Today's market is crazy. And when things get crazy, one thing is common- to point fingers, assign blame and divide people. Investors are just one of the parties to get thrown into the crosshairs and sent to the Salem trials. While there are plenty of shady investors and loads of concerns for these large institutional buyers, let's address a few inconsistencies in some of the stories underneath the headlines you scroll by.
There are a million reasons why an individual or a family may rent. Owning a home is not a dream for everyone, nor is it feasible or even the right decision. While I'd love to break down the reasons why, suffice it to say not everyone wants, can, nor should buy a home today. Yet everyone needs a roof to live in. Enter a beautiful rental property.
Meeting with prospective tenants and walking them through their potential new home, albeit temporary home, is always an exhilarating experience for me. To be ABLE to help provide an affordable location for someone else to call home is a great honor. While the reasons behind moves vary from happy to sad, finding a new place to call home offers people a new beginning to start their next adventure, and I love being able to play even just a small role in it.
All investors are not created equal! While many despise and want to throw eggs at institutional home buyers like Zillow, Open Door and others for devouring inventory, creating such scarcity, and contributing to skyrocketing prices, there are many little mom and pops like me that are an extremely small percentage of transactions that provide great opportunities while creating very small retirement plans for their own families. This entrepreneurial spirit to identify community needs and deliver products to fill those needs is one of the greatest foundational opportunities this country offers. So please, think twice before lumping the local investors that love their work and enjoy your same community in the same boat as these institutional guys that you so quickly despise.
Today's market is tough, and problems with inventory and prices are complex. While some players in the investor space may be contributing to the problem, it surely is not all investors. Many investors are good people with small businesses, trying to put out nice places for folks to live. We here at Better Path work to provide homes for those who aren't in a position to buy through rentals. We also help take homes with overwhelming repairs and prepare them for their next long term owner. Finally, we have a mission to help reduce some of the inventory shortages by creating affordable new homes in and around our great homeland of Charlotte, North Carolina.
If you want to know more about our work, you can call us at 704.802.1097 today.