Peter Lohmann's Newsletter - Issue #175

Huge SFR merger. Executive order attempts to ban large investors from buying houses.

Author

Peter Lohmann
January 23, 2026

A no-fluff weekly publication for the property management industry.

Pure and HomeRiver Group to Merge

Big news in our world—two of the largest SFR property management companies are set to merge. Read the full press release here.

The combined entity will manage 40k doors across 35 states. In April of last year, HomeRiver Group reported 23k doors under management to me as part of the 20 Largest PM Companies report. The year before, Pure reported 25k doors (they didn’t submit data for ‘25).

The new company name is “PURE HomeRiver”, and the new leadership is:

  • Joseph Polverari, Co-founder and CEO of PURE HomeRiver (formerly Co-founder and General Partner at Pure)

  • John Hirschfeld, Co‑Founder and Chairman (formerly Chairman and Co-Fonder at HRG)

  • Mike Catalano, Co‑founder, President, and COO (formerly General Partner and Co-Founder at Pure)

  • Doug Dale, Co-founder, Chief Real Estate Investment Officer, and Head of Institutional (formerly Executive VP and Co-founder at HRG)

As part of the merger, they raised $80M in growth capital from PGIM.

More coverage from Lance Lambert over at ResiClub.

THIS ISSUE IS PRESENTED BY RENTVINE

Growth exposes weak software.

Adding doors should increase revenue, not headaches. But for many property managers, growth triggers higher fees, locked features, messy accounting, and workflows that fall apart under pressure.

Rentvine is designed for scale:

  • Add doors without unlocking higher plans

  • Automate more without duct-taping tools together

  • Keep clean, transparent accounting as complexity increases

  • Stay flexible with an open platform built for integrations and AI

Real growth should feel controlled, not exhausting. Rentvine gives you the flexibility to scale with confidence.

Winter Sale: Get 3 months free plus AirPods when you book a demo and sign by January 31.

How Brad Johnson Accidentally Became Everyone’s Favorite CEO

Brad Johnson and I have been arguing on LinkedIn for years, so it was only a matter of time before I got him on the podcast.

Before he was CEO of ProfitCoach, Brad ran Sweyer Property Management as a non-owner GM, increasing margins from 20% to 37%. No equity. No PM background. Just aligned incentives and a lot of discipline.

We talk about how that worked, why most owners struggle to step away, and what it actually takes to find someone who’ll run your company like it’s theirs. If you like learning about leadership, succession, or how to finally get out of the weeds, you’ll like this one. (Sponsored by Rentvine & Crane).

(Available on Apple Podcasts or Spotify)

Property Management Companies For Sale This Week

I’ve shouted out Property Management University a few times now. Why? Because some PMs are still relying on an old PDF or clunky AI doc for compliance. On-demand courses, live sessions, and legit instructors = PM training that (finally) makes sense.

Industry News & Events

  • Trump issues executive orders related to institutional ownership of SFR. Great commentary and analysis from Jay Parsons.

  • RentScale is hosting a “Level Up Your Sales Skills in 2026” webinar for owners and BDMs early next month. They always have outstanding original content.

  • Uncertainty around lead-based paint rules for property managers continues. The latest here from NAR. 1978 was nearly 50 years ago. How long will lead paint be an issue in our buildings? 100 years? Will we still be handing out pamphlets in the year 2126 about a product last manufactured in 1978?

  • RentEngine’s Q4 Leasing Report is coming out shortly. Get access here.

Closing Thought

A few quick things before you go…

  • Last week’s issue went to 20,591 readers (77.4% opened, 4.2% clicked)

  • The most popular link was the My Move-Out Process Talk Slides from the PM Systems Conference (396 clicks)

  • Interested in sponsoring this newsletter? Q1 slots are full for the Friday Newsletter, but we just launched a Tuesday Edition with more availability.  Message me for details.

  • Property managers: Your professional trade association is NARPM. You need to join if you’re not already a member.

  • Did someone forward you this email? Subscribe here.

PeterBot

Chat with PeterBot, my AI clone (try the audio). It’s trained on almost everything I’ve ever written or said, and can help you talk through your most challenging PM questions and problems. Give it a try and let me know what you think!

Over 100 property managers have used this in the last couple months(!) Many are returning weekly to ask me their hardest property management questions.

Software I’m using to scale my 700+ door property management company:

Note: These are affiliate links, but I’ve been recommending all these companies long before any financial arrangements came into place.

The content of this newsletter is for informational purposes only and does not constitute professional advice. I may have consulting agreements with, or financial interests in, companies mentioned in this newsletter. Additionally, some of the links included in this newsletter are affiliate links, meaning I may earn a commission if you make a purchase through these links. Always perform your own due diligence before making any financial or business decisions.