Bloomberg sheds some light on investing in low-income rental properties, which is becoming popular with big companies — including Google. Google’s invested about $85 million this year in in low-income rental housing. The Bloomberg report says that over time there’s a nice net return on investments thanks to federal credits on investing in low-income housing – maybe as much as a 10% return. That’s way better than bonds!
“The surprise isn’t that Google invested,” said David Smith, chairman of Recap Real Estate Advisors, a Boston-based firm that focuses on multifamily properties. “The surprise would be if anyone in the Fortune 100 with reliable earnings is not investing in this environment.”
(Photo: renjith krishnan)