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Ex-Morgan Stanley analyst forms firm to buy rental homes

Posted on 02 August 2012

Oliver ChangOliver Chang, the former head of housing strategy at Morgan Stanley, said his new company aims to spend as much as $1 billion in the next two years buying rental homes, targeting low-cost houses that need major renovations.
“We’re looking for homes that are undervalued and need repairs,” Chang, who left Morgan Stanley in May, said in a telephone interview. “There’s not as much competition to buy those houses, so the price is lower.”……………………………………….Full Article: Source


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