02.08.2012 - Ex-Morgan Stanley analyst forms firm to buy rental homes
Oliver 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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