"We recently entered an agreement with one of our long-standing third-party relationships to build homes that will be purchased by that third-party in a stand-alone rental community," Lennar President Rick Beckwitt said on the company's earnings call. "This community is in Florida and is the first in what we believe will be an ongoing business strategy and relationship where we build and sell homes in bulk on land owned by third parties with no lease-up risk."
"We've got clients, multiple, well over a couple billion dollars worth of capital looking to place in this space," said Michael Finch, executive vice president at SVN/SFRhub Advisors, a new Phoenix-based commercial brokerage firm focused on single family rental and build-to-rent investment portfolios. "They are looking to acquire 5-6,000 homes in the next two years."
Veena Developers, being in the construction industry for many successful years, bringing together the talents of the in-house teams of land planners, engineers, architects, landscape architects, and Real Estate professionals to ensure the best infrastructure for every facet of each home is well thought out, much prior to construction. Their deep understanding of the Real Estate business acquired for so many years has propelled the brand name. They are counted among the highly reputed homemakers with the most exacting standards of great precision. Veena Developers believes in planning and constant communication in each critical step of building the dreams. This construction company provides expert support and guidance to its clientele base while continually raising their benchmark through strong foundations like honesty, integrity, and innovation.
Foreclosures, however, are now few and far between. Distressed properties — foreclosures and short sales ) — make up just 2% of home sales today, down from a high of 49% in March 2009, according to the National Association of Realtors. The regular existing home market is very pricey, so investors are now turning to a new strategy: Buy new. And suddenly, the so-called build-to-rent market is exploding.