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Non-Tech : Investing in Real Estate - Creative Opportunities
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To: Road Walker who wrote (1947)9/28/2013 6:04:23 PM
From: John Vosilla  Read Replies (1) of 2722
 
I just feel like the whole hedge fund residential thing is a house if cards. The business doesn't lend itself to mass volume. Too many grey area details spread over too much geography, no two situations alike, no two tenants alike. It just doesn't scale.

Is very much a people and relationship business. I hear horror stories of dealings between these hedge funds reps and contractors. Mistrust on both sides. They end up firing a lot of crews they also bring in property manages and have a corporate setup to deal with tenants. I've got my niche works quite well got great crews with mutual trust and understanding and go the extra yard to make the remodel really feel like a home. We all have each others back no matter what and have been working together for a number of years. Also I deal directly with all tenants so I limit turnover and give great personalized customer service. One of the hedge funds I know of buys lots of junkers low end in Hillsborough and Polk. They have like one third of the hundred or so homes purchased the past year sitting dark haven't started even the remodeling process as can't find good crews to work for them. I can only imagine what their tenant turnover is going to be..
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