JAY-Z AND WILL SMITH FUND RENT-TO-OWN HOMEBUYER FIRM

[ScorpDiesel]

Rent to own is a scam

read the fine print very carefully

in places where it has been tried before
They can take your house for one minor slip up

rent to own rips off vulnerable people

my ex is a property lawyer that deals with a lot of this

its not helping the community at all

What’s the Catch with Rent to Own Homes? 7 Reasons to Beware of These Deals

Rent-to-own contracts sound good on paper, but you shouldn’t sign one without carefully considering the potential drawbacks, too.

www.homelight.com

they are a way to take advantage of people who are desperate to own homes

they will often end up paying more in rent than they would for a mortgage
and there is no guarantee that they would end up with the hosue in the end

you can miss a single payment and end up losing the house
with no legal recourse

so you could be paying money for years and years and have no equity

 

[ScorpDiesel]

This is no different than Russell Simmons coming out with a credit card targeting people desperate for credit. People who are risky, i.e. can't buy a house, will pay for it in higher rates and fees. Rent-a-Center is another example. For people who don't have the money to buy furniture outright, they rent furniture with the option to buy. When the furniture is paid off, they've paid much more than if they'd paid for it outright. And if you default, they can come get the shit legally.

 

[shaddyvillethug]

Vampires

 

[Jabrijones310]

Listen. I am all for black home ownership.
Couple of points,
1) real estate is a serious game of sacrifice and discipline.
2) Hope the rates on the loans are NOT rip offs.
3) Hope the houses are good
4) God Bless everyone involved.

This is the Buffett forecast of the US becoming a nation of renters, to the next bubble crash from covid inflation. Happened in 2008 from 9/11, which was small compared to the funding this go round. The houses are starter homes and nothing fancy.

 

[footloose]

it’s not paying the same it’s paying more
And you have no protection against the landlord

read this article

https://www.google.com/amp/s/amp.theatlantic.com/amp/article/557588/

This story said he paid less in payment Vs rent

 

[blackpepper]

People are assuming the business will be predatory. None of us have seen the contract or terms of service. ...

Some are assuming, but most here imo want to believe the best will come from this effort. It is just very difficult knowing the history of the US financial institutions/legal system and how they've purposely used such contracts to systematically disadvantaged black people time and again. That's even before you factor in the reputations of the celebs reportedly associated with the project.

 

[TimRock]

We don't even have all the details yet.

 

[theteacher]

They should do like Warrick Dunn is doing giving away free homes to the less fortunate.

EXACTLY!!!
He gives away a home every year, since his mom died on duty.​

 

[theteacher]

Also,
I'm not sure how much research yall did before yall start praising Jay and Will.
But this company was started by two CACs
Who went bankrupt in their first year.
Seems a bit fishy.​

 

[footloose]

Also,
I'm not sure how much research yall did before yall start praising Jay and Will.
But this company was started by two CACs
Who went bankrupt in their first year.
Seems a bit fishy.​

Also,
I'm not sure how much research yall did before yall start praising Jay and Will.
But this company was started by two CACs
Who went bankrupt in their first year.
Seems a bit fishy.​

Yeah it says they’re just invested in it. But is there any connection to the Biden plan for home ownership for minority’s

 

[footloose]

They should do like Warrick Dunn is doing giving away free homes to the less fortunate.

Why. It seems like getting renters into homes where there already paying someone else’s mortgage reaches more people. That’s is If what there doing is trying to close wealth gap

 

[Entrepronegro]

Why. It seems like getting renters into homes where there already paying someone else’s mortgage reaches more people. That’s is If what there doing is trying to close wealth gap

Gotta get more details on what they trying to do before I can give a response.

 

[KunningLinguist]

Not even 2 pages before..

Remember where you are

Cats that do nothing for the community but will talk down on someone actually doing something

 

[Flawless]

Those rent to own schemes fuck people over when you do the math.

 

[Flawless]

Say what you want, but it is some people's only chance to own a home. Period. And they are giving them that chance. People rent an apartment for years and pay the same amount they would pay for a mortgage, but they can't get one....so this is a chance....

Naw, there are many programs out there that can help people buy a home with little to no down payment, if you are low income.

 

[jasonblacc]

Black people are not the only people that smoke or drink.. a black person getting into those biz don’t necessarily mean they going after black consumers..they could be going after the billion dollar market each entity is in.. the rock got a tequila do you see every nig in the hood copping it? But guess what cacs are definitely copping it..should the rock fall back from it and not get that cac money?..samething with weed tons of non blacks smoke why wouldn’t someone jump on the most consumed drug on the planet..more people use weed than any other drug..it’s only smart to hop on that money train

I’m need you to stop with the bullshit, talking in code as if you don’t know the market the rock is targeting is far different than a market targeted by rappers. I have never heard the rock on “urban station” or a podcast that caters to hiphop or majority black crowd. You know this so you just talked In circles about nothing. When a rapper gets liquor brand 75% of their promo is targeted towards black folk. Club appearances etc

I know weed is widely consumed and I believe in its medicinal properties. I disagree on smoking it. I believe there are other ways to consume it. And I understand getting in on that market, but we are not underserved when it comes to weed. It’s easy to get weed if you live in state where’s its legal. It’s a lot harder for black people to get loans for businesses and homes.

 

[theteacher]

Remember where you are

Cats that do nothing for the community but will talk down on someone actually doing something

The cat is out of the bag.
black people in the hood/projects got money
and this is a way to get it.
Mask it up with home ownership.
Why would I rent to own?

Check it,
They rent for 2 years,
then they can buy,
at a price that THEY set.​

 

[havelcok]

 

[ArsenalCannon357]

Rent to own is a scam

read the fine print very carefully

in places where it has been tried before
They can take your house for one minor slip up

I'm a landlord and this is SPOT ON...

 

[ArsenalCannon357]

 

[850credit]

Doesn't look so predatory now. For a lot of folks this is the only way they can realistically get into Homeownership. Lots of folk have jacked up credit and a baby on the way...don't have time to wait to fix their credit, or don't have the income to qualify for loans right now.

 

[havelcok]

Doesn't look so predatory now. For a lot of folks this is the only way they can realistically get into Homeownership. Lots of folk have jacked up credit and a baby on the way...don't have time to wait to fix their credit, or don't have the income to qualify for loans right now.

then they cant afford a house

 

[Politic Negro]

 

[Flawless]

These are like paid informercials

 

[Politic Negro]

These are like paid informercials

First own is definitely their own. The others are the most recent ones I could find.