Alternative investment: US hedge funds look to short side
These tend to encompass managers that act as banks, providing bridge or start-up loans to property developers. Reynolds Opportunity Partners is even deeper in its niche. Tony Reynolds was originally a homebuilder in Ohio and has recently established a hedge fund that develops property earmarked for senior citizens that are entitled to reverse mortgages from the US government.
US citizens over the age of 62 with equity in their homes are entitled to reverse mortgages of up to 70% of the value of the house.
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