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Outpriced Home Buyers Opt for Investments Instead

There’s a movement underfoot being powered by potential home buyers who can’t afford to buy single-family homes in the cities in which they live. Their solution: Forget home ownership where you live and buy a house that you can rent out in a cheaper market. With large investment firms entering the housing market and driving up prices, more and more prospective buyers are opting to stay in their own rentals and purchase homes in smaller, less expensive cities that they then can rent out. Goodbye “home sweet home;” and say hello to a smart investment. Take Andrew Bahr of Jackson Heights, New York, who was outbid for a two-bedroom apartment. “I was tired of looking around me and seeing all the

CoreVest to Expand Lending in Single-Family Rental Market

Newly-launched CoreVest American Financial Lender, armed with a major infusion of capital, is setting its sights on helping individuals invest in multiple homes in the single-family rental market. CoreVest, headquartered in New York City, offers single-asset and portfolio loans on residential properties as well as credit lines and bridge loans. Under the direction of CEO Beth O’Brien, the company will provide services to a broad spectrum of investors, from smaller “Mom and Pop” operation that purchase one or several single-family properties to big institutional investors who acquire several thousand homes. “We will do a $100,000-loan to one person who has one rental house,” she explains. “We

Wall Street: Your New Landlord?

If you’re planning to rent a single-family home, you may be surprised that your landlord could be a large Wall Street investment firm. Yes, the trustworthy people who precipitated the Great Recession of 2008 are gobbling up homes all over the country and shaking up the rental markets. According to a recent Wall Street Journal article “Meet Your New Landlord: Wall Street,” these firms are targeting suburban neighborhoods and outbidding other prospective home buyers, often paying cash, then quickly renting them out, often at above-market prices. In Spring Hill, a suburb of Nashville, TN, four firms -- American Homes, Colony Starwood Homes, Progress Residential and Streetlane Homes -- own nearl

Chicago Underwater?

More local homeowners are underwater on their mortgages than in just about any​ metro area in the nation, according to a new report. So said the a recent story in Crain’s Chicago Business Chicago Leads the Nation in Underwater Homes. “Chicago had the third-highest rate of underwater mortgages among major metro areas,” the report said. “Twelve percent of Chicago homeowners with a mortgage were underwater in the first quarter, according to CoreLogic. The only large metro areas where the rate was higher were Miami (15.7%) and Las Vegas (14.2%).” By contrast, the CoreLogic study reported that 6.1% of all US residential mortgages were underwater in the first quarter, down from 8.1% twelve months

7 Reasons to Hire a Property Manager [Infographic]

Thinking of buying your first rental property, or do you have a portfolio of single-family homes that you need to tend to? Ask yourself if you have the time and inclination to market your property, screen potential tenants, coordinate inspections, maintenance, rent collection, and evictions? Are you a long-distance investor? If your answer is yes to both, you may want to consider a property manager. Consider investing in a professionally managed portfolio of single-family homes? Please contact Harold Willig at harold.willig@springviewinvestments.com or 917-209-4452. Harold Willig is the Manager of SpringView Investment Management, LLC, which he founded in 2012. Mr. Willig also served as HFZ

Has the Chicago Real Estate Market for Single-Family Homes Changed?

We are almost halfway through 2017—just enough time to see if those ubiquitous year-end projections may in fact come to fruition. Laura Alamery, a Chicago-based real estate investor and mentor, opined these points in December 2016: The Chicago real estate market has stabilized. Sellers need to lower their expectations and be more open to negotiating as more experienced buyers come to Chicago. Prices and sales will increase. Cook County will remain one of the top counties for real estate cash transactions in the US, and has a ready and qualified pool of cash buyers. What do you think of the above predictions? For the full article, please go here. Consider investing in a professionally managed

How to Save Money on Your Air Conditioning Bill [Infographic]

Property managers, landlords, and renters: is your air conditioner blowing cold? It’s summertime—it better be. Check out these cool tips on why you should schedule a home performance evaluation, choose which repairs or upgrades to make, if any, and reap the savings, all courtesy of Clark Rush: Consider investing in a professionally managed portfolio of single-family homes? Please contact Harold Willig at harold.willig@springviewinvestments.com or 917-209-4452. Harold Willig is the Manager of SpringView Investment Management, LLC, which he founded in 2012. Mr. Willig also served as HFZ Capital Group’s Chief Financial Officer, and was responsible for the oversight of HFZ's Finance and Account

A Two-Minute Summary of Ten Years of Real Estate Investment Trends in Single-Family Homes

We liked this recent article in Seeking Alpha about home ownership and investment trends in the US in the last ten years. A quick summary: * 37% of all homes sold in the U.S. last year were purchased for investment purposes. * The homeownership rate in 2016 was the lowest in 50 years, as renting has been increasingly the more frequent choice compared to purchasing. * The negative price movements of the last few months are likely to not only persist, but become more significant. For the full article, please see here. Consider investing in a professionally managed portfolio of single-family homes? Please contact Harold Willig at harold.willig@springviewinvestments.com or 917-209-4452. Harold

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