Kevin Ortner and Greg Rand have recently merged their two rental companies to create an all-purpose platform for rental property management. Although the two are on close terms now and working toward the same ambitious goal, they started out on opposite sides of the country with very different visions. Rand started OwnAmerica in 2010, a flagship company that provided a comprehensive marketplace offering investors an easy way to view statistics on and analyze different rental properties. Meanwhile, across the country Ortner had started Renters Warehouse with the aim of providing management services to new rental property owners that needed assistance figuring out how best to manage their properties after the housing bubble burst. It only took a few years for Rand and Ortner to discover each other and come to the realization that their separate companies were actually two sides of the same coin. It was in 2018 that Rand had the idea to merge the two, and in early 2019 Renters Warehouse acquired OwnAmerica to create a new and more innovative platform for investors to buy and manage rental properties. As of today, Renters Warehouse has plans to greatly expand their workforce and take on even more properties. Although it may seem ambitious, real estate trends in the U.S. offer an optimistic view for the future of Renters Warehouse and the rental market.
It’s less expensive to lease than claim a home, which is astonishing, shifting the tides in the US. #Ironclad
- 1Market crashes can present opportunities to buy assets at low valuations.
- 2The time to sell an asset is often not at the bottom of an economic cycle because cycles rebound (i.e. are cyclical).
- 3It is often cheaper to rent than to own a home.
See the original at: https://thinkrealty.com/going-for-billions/