Investors Are Looking to Buy Homes by the Thousands

By artappraiser on Mon, 04/02/2012 - 10:51pm |

By Mokoto Rich, New York Times, April 2/3, 2012

RIVERSIDE, Calif. — At least 20 times a day, Alan Hladik walks into a fixer-upper and tries to figure out if it is worth buying.

As an inspector for the Waypoint Real Estate Group, Mr. Hladik takes about 20 minutes to walk through each home, noting worn kitchen cabinets or missing roof tiles. The blistering pace is necessary to keep up with Waypoint’s appetite: the company, which has bought about 1,200 homes since 2008 — and is now buying five to seven a day — is an early entrant in a business that some deep-pocketed investors are betting is poised to explode [....]

URL:

www.nytimes.com/2012/04/03/business/investors-are-looking-to-buy-homes-by-the-thousands.html