 MORE COMPETITION (by NC INVESTOR [NC]) Feb 19, 2018 12:38 PM
 MORE COMPETITION (by Robert,OntarioCan [ON]) Feb 19, 2018 1:15 PM
MORE COMPETITION (by NC INVESTOR [NC]) Feb 19, 2018 1:27 PM
MORE COMPETITION (by BRAD 20,000 [IN]) Feb 19, 2018 1:41 PM
MORE COMPETITION (by WMH [NC]) Feb 19, 2018 1:56 PM
MORE COMPETITION (by RathdrumGal [ID]) Feb 19, 2018 10:04 PM
MORE COMPETITION (by David [KY]) Feb 20, 2018 4:46 AM
MORE COMPETITION (by Chris [CT]) Feb 21, 2018 10:28 AM
MORE COMPETITION (by pmh [TX]) Feb 21, 2018 2:56 PM
MORE COMPETITION (by Lana [IN]) Feb 25, 2018 11:57 AM
MORE COMPETITION (by NC INVESTOR [NC]) Posted on: Feb 19, 2018 12:38 PM
Message:
Why “build to rent” is having its moment
The ranks of renters have swollen since the financial crisis, but there are few foreclosed homes left to pick up on the cheap and rent out. So some of the biggest landlords are buying, or building, new single-family homes to pad their portfolios.
While the initial yields for new construction tend to be lower, these firms have access to cheaper capital than they did when they started out a few years ago; some have raised equity or obtained financing from government-sponsored enterprises. Consolidation has also created experienced property managers with huge economies of scale, another factor making new build more economical
from nat'l Mortgage News
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MORE COMPETITION (by Robert,OntarioCan [ON]) Posted on: Feb 19, 2018 1:15 PM
Message:
Doubt there are very few houses that have net zero energy consumption or houses that have low utility costs like some of videos on You Tube. As energy costs go up then see if it feasible to build something different. --147.194.xxx.xxx |
MORE COMPETITION (by NC INVESTOR [NC]) Posted on: Feb 19, 2018 1:27 PM
Message:
ROBERT: I don't think they care about energy consumption they just want to blanket the rental market by adding to their multi-family units. Not everyone wants or needs an apt. --71.75.xx.xx |
MORE COMPETITION (by BRAD 20,000 [IN]) Posted on: Feb 19, 2018 1:41 PM
Message:
Always be adapting.
BRAD --68.51.xx.xxx |
MORE COMPETITION (by WMH [NC]) Posted on: Feb 19, 2018 1:56 PM
Message:
Right down the road from us, a developer is building "tiny houses" (cottage court) on spec. I'm not worried yet because they are not renting, they are selling, and they are over $200k for what looks like a 650 square foot house. Cute, though.
Also nearby, a developer has built a slew of "affordable, pet-friendly town homes." $1500 per month minimum rent. About $300 over our HIGHEST rent, so I'm okay with that.
A Section 8 complex nearby is advertising openings for 2 AND 3 bedroom units at $895, WELL under our market rent, but they can't seem to find tenants - I can't figure that one out as it is not ONLY Section 8 and they are honestly nice well-kept units, at least based on the ones we toured. With on-site management! --50.82.xxx.xx |
MORE COMPETITION (by RathdrumGal [ID]) Posted on: Feb 19, 2018 10:04 PM
Message:
Shortly after we bought our older building, several mega apartment complexes were built in our area. I was worried about the competition, until I toured them. Nice, new apartments, but their rents were $400-500 higher than my rent. Instead of supply forcing rents down, these high priced apartments helped pull rents UP.
High land costs and regulatory costs are driving up the cost of new construction. --98.146.xxx.xxx |
MORE COMPETITION (by David [KY]) Posted on: Feb 20, 2018 4:46 AM
Message:
The only competition out here in Northern Kentucky are these massive condo and townhome complexes being put up all over the place. This is positive because their rents are crazy high and that helps me receive more rent out of the cheap small homes that I am buying. Heck now a 1/1 shotgun goes for 695. Good times moving forward.
Just this week a 20k property listed 2/1 just popped up. Potential rent 695-795. they are not a dime a dozen anymore but there are still some deals out there around here. --74.128.xxx.xx |
MORE COMPETITION (by Chris [CT]) Posted on: Feb 21, 2018 10:28 AM
Message:
Build to rent is the way I like doing it! Brand new is so nice, much less hassle. --24.45.xxx.xx |
MORE COMPETITION (by pmh [TX]) Posted on: Feb 21, 2018 2:56 PM
Message:
precisely Rath. new build raises rents. they are so much more expensive to pay for all the niceties. not everyone wants granite countertops and very small bedrooms and to pay 309-400 more per month. I wish I had more $ to buy in my mkt. huge demand for alternatives to the new builds. --104.218.xxx.xx |
MORE COMPETITION (by Lana [IN]) Posted on: Feb 25, 2018 11:57 AM
Message:
What is not fair, is local government. A nearby apartment complex with 49 duplexes recently built has a great property tax bill. Each duplex is 2-3BR with 1 1/2 bath and a 2 car garage. Initially each duplex was assessed at 149K but they got it down to 29K a building. All my houses are assessed at at least 2 times more.
An older adults apartments renovation of a local old building got 900K of infrastructure installation as a grant from city government.
Not a level playing field. --216.23.xxx.xx |
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