Kousa, LLC was formed in July 2020 as COVID-19 impact accelerated rapidly in the US. The original goal was for the owners to diversify traditional steady income with residential rental properties in pursuit of building long term wealth through equity. With the first rental unit purchased in July, market conditions shifted rapidly.
Individuals and families were fleeing heavily populated areas in favor of the suburbs. Single family homes close to transportation saw a sharp rise in demand, driving inventory down and prices up. In a very short time period, New Jersey home inventory dropped 20% while home values rose 20%. It was a sellers’ market!
With renovations on the first rental property nearly complete after week 10, Kousa management had a tough decision to make – rent? or sell? ANd after considering all of the factors including market forces, ownership expenses, rental management demand, capital reserves and buyer interest, the answer became clear.
The first rental property was now under contract for a full price offer after only 3 months of ownership, at an estimated 40% gross profit.
Kousa, LLC is now searching for the next investment opportunity by evaluating several different local and foreign markets. Manhattan vacancy is up nearly 25% which is leading to a drop in prices for the first time many years. Families with vacation homes abroad are liquidating aggressively to mitigate the impact of a global recession. Do you have an opportunity that could be a good fit for Kousa? Please use the Contact page to get in touch with us!
Kousa, LLC 