I’ve been reading about these large investment groups, Blackstone, Colony Capital, and others and wondering if we’d see them here in the La Quinta or Palm Springs Valley area..well here they are! This morning on the MLS, the La Quinta Cove recorded about 40 sales..and were they under-valued! I checked property histories and TAx records..sure enough. Block purchases and sales.
Investment groups, Hedge Funders..all buying blocks of homes for huge amounts of cash, cleaning them up cosmetically and renting them! Good or bad? Both I think..