Kinloch Partners, LLC, Enters Greenville/Spartanburg Market With 20-Home, $4 Million Purchase; Unique Rent-to-Own Strategy to Create Ownership Opportunities
GREENVILLE, S.C., Sept. 18, 2017/PRNewswire/ — Kinloch Partners, LLC, today announced it will purchase 20 homes for nearly $4 million in five Greenville/Spartanburgcommunities. Kinloch Partners, which has a successful track record for real estate investment in Atlantaand Nashville, will initially offer the homes for rent, but will work with renters to ultimately purchase the homes.
The rent-to-own strategy is part of Kinloch Partners’ mission to help more people realize the American Dream of home ownership. Kinloch’s strategy is to buy brand-new houses, lease them to qualified applicants and then sell them to these tenets using a proprietary rent to own strategy. The company is purchasing homes built in 2016 and 2017 in Boiling Springs, Greenville, Simpsonville, Lyman and Duncan.
“Flat wages combined with escalating real estate prices have made home ownership more difficult today,” said Bruce McNeilage, Kinloch Partners co-founder. “Our goal is to help create more stable communities by creating a path for home ownership. Greenville/Spartanburg is an up-and-coming real estate market and we look forward to investing in and strengthening these communities.”
Kinloch Partners, LLC, currently is implementing its rent-to-own strategy with 65 homes in Dallas, Ga., Murfreesboro, Tenn., and Spring Hill, Tenn. The company has purchased, renovated and re-sold more than 400 single-family homes in greater Atlanta, creating ownership opportunities for individual families and investment opportunities for individuals and real estate hedge funds. McNeilage also recently sold his interest Solo East, a 121-unit development with affordable condos that recently sold out in East Nashville.
“Home ownership is one of the cornerstones of the American economy and our rent-to-own strategy is helping more people realize this dream,” McNeilage said. “We have been very successful deploying this strategy in the Southeast and are excited to help more people in South Carolina realize this dream as well.”
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SOURCE Kinloch Partners, LLC