HOUSINGNEWS REPORT
THE RISING ‘BIG MIDDLE’ OF SINGLE FAMILY RENTALS
“We love the SFR rental model and the opportunity that exists in the market, and we’re no longer able to find any good yields in Florida,” said Nahon, president of Eagle River Homes. “In order to grow that business we have to go elsewhere. “We are looking from the Midwest through to some Northeast markets,” Nahon continued. “All the usual suspect markets throughout Pennsylvania, 0hio, into Illinois, maybe Indiana. Places where you can still find good blue collar houses where the demographics are showing opportunity for rental appreciation, asset appreciation. Really where the rent-cost matrix still shows a yield better than what you can get in the fixed income markets. That still has that unique SFR, HPA (home price appreciation) profile which was what existed in Florida five years ago.” While Nahon is moving toward middle America from the east coast, Jeff Pintar is moving toward middle America
markets ripe for profitable SFR acquisition, working to identify trusted local partners already operating in those markets. Some of the markets the company is targeting for future acquisitions include Houston, Indianapolis, Nashville, and Columbus, Ohio. “We’ve been able to find the right local partners … they are us in that local market. That is really what has given us comfort in investing capital in local markets that we haven’t
from the west coast when it comes to acquiring single family rentals.
“From a rental standpoint, the yields are really attractive from what we are starting to see,” said Pintar, founding partner and CEO at Pintar Investment Company, which began investing in residential real estate in 2009 and has built up a rental portfolio of about 400 properties in Southern California and Nevada.
Now Pintar has been looking further toward the nation’s interior to identify
“We love the SFR rental model and the opportunity that exists in the market, and we’re no longer able to find any good yields in Florida. In order to grow that business we have to go elsewhere.”
JAMIE NAHON PRESIDENT, EAGLE RIVER HOMES
MARKETS WITH HIGHEST SHARE OF INVESTORS BUYING 10 OR MORE PROPERTIES: Q3 2017
9.3%
MEMPHIS, TN-MS-AR BIRMINGHAM-HOOVER, AL CLARKSVILLE, TN-KY CHARLOTTE-CONCORD-GASTONIA, NC-SC KILLEEN-TEMPLE, TX JACKSONVILLE, FL EL PASO, TX ATLANTA-SANDY SPRINGS-ROSWELL, GA NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN OMAHA-COUNCIL BLUFFS, NE-IA
8.3%
6.9%
6.6%
6.1%
5.8%
5.3%
5.2%
5.1%
5.0%
3
NOVEMBER 2017 | ATTOM DATA SOLUTIONS
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