The very economic drivers that have been instrumental in the current loan direction that commercial investors are taking have been reflected in the increased demand for Patch of Land’s long-term rental options, as well as continued demand for its fix and flip options for rental purposes.
“We are seeing a lot of investors shifting to a buy to rent strategy. We are still seeing a healthy fix and flip business, but in addition to the fix and flip business, we have added the long-term rental business which is now about half our business,” he added.
Greenberg highlighted that in the fall of 2019, prior to the onslaught of the pandemic, Patch of Land had introduced the long-term rental program to its business. Interest in the long-term rental side had already generated considerable buzz from investors which only intensified during the COVID pandemic.