Top markets for affordable renovated housing inventory

Despite the rapidly deteriorating affordability, there is some hope for homebuyers in the form of renovated homes: properties that have been rehabbed into move-in ready condition after being purchased at auction.

HousingWire Magazine: December 2021/ January 2022

AS WE ENTER A NEW YEAR, let’s look at some of the events that we can look forward to in 2022. But what about what’s next for the housing industry?

Back to the Future of Mortgage Lending

This webinar will be a discussion on understanding what’s to come in the future of mortgage lending by analyzing past trends in the industry, evolving consumer behaviors and demographics of the industry’s production capacity.

Logan Mohtashami on Omicron and pending home sales

In this episode of HousingWire Daily, Logan Mohtashami discusses how the new COVID variant, Omicron, will impact inflation and whether or not it will send mortgage rates lower.

FintechInvestmentsPolitics & MoneyReal Estate

Roofstock offering investors guaranteed rent on single-family rental homes

Company will pay investors rent on vacant properties for 12 months

Roofstock, a platform for buying and selling single-family rental homes, is offering a unique carrot to try to entice investors to use its platform to buy a property: guaranteed rent.

Roofstock announced Tuesday that it is rolling out what it calls an “industry-leading” guarantee that provides up to 12 months of rent on a vacant property purchased through the company’s platform.

According to the company, the “Roofstock Guarantee” begins providing rent payments to investors if the vacant property is not leased within 45 days of closing.

But that’s not all Roofstock is offering investors. The “Roofstock Guarantee” has two parts. The company is also set to offer to 30-day, money-back guarantee on single-family rentals purchased through its marketplace.

If a buyer is “not satisfied” with their purchase, Roofstock will relist the property on its marketplace for free. When the property sells, the company will refund the full original purchase price to the original buyer, regardless of what the home sells for in the subsequent sale.

If the home doesn’t sell with 90 days, the company says that it will buy the property back itself.

Each part of the guarantee carries other terms and conditions (as these things usually do), but the company said that it feels its technology and “strict underwriting criteria” ensure that only quality rentable properties are available on its platform.

“We’ve introduced the Roofstock Guarantee to give our investors increased confidence when investing through our platform,” said Gary Beasley, Roofstock's CEO and co-founder.

“We identify and curate investment properties and provide rich data and analytics to help investors find the homes that best meet their objectives,” Beasley added. “Our data shows that the actual one-year returns have on average outperformed our underwriting expectations on both a current yield and value appreciation basis, which gives us the confidence to stand behind our product offering.”

Beasley added that the company believes its technology give the company “unique insight” into a home’s investment potential, which makes it much easier to provide this guarantee.

“We expect to continue producing innovations and product enhancements like our Roofstock Guarantee that further our mission to democratize real estate investing,” Beasley concluded.

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