An executive with Google said the technology company was attracted to affordable housing in part because the projects seldom encounter financial difficulties and almost never result in a default.
â€œWe want to be responsible corporate citizens, and thatâ€™s what drove us to invest, but the returns are also quite good considering the risk,â€™â€™ said Axel Martinez, an assistant treasurer for Google. â€œCharlesview is one of the places where we were able to add value, when in the past projects like that wouldnâ€™t have gotten done.â€™â€™
So, good for Google, and good for investors. Buyers really need to start paying more attention to market for multi-family homes right now. A quick look around Boston will show hundreds of 3-6 family houses that are ready to be bought and rented to yield a nice, steady profit. Google is not in business to give money away, pay attention.