The housing economy is just beginning to recover from a multi-year nightmare that would have been much worse if the single family rentals that are filled with tenants today were still on the market as foreclosures, infecting home values for blocks. The investors who took a gamble, bought them, spent an average of $11,000 on rehabbing them, and now provide housing for others, have reinvented a traditional housing option and adapted it to the needs of a young generation seeking an alternative to apartment living and owner-occupancy. If it works, as our research suggests it will, the closing chapter on the foreclosure crisis will be a happy one.
Chris Clothier is an active real estate investor and entrepreneur with executive positions in Memphis Invest, GP, Dallas Invest, GP and Premier Property Management Group.
