The firm’s unit that caters to individuals and families with more than $5 million, put client money in a partnership that bought more than 5,000 single family homes to rent in Florida, Arizona, Nevada and California, said David Lyon, a managing director and investment specialist at J.P. Morgan Private Bank. Investors can expect returns of as much as 8 percent annually from rental income as well as part of the profits when the homes are sold, he said.
Monday, February 04, 2013
Happy for them to figure out how to manage a massive portfolio of single family home rentals. Just don't see it happening.
by Atrios at 11:12