Bruce Norris is joined this week by Rich Ford. Rich is Chief Development Officer and co-founder of Roofstock, a semi-stealth new startup based in Oakland. His website bills the company as “rental home investing made stock market simple.” Invitees who are starting to buy and sell on the site have called it the e-trade of occupied rental home investing. Rich is far from a newcomer to the single-family rental market. Before Roofstock, Rich spent 20 years doing investment banking with a focus on capital-raising and strategic advisory within the real estate sector and emerging single-family rental industry. Firms included Jeffries, Bank of America, Merrill Lynch, Leihman Brothers, and Morgan Stanley. He hosted the first ever single-family rental conference back in May 2012. He was also instrumental in the formation of Invitation Homes, the largest owner of single-family residences and rentals in the U.S. today. He has worked with all the largest participants in the SFR sector on capital raising and advisory work. This includes providing expertise on most of the IPOs. He was integral to the creation of a new class of preferred security for AMH that links home appreciation to returns. He also advised on the sale of over 6,000 single-family rental homes included many of the major transactions in the market. He is a frequent moderator and panelist at single-family rental conferences. Bruce and Rich discuss his company Roofstock, owning rental single-family homes, the scale of new rental homes and investor participation, large scale investors being market-makers, efficiencies in the real estate market, the target property for holders of rental properties, and much, much more on this week's Norris Group real estate radio show and podcast.
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