In response to more and more requests, I am going to begin to share more information that is market information and opportunity based.
As the economy has beaten down people’s ability to purchase and homes, the number of rentals continues to increase dramatically. Two real estate investment trusts that recently went public are buying thousands of single-family rental homes and renting them out. These REITs likely may yield as high as 6-7% return annually within the next few years.
Silver Bay Realty Trust (SBY) manages more than 3,400 homes and has acquired $200 million to buy more. Silver Bay Realty Trust Corp. is a Maryland corporation focused on the acquisition, renovation, leasing and management of single-family properties for rental income and long-term capital appreciation. Silver Bay owns single-family properties in Arizona, California, Florida, Georgia, Nevada, North Carolina, Ohio and Texas.
Altisource Residential (RESI) has acquired $250 million to buy homes. Altisource Residential Corporation, through its wholly owned subsidiary, Altisource Residential L.P., focuses on acquiring, owning, and managing single-family rental properties throughout the United States. It intends to acquire single-family properties primarily through the acquisition of sub-performing and non-performing loan portfolios.