Should Hedge Funds Be Allowed to Own Single-Family Rentals?

Should Wall Street companies be kicked out of the single-family rental market? Would it improve housing affordability if Congress banned institutional landlords from owning rental homes and forced them to sell off what they now own? That's exactly what U.S. Senator Jeff Merkley of Oregon and U.S. Representative Adam Smith of Washington believe is needed to improve housing affordability. They introduced legislation called "End Hedge Fund Control of American Homes Act" and it's getting a lot of pushback from people in the real estate industry. I just got back from the IMN Single Family Rental Conference in Scottsdale which was filled with fund managers who'd disagree with the concept. In this episode, you'll hear from a fund manager with more than 5,000 rental properties in 39 southeast communities. Richard Ross is the CEO of Quinn Residences. He talks about how single-family rentals are filling a badly needed housing gap, why he believes he's part of the solution (and not the problem), and what he thinks of this legislation. I am also a fund manager focused on the North Dallas area. It's an area of rapid growth where rentals are in high demand. You can find out how to invest in our North Dallas Rental Fund at growdevelopments.com. We will be accepting accredited investors until the beginning of February.  Please join our network of investors at realwealthshow.com. It's free to join and will give you full access to realwealth.com. For more information on syndications go to growdevelopments.com. And please subscribe to this podcast and leave a review! In addition to podcast platforms, you will find this interview on YouTube.  Thanks for listening! Kathy