November 21, 2024 1:57 pm
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More big investors trying to cash out on rental home business

for rentBy Kristena Hansen | Phoenix Business Journal

Oaktree Capital Group and its partner Carrington Mortgage Services, both based in California, may be the latest institutional investors to cash out of the rental home business. Unnamed sources told Reuters that the duo is considering putting its portfolio of 500 fully leased homes nationwide up for sale for an unknown price. The article said the move is part of the pair’s effort to walk away from the business of buying cheap homes and renting them out, a business in which they’ve seen returns compressing.

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