Build-to-Rent: Long-Term Wealth or Overheated Trend?

[Robert Ellis]

Over the last few years, institutional money has poured into Build-to-Rent (BTR) communities—purpose-built single-family or multifamily homes held as long-term rentals. I’m seeing this shift not just in hot Sunbelt markets, but also in overlooked Midwest metros where land is cheap and zoning is flexible.

Here’s what I’m wondering—and hoping to learn from others in this space:

• Are you building specifically for rental yield vs resale comps?

• How are you structuring your capital stack—private equity, debt funds, JV partners?

• What are your go-to markets for BTR and why?

• What operational challenges (tenant quality, maintenance, leasing velocity) are you seeing at scale?

I’d love to hear from both experienced developers and investors dipping their toes in. Let’s connect and share notes—maybe even collaborate.