April 19, 2024 2:04 pm
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Disturbing trend? Some Valley homebuilders selling new homes to investors for rentals

Jim Belfiore

By Angela Gonzales | Phoenix Business Journal

In the midst of some field work checking on homebuilding activity around the region, Jim Belfiore noticed something unusual.

The owner of Belfiore Real Estate Consulting saw a surprising number of for-rent signs on newly built homes in nearly a dozen new East Valley communities.

While he only visited about a dozen communities in his most recent round of inspections, Belfiore was concerned about this latest development. During the past 10 to 15 years, investors typically have focused on purchasing existing resale homes because they have been less expensive than new homes.

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.