See investment homes
Request Lease/Purchase
  Place a hold on a home

Looking for a great investment? Or maybe you need a year to sell your current home.

In either case, the Scenic Home Lease-Back Program is for you. This program is typically
reserved as a perk for corporate management personnel, but for a limited time, this program
is now available to all buyers. First-come, first-serve. There are only 14-models available as
of 9/15/08. These models will go quickly, and here's why.

You purchase a model home that we currently use to present to prospective buyers. These homes
     are upgraded and are staged with furnishings. (furnishings are not included in the the lease-back
     price.) We have priced these homes specifically with lease-back in mind.

We agree to lease-back the model home from you so we can continue to show this home to
     prospective buyers. We pay you a monthly rent, we pay the property taxes, we pay the insurance
     and we pay for any HOA (home owner association) dues that may apply.

     Example of purchase and lease-back.

     You purchase our Richmond model located at our Well Ridge community in Fort Mill, SC. This
     property is available for lease-back at $235,990.00. We will pay you a monthly rent of $1570.00
     for a minimum of 12-months. Remember that our rent payment to you only needs to cover your
     principle and interest because we are paying your taxes and insurance on the home.

     If you secure a mortgage for 80% of the cost, or $187,990, your payment based on a 30-year fixed
     rate of 6% would be $1128.00. You would make a monthly income of $442.00.

     Now, here's the best part. Unlike a typical investment property scenario, with a model home lease-back
     you don't have to worry about tenants ruining the carpeting or letting the landscaping go. The builder is
     your tenant and we need to keep the property looking it's very best. Additionally, if anything happens to the
     home while we are leasing it, we pay to fix it. So if the AC unit gets hit by lightning, we would replace it,
     not you. We maintain the property at our expense, so it always looks brand new.

  In summary, here are the advantages to this lease-back program:

     - We pay for your property taxes, insurance and all maintenance and repairs.
     - We pay you a lease payment that will generate a monthly income based on a 80% LTV.
     - We continue to pay you the lease payment for as long as we need to model or a minimum of 12-months.

Here are the disadvantages to a lease-back program:

     - This is an investment property so your lender will most likely require 20% down.
     - If we need the model after the initial 12-month period, you must allow us to utilize the model for
       marketing and sales purposes for as long as necessary. (typically until the community is sold out.)
       For most investors, this is actually a positive advantage, not a disadvantage. Keeping a tenant
       who pays to maintain the property and generates a positive cash flow every month is usually a good
       thing. This scenario would be a disadvantage for the investor who wishes to live in the model after
       the initial 12-month term.

As you can see, the advantages far outweigh the disadvantages.

There are also opportunities to purchase one of our non-model inventory homes and we will lease-back
for a maximum of 12-months. This program is to allow a buyer the time required to sell their current home.
At the end of the term, the lease is terminated and the buyer must take possession. Buyer cannot live in or
take possession until lease is terminated. If the buyer sells their current home in less than 12-months and
wishes to take possession early, the lease can be terminated by the buyer without penalty.

For more information or to request a lease-back purchase agreement for review, contact
Barry KuKes at bkukes@scenichomesnc.com or call Barry at 704-685-3247.

Click here to see some of the properties still available.