Monday, February 04, 2013

I Don't See This Ending Well

Happy for them to figure out how to manage a massive portfolio of single family home rentals. Just don't see it happening.

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.