Just heard about Roofstock, a website trying to make it easy to buy and manage single family rentals across the country. Anyone looked into it?
I did. Unless I am missing something it sounds insane. I heard once this was backed by Bain Capital (Romney) so it seems the only reason anyone would do it. But literally you purchase a home over the internet with a renter there already. Oh yeh that doesn't sound like a recipe for disaster. Not to mention you would't be familiar with the laws in the jurisdiction.
I tried and I tried but couldn't see that this would be a very costly mistake if it went wrong.
Anyone else see something different than me?
Is there some reason we can't get a sight where we can invest in a rental property and get fractional ownership and share of the rent each month? Such as say the P to P company buys the property and owns it and takes 10% of the rent and any profit on selling the home, but the internet people provide the funds to buy the property in exchange for a share of the rent.