Investors Widen U.S. Rental Search as Home Costs Rise
By: John Gittelsohn and Heather Perlberg
Institutional investors should focus on factors beyond rental yields and the cost of becoming a landlord, such as crime rates, job growth, and proximity to retail, when selecting homes to buy, according to Jordan Kavana, director of Aventura, Florida-based Transcendent Investment Management, which has been acquiring single-family homes since 2008.
Transcendent, which plans to spend $500 million on rentals by 2014, is looking at where it can invest for the “long run and not just …