As a result of the subprime mortgage meltdown, the Single Family Rental housing space is poised to become an institutional asset class. In order to thrive in this burgeoning real estate segment, we designed systems and processes to effectively achieve the scale that capital requires in the space.
Many of our competitors initially pursued a resale flipping model because the initial returns were higher and the barriers-to-entry in the space were lower. Haven Realty Capital avoided the temptation to do so; rather, we began with an intense focus on designing, building and refining the management and operating platforms necessary to effectively acquire, stabilize, manage and scale our Single Family Rental strategy.
We come from a 30-year history of owning and operating management intensive rental housing in Southern California. We understand how to manage tenants and keep costs down. This experience has uniquely positioned us to take an aggressive approach to acquiring Single Family Rentals.
Since our company's formation, we have placed millions in capital to acquire hundreds of Single Family Rentals. In the process, we have learned from our experience and have refined our operating platforms appropriately, allowing us to effectively execute across all phases of our value chain.