Single-Family Rental Market Bullish, Helped by Online Platforms
Investing in single-family rental properties has become a lot easier with the advent of online platforms speeding up the process, and expanding the market.
OwnAmerica, Roofstock, Entera, and HomeUnion are a few single-family rental platforms offering equity and passive income to investors, and making this real estate sector less local. John Burns Real Estate Consulting's director of research Rick Palacios explains, "back in the day, you really had to buckle up your boots and do a lot of heavy lifting," to invest in an SFR, "Now, anybody with some money can do it through these platforms.” Writes Jeff Andrews for Curbed, the mass influx of companies targeting "mom and pop investors underscores what’s become a brave new world for the SFR industry since the housing bust in 2008," adding, "Technology and data allow companies to have a footprint in every market in America."
Roofstock CEO Gary Beasley was browsing through his company’s website while on a flight to New York when his neighbor leaned over and asked what he was looking at. Beasley explained that Roofstock is an online investment platform for buying and selling single-family rental properties. After getting an impromptu demo, Beasley’s neighbor registered on the site and took a rental unit off the market before their plane even landed. Flight attendants brought them champagne to celebrate the deal. “He was blown away,” Beasley said of his neighbor.