Investors team up to buy 50 Tucson homes through crowdfunding platform | Subscriber

[ad_1]

A selection of some of the 50 Tucson area homes that investors bought for $ 14.5 million through the RealtyMogul crowdfunding platform.

Courtesy RealtyMogul

A group of investors from across the country have come together to buy 50 Tucson homes for use as rental properties.

The 49 investors spent $ 14.5 million on the single-family homes via the crowdfunding platform RealtyMogul.

The website allows sponsors of a project to get in touch with investors interested in smaller opportunities, said Ian Rosa, RealtyMogul’s assistant representative, who handled the transaction for the unnamed investors.

Before crowdfunding, he said someone looking for partners for an investment idea called people he knew.

“That broadens the base,” said Rosa.

The Tucson investment opportunity was attractive due to the city’s growth and lower cost of living compared to Phoenix.

“There are a lot of people who cannot afford their own home and who don’t want to live in an apartment,” says Rosa. “We like the Tucson market and the single-family home rental idea.”

Single-family homes for rent have become very popular in the Tucson market, as well as other parts of the country experiencing a pandemic-inspired transplant of remote workers trying to leave large, crowded cities.

On-site developers are building master-planned communities intended solely for tenants.

[ad_2]