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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 nearly 700 houses.

But why the sudden interest in rental properties? These companies know that the current homeownership rate is at a 5-decade low. As prices continue to rise in the real estate market, many people have given up the “American Dream” of owning their own home and are opting to rent instead.

“The rental stigma has really subsided,” says Michael Cook, operations chief at closely held Streetlane Homes, which owns about 4,000 houses. “People are realizing that houses are not necessarily the best places to store wealth.”

For the full article, please click 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 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 Accounting team. He has over 16 years of finance and accounting experience.

Mr. Willig also ran a consulting practice and provided valuation, analysis, and transactional support services to multi-billion dollar real estate companies. Previously, Mr. Willig served as the Senior Controller and Vice President of Financial Analysis and then the Chief Financial Officer of the Athena Group, a multifamily development company and fund manager.

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