Rehabilitation vital to REO-to-rental success | HousingWire

Any long-term REO-to-rental strategy will need to adopt extensive refurbishment plans as much of the foreclosed property that financial institutions would like to bulk-sell is in bad shape.

Morgan Stanley ($23.51 -0.11%) analysts say that nearly 95% of distressed homes are in no shape to rent out, in some key markets. Only a tiny fraction of these properties are less than a decade old, they add.

“The importance of…

via Rehabilitation vital to REO-to-rental success.