Even though some firms are pulling back on their practice of purchasing distressed single-family homes to make them into rentals in the face of a projected slowdown in rising prices and climbing interest rates, others are settling in for the long term, reports CNBC.
Part of the divide comes down to the difference between the investment timescales. Some firms tend to be focused on generating quicker returns through short-term rentals and then sales; others are looking to make a longer play.
“What we’ve sought to do is to say, ‘Could we convert this business into something that looks, acts and smells like multifamily?’ ” Laurie Hawkes, president and chief operating officer of Arizona-based American Residential Properties, a publicly traded real estate investment trust, told CNBC.
Source: CNBC
