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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 home prices shooting up and I’m not getting a piece of that pie.”

So instead of waiting for another place to buy in the NYC area, and potentially getting out-bid once more, he decided to purchase a four-bedroom home in Atlanta for $100,000. In doing so, he traded in the dream of living in a home he owns for a chance to make a profit on his investment. The rent he gets from his tenant in Atlanta pays for the mortgage, taxes and property management fees, and Mr. Bahr pockets $400 per month which he can use toward the rent where he lives; not too shabby.

For the full article in the New York TImes, 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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