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據WSJ,建房公司Beazer和KKR Investment聯合推出了一個專做單獨房出租的REIT. Beazer貢獻價值20Million 的192套房子,KKR投65million. 他們的目標是買更多房,一旦房產總值達到150million, 就上市。
分析了一下,這REIT的成敗實在是50/50。看來,我們老中又多了一個搶白菜房的競爭對手啦!
Conservative Version |
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Beazer Home-Rental REIT |
Scenario 1 |
Scenario 2 |
Scenario 3 |
Portfolio - Number of Homes |
192 |
500 |
1,000 |
Average Purchase Price Per Home |
104,166.67 |
180,000.00 |
200,000.00 |
Total Market Value |
20,000,001 |
90,000,000 |
200,000,000 |
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Assumptions |
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Rental Revenue Per Home Per Month |
$800 |
$800 |
$800 |
Maintain Costs Per Home Per Month |
150 |
150 |
150 |
RE Tax Per Home Per Month |
350 |
350 |
350 |
Marketing and G&A Per Month |
60,000 |
120,000 |
150,000 |
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Monthly P&L |
Scenario 1 |
Scenario 2 |
Scenario 3 |
Rental Revenue |
153,600 |
400,000 |
800,000 |
Operating Costs |
28,800 |
75,000 |
150,000 |
RE Tax |
67,200 |
175,000 |
350,000 |
Marketing G&A |
60,000 |
120,000 |
150,000 |
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Monthly P&L |
(2,400) |
30,000 |
150,000 |
Annual P&L |
(28,800) |
360,000 |
1,800,000 |
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Investment |
20,000,001 |
90,000,000 |
200,000,000 |
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ROI |
-0.14% |
0.40% |
0.90% |
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Good Economy Version |
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Beazer Home-Rental REIT |
Scenario 1 |
Scenario 2 |
Scenario 3 |
Portfolio - Number of Homes |
192 |
500 |
1,000 |
Average Purchase Price Per Home |
104,166.67 |
180,000.00 |
200,000.00 |
Total Market Value |
20,000,001 |
90,000,000 |
200,000,000 |
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Assumptions |
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Rental Revenue Per Home Per Month |
$1,000 |
$1,200 |
$1,400 |
Maintain Costs Per Home Per Month |
150 |
150 |
150 |
RE Tax Per Home Per Month |
350 |
350 |
350 |
Marketing and G&A Per Month |
60,000 |
120,000 |
150,000 |
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Monthly P&L |
Scenario 1 |
Scenario 2 |
Scenario 3 |
Rental Revenue |
192,000 |
600,000 |
1,400,000 |
Operating Costs |
28,800 |
75,000 |
150,000 |
RE Tax |
67,200 |
175,000 |
350,000 |
Marketing G&A |
60,000 |
120,000 |
150,000 |
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Monthly P&L |
36,000 |
230,000 |
750,000 |
Annual P&L |
432,000 |
2,760,000 |
9,000,000 |
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Investment |
20,000,001 |
90,000,000 |
200,000,000 |
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ROI |
2.16% |
3.07% |
4.50% |
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