In 2012, there was the start of the “automated landlord” where the corporate landlord uses platform technology to collect and analyze property, tenant, and rental data to ensure a “smooth flow of rental income from tenants to capital markets.” #imfgtalks
Institutional investors are buying starter homes and offering all-cash offers to owners and renting the homes to the people who are priced out of neighbourhoods. #imfgtalks
Roofstock uses precision technologies to target housing markets through its 'market analyzer.' Firm xtracts data from social media, even jogging patterns, to predict future neighbourhood appeal. And uses targeted ads on Facebook to get people to sell their homes. #Imfgtalks
Roofstock has a poster boy for its ideal investor who earns over $400k a year from his investments. Roofstock trains retail investors to mimic corporate landlords with its Roofstock Academy. Learn about metrics. #imfgtalks
For Roofstock, the platform tools are not useful for their predictive accuracy but rather, attracting a large base of users with data-driven analysis and directing consumer investment. #imfgtalks
Roofstock does say its investment is speculative and has a high rate of risk, but then offers its Academy for newbie investors. #imfgtalks
Roofstock is building its own supply of risk-tolerant, millennial retail investors. 75% of the nearly 370,000 Roofstock users are first-time property investors, and more than half are under 35 years old. 93% invest in remote properties. #imfgtalks
Millennials have high amounts of student debt. Roofstock is targeting urban millennials who are shut out of homeownership. Seen as an attractive pathway to investments. #imfgtalks
The Digital investor landlord is self-directed and risk-taking. They reproduce the rationalities, logics and priorities of the corporate landlord. And participate on digital platforms to buy and sell single-family rental housing. #Imfgtalks
Policy responses to corporate landlords - there has been an uncoordinated approach to these sales. Atlanta mayor brokered a deal to protect some rental housing. Newark mayor has proposed making it illegal to solicit sales without owners' permission (ie via Facebook). #Imfgtalks
Gavin Newsom in California forbids sellers to bundle homes to buy to one buyer. Similar bill in Ohio. On national level, House bill called Stop Wall Street Landlords Act introduced. US Senate has a bill to end hedge fund control of large number of properties. #imfgtalks
Corporate landlords and spin-offs like Roofstock chase the highest returns. Corporate landlords pursue high evictions. Future research could focus on young investors who participate in this. #imfgtalks