But this likely isnt the last weve heard of the issue. The proposed bylaw was an effort to crack down on landlords with derelict units, particularly around Mohawk College and McMaster University. It would have seen landlords of buildings with six or fewer units about one-third of Hamilton apartments – pay $100 per year per unit for a license saying it abided by city regulations. Councillors opted not to do that Wednesday, instead ratifying last weeks decision by the planning committee to beef up an existing program. But the notion of a bylaw is only deferred, not dead, said Coun. Brian McHattie of Ward 1.
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Unconventional Play on Rental Properties
Instead of competing in one-off auctions, the traditional method of acquiring homes and the one preferred by Silver Bay Realty Trust (NYSE: SBY ) (NYSE: SBY ) (NYSE: SBY ) and American Homes 4 Rent (NYSE: internet AMH ) (NYSE: AMH ) (NYSE: AMH ) , the company is obtaining non-performing loans in pools that include thousands of loans. The ultimate outcome of these different models is unknown, but the market hasso far supported Altisource Residential. Acquisition strategy The company has a stated goal of acquiring loans that will lead to 5,000 rental properties in the first year. Back in the second-quarter earnings report , the company listed NPL acquisitions that will total approximately 4,100 loans representing $820 million in unpaid principal balance, or UPB, and $625 million in underlying property value. In most cases, the company is paying an amount that is less than the property values — providing huge potential value assuming the property can be quickly turned into a productive asset.
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