but to rent. You are tired of paying someone else's mortgage, having to move whenever the landlord decides not to renew your lease, having to fix a property that is not yours, or living in a house that the landlord is not fixing. Booth Corp wants to offer you a Third Choice.
Open Market Level
When we say the Open Market, we mean any house for sale, whether it is being offered through a realtor (the MLS / Multiple Listing Service), for sale by owner (FSBO), as a foreclosure sale, or as a private sale (Before it is listed with a realtor). We are also constantly looking for houses by contacting people and asking if they wish to sell their home.
Once our candidate is qualified for this level, we become partners. This is a huge advantage, because now our candidates have experts working with them to find, negotiate, and buy a Great Deal! At this point, we start to discuss a price range for them that fits their financial means. Once they have that price range, they can start looking for houses with confidence knowing they have the buying power of Booth Corp. behind them!
Currently Owned Home Level
Sometimes we offer a "Currently Owned Home" (Already owned by Booth Corp.) under our Home Ownership Program. Because we currently own that property, we do not have to contend with negotiations, closing costs, fees, etc. That gives us the ability to offer our qualified candidates an even greater deal on that specific property. Please understand that it is not the only property that is available. If you qualify for the Open Market Level, you have the possibility to choose a home, within your financial means, out in the Open Market.
(Multiple listings, For Sale By Owner, Private Sales, even houses not currently listed for sale.)
Why have you developed this program?
We have been in the same situation as a lot of our candidates! We have had bad credit. We have rented and thrown our money away, but through real estate, we have become better with it!
We have developed this exciting Home Ownership Program to work with people who we call, “In the Middle”, who want to get out of renting but cannot get a loan from a bank right now.
We are not a bank; we are a private, Norfolk-based company. We base our qualification criteria on an individual basis. We understand that just because you have less than perfect credit, does not mean you are in an unstable financial situation in the present.
Everyone who is renting can potentially be qualified through us and have the possibility of living in a home of their own. Do not fall into the trap of disqualifying yourself from our program just because you think you know what a bank is looking for. Do not discount yourself just because you think you cannot qualify for our Home Ownership Program; let us talk with you first.
Unlike banks, we consider qualifying people who:
- Have bad credit
- Have no credit at all
- Have had or are going through a foreclosure or bankruptcy
- Have just started a new job
- Have just moved or are in the process of moving
- Have gone through a divorce, a sickness, loss of job in the past
We understand. Life happens! Do not let that stuff stop you from owning a home!
Why should I do the Home Ownership Program?
Get Out of Renting and Throwing Your Money Away:
Whatever you are paying right now for rent ($500, $600, $1,000 or more) will not give you any Return on your Investment. That is $6,000, $7,200, $12,000 or more you are throwing away every year!
Under our Home Ownership Program you will have the full equitable rights to the property. (Equity is the difference between what you owe on a property and what it is actually worth). Over time, that can amount to a Big Return on your Investment.
Pay Down on the Principal:
Each month a portion of your payment will go toward the principal amount of what you owe, therefore you owe less and less on a house that is worth more and more.
Have Stability and Security:
You will not have to be afraid that a landlord will ask you to leave or not renew your lease because they need the property back or they want to sell it. Your Home Ownership Program agreement will protect you from all of that. As long as everything is followed, you will have no fears of ever having to move because someone else decided it.
What do I have to do to qualify for your Home Ownership Program?
The first step in our qualification process is to set up an informational meeting with us. During that meeting we will give you an overall view of the program, how it works, and what you have to do to get started. If you are interested in setting up the informational meeting, you can contact us via email or just give us a call.
Be a part of the many individuals and families we have helped who are currently living in their own homes!
Just hear and read some of our Qualified Candidates' Testimonials about what they think of our program.
Office: (402) 644-8320
What is my Return on Investment when renting?
Return on Investment when Renting at $1,100 Scenario
Cost of house owned by Landlord: $95,000 (3 bedroom)
Monthly rent paid to Landlord: $1,100
x 12 months: $13,200
Living in the house for 5 years:
x 5 years: $66,000 paid to Landlord
This is a Return on your Investment of 00 %
* Use your own real life numbers, but your Return on Investment always comes out the same.
What is my Return on Investment in your Home Ownership Program?
Details will be revealed in the qualification process. In most cases, the Return on your Investment is in the hundreds of percent!
Stocks = 12%
Mutual funds = 5%
CD's = 0.5%
What is your house purchasing range?
It depends on our candidates’ personal and financial situation. Under our Home Ownership Program, we have qualified candidates for houses that range from $40,000 to $200,000+. Any house, in any price range, may be an option under our Home Ownership Program.
What do you look for in a candidate?
First of all, we developed our Home Ownership Program to be on such an INDIVIDUAL BASIS that we don’t necessarily have set qualifications.
It all depends on who you are and about your sitiuation! A lot of times a credit score is not indicative of who someone really is.
However, you do need to have...
- The ABILITY to own a home
- The DESIRE and DETERMINATION to want to change your life
- Financial stability and a financial commitment
- The ability to get your own home loan from a bank within a 5-year period
We are now offering a Currently Owned Home at 423 Lincoln Ave under our amazing Home Ownership Program.
This Home will NOT last long and you will be able to get a GREAT DEAL!!!
We are hosting an OPEN H...