Home builders are selling off big chunks of their inventory to private equity or property management companies where they're using them as rentals. In fact, there's entire communities in Phoenix, Arizona that I'm watching get built where there is no homes for sale. So it makes sense that home builders hedge against fluctuations in the economy by having an end buyer in waiting so that their profit margins can be guaranteed barring some mishap like we saw recently.
When Zillow and Opendoor stopped their iBuying programs, home buyers didn’t find any deals. So, where did those homes go? Jamil Damji is the co-founder of KeyGlee, a real estate investment and wholesale company with more than 75 franchises. He’s also the star of “Triple Digit Flip” on A&E. Deidre Woollard caught up with Damji to discuss: - Why housing supply remains low, and its implications for homebuilders - How rents have stayed relatively stable - One player that’s fundamentally changed real estate investing -The changing role of the landlord Companies discussed: ZG, OPEN Host: Deidre Woollard Guest: Jamil Damji Producer: Ricky Mulvey Engineer: Tim Sparks
Learn more about your ad choices. Visit megaphone.fm/adchoices