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Single Family Housing Portfolio
We have identified two very specific locations where we are purchasing single family homes. Our business plan is to purchase, renovate, rent and "flip" the homes over the next few years. In our judgement, the demand for homes in these two areas will create an excess of demand over supply in the two to five year time frame. This will occur due to the strong economic expansion in the two locations.
Greenville/Spartanburg, SC is arguably the strongest economy in the country, where America still manufactures major items including BMW automobiles, GE appliances and Michelin Tires. Most recently, Toray, a major Japanese Corporation, has begun construction on a manufacturing facility to build wings for the Boeing 787. The factory is the largest first time investment in South Carolina's history. BMW and Michelin have both announced major expansion of their facilities and product lines.
We feel that we are buying these homes at significant discounts from the true values.
The business plan is a simple one: we will purchase renovate and rent the homes until the most propitious time to sell. In some cases sales may come right away, in others a few years.
We aim to replicate this activity over and over.