Roofstock, an online marketplace for investing in leased single-family rental (SFR) homes, announced this week it is expanding into the Atlanta and San Francisco East Bay region.
CEO and co-founder of Roofstock, Gary Beasley, stated:
“Atlanta and the San Francisco East Bay are very active SFR markets, each representing different but compelling characteristics, with attractively-priced Atlanta properties offering higher current yields, and the Bay Area offering strong rental growth and appreciation potential given the region’s growing economy and supply constraints. What makes Roofstock unique is we are separating the investing and operational elements, so investors anywhere in the world can now diversify their portfolios with U.S. rental homes without worrying about the day-to-day management responsibilities.”
In addition to now providing exclusive inventory in Atlanta and the San Francisco East Bay, Roofstock unveiled a new make-an-offer capability to supplement its fixed price offers, as well as new market-specific analyses to help buyers choose homes that best meet their investment criteria and goals. Beasley commented:
“Many of our charter customers told us they really liked the simplicity of our pre-negotiated price, but some buyers and sellers also wanted the ability to make or accept an offer on a property where the parties may be close in value. Starting today, we’re giving buyers an opportunity to submit offers on those homes where sellers are open to considering them.”
When using the new make-an-offer feature, until an offer is accepted the properties remain available for purchase at their asking prices, preserving the ability for investors to buy any home on Roofstock at a fixed price. Beasley added:
“In stock market parlance, think of the new feature as being able to make a limit order in addition to a market order.”