Mom and pop investors snapping up homes
Mom and pop investors are snapping up homes and condos to rent out all over the country. They're capitalizing on a confluence of events: affordable prices, rising rents and strong rental demand. A typical plan? Buy cheap. Collect rents to cover costs. Cash out - one day - when home prices recover. In a recent paper, the Federal Reserve noted that "small investors" are buying foreclosed homes and converting them to rentals. It also said that larger investors were struggling to do so, in part because of tight financing and their inability to buy enough properties in the same area to make it worthwhile.
Read article - USA Today
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