Will become rentals? Good for price appreciation…
Single family rental is a budding new institutional asset class and is here to say.
That’s probably illegal and would not hold up if you were to enforce your rights in a court.
1 Like
I am waiting for Blackstone to buy my portfolio.
I wish I can find that chart that showed how much money was raised in the last couple of years for institutional Single family rentals. It was some gigantic number. Some are build-to-rent but many are buying from the market. Companies like American Homes 4 Rent and Invitation Homes have proven that SFR is a viable asset class.
I am in Palm Springs. 86 degrees. In a gated community 3/3 2700sf one story Indian Springs golf course frontage home. Purchased in May for $625k. The neighbors house is smaller and is listed $849k. Market is hot. Inventory low.
45709 Meadow lake
https://www.realtor.com/realestateandhomes-detail/45709-Meadow-Lake-Dr_Indio_CA_92201_M23517-28798
1 Like
.
1 Like
Purportedly from Zillow Offer employees. Seems their model was fine but managers wanted more growth.
2 Likes
If you are too conservative, yes the margin will look great (booking too much profit) but then you don’t win bids so it’s no use. It’s a fine balance. They probably got too aggressive too quickly. Should’ve taken baby steps.
When I buy a property, I look at all the alternative scenarios. What can I get for rent? What is the cost to flip? What is the hold period? What are the market conditions?
If I had to, could I live there? I don’t understand how Zillow screwed up in booming price appreciation market. They must be paying a lot for their loans. Their Phoenix houses will appreciate 15% in a year. Why sell? Just rent them out. If they paid too much they should have known. If every bid is winner they would know they paid too much. They should have immediately dropped their bid prices. If they only got one in ten bids they would be in better shape.
Maybe they are the reason Phoenix appreciated 15% in a year.
1 Like
I doubt that. Prices actually went up 32%. I think it is still a good bet. We are building another 250 units.
I am invested in building multi family there. The market is hot just like Vegas and SoCal.
Retirement money, tech, schools tourists… all driving Phoenix economy.
A friend started looking at Henderson, NV about a year ago. Prices jumped from $1.3M to $2.3M where he’s looking. Their only kid is in HS, so they view it as a vacation home that’ll become their actual home once the kid is in college. It’s crazy how much prices appreciated.
.
For diversification…That’s the place I have looked at 3 years ago… no money… so trying to accumulate… now forget it.
Henderson is a hot retirement spot. Only about .5-1 hr drive to Las Vegas and other sightseeing places.
1 Like
House prices will be up another 13.6% next year
Zillow’s home-flipping fiasco is sending shockwaves through the real-estate world. Here are the 8 biggest winners and losers
2 Likes