High volume SFR deal strategies

[Taylor Vogan]

My company is the acquisitions and asset manager for a large public REIT who has just entered the single-family rental space this year. We have secured funding to buy 300-400 SFR homes in each market over the next 18 months. We are actively buying in Phoenix, Atlanta, Dallas, and Columbus. We are just about to enter Charlotte and looking at other markets as well to increase our velocity.

If you had to buy ~1,200 single-family homes in the next year, how would you do it? We expect our average property will have $40K of renovations prior to leasing up. As long as we maintain a blended cap of 5.5% and 19% IRR we are happy.

[Chelsea Anderson]

Building relationships - specific relationships with the bigger property managers in town, homeowners who have multiple properties, estate attorneys? Working smarter... right?