IRVINE, Calif., March 31, 2015 /PRNewswire/ -- HomeUnion, an online, real-estate investment management firm enabling value investing in single-family rental (SFR) properties announced today that it has added Birmingham, Ala. to its list of active investment markets. Investors can now find fully vetted, SFR investment properties in Birmingham on the company's website. HomeUnion also announced that it hired real estate veteran James Thornton, as investment location manager in Birmingham.
HomeUnion chooses its markets and properties using proprietary models that factor in home prices, vacancies, historical income trends, employment, local economy and population growth among other criteria. Birmingham meets HomeUnion's criteria, with favorable cap rates (the relationship between rental income and purchase price) and a positive economic environment and outlook, the company said.
Once a new market has been identified, HomeUnion hires real estate professionals, who have intimate working knowledge of neighborhood and property values. Thornton will fill this role and manage a network of fully-vetted property managers.
"The SFR market is evolving from do-it-yourself, hands-on investors who have bought and managed properties close to their homes to a broader segment of investors who are looking to build a portfolio of investments based on potential returns, not proximity," said Don Ganguly, CEO of HomeUnion. "After thorough research, we added the Birmingham market giving investors a chance to invest in properties that offer long-term growth and cash flow in a historically stable real estate market."
In addition to Birmingham, HomeUnion is actively listing investment properties in:
- San Antonio
Properties in HomeUnion markets generally range in value from $65,000 to $225,000 and are expected to offer annual returns ranging from 6.5 to 14% − depending on leverage. Expected return on investment is based on final purchase price, the amount of financing needed at closing, fees, rent and expense projections. Appreciation is not considered in the calculations.
Thornton brings more than 10 years of experience in the Birmingham real estate market and most recently was brokerage partner with Avast Realty, in Birmingham.
HomeUnion's investment site allows individuals to invest in single-family real estate, an asset class that was previously not available to the casual investor. With HomeUnion's guidance, investors choose a property that best fits their investment needs (income generation, growth or balanced). HomeUnion manages the acquisition for the owner and then handles the ongoing management of the property, which includes finding solid tenants, revenue management and expense control. The site has been operational since last May and the company has more than $20 million in property under management.
HomeUnion is an online real estate investment management firm, bringing value investing to the individual investor in single-family rental (SFR) properties. Based in Irvine, Calif., it provides all the services needed for individuals to invest remotely in SFR properties. HomeUnion's role spans the lifecycle of the investment transaction: from locating properties; advising on the purchase; finding renters; managing the property; and selling it when the time comes.