REVEN HOUSING REIT, INC. (NASDAQ:RVEN) Files An 8-K Entry into a Material Definitive Agreement

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REVEN HOUSING REIT, INC. (NASDAQ:RVEN) Files An 8-K Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement.

Birmingham 72 Purchase and Sale Agreement

On December 9, 2016, Reven Housing REIT, Inc. (the Company)
entered into a Single Family Homes Real Estate Purchase and Sale
Agreement (the Birmingham 72 Agreement) with Easy Rentals, LLC,
an Alabama limited liability company (Easy Rentals), as amended
on February 17, 2017 and on March 1, 2017, for the Companys
purchase of a portfolio of up to 72 single-family homes located
in the Birmingham, Alabama, metropolitan area from Easy Rentals.
The Birmingham 72 Agreement was filed as an exhibit to the
Companys Current Report on Form 8-K filed with the SEC on
December 9, 2016.

On March 31, 2017, the Company and Easy Rentals entered into a
Third Amendment to the Birmingham 72 Agreement, to which the
parties amended the Birmingham 72 Agreement to reduce the maximum
number homes subject to purchase by the Company to 69 and to
provide for an holdback and escrow of $250,000 of the purchase
price for purposes of the Company with limited indemnification
against any vacancies or loss of rental income due to cutbacks in
the funding for Section 8 housing programs in the Birmingham area
for the two year period following closing.

The foregoing description of the amendment to the Birmingham 72
Agreement is qualified in its entirety by reference to the full
text of the Third Amendment, which is attached hereto as Exhibit
10.1.

Item 2.01 Completion of Acquisition or Disposition of
Assets.

Memphis 27 Purchase and Sale Agreement

On February 16, 2017, the Company entered into a Single Family
Homes Real Estate Purchase and Sale Agreement (the Memphis
Agreement) with HJProperties, LLC, a Tennessee limited liability
company (the Seller), for the Companys purchase of a portfolio of
up to 27 single-family homes located in the Memphis, Tennessee,
metropolitan area from the Seller. On March 31, 2017, the Company
closed on the purchase of 20 homes in the portfolio. The Seller
is unaffiliated with the Company.

The contract purchase price for the 20 acquired properties was
approximately $1,584,000, exclusive of closing costs. The Company
funded 100% of the purchase with cash on hand. The acquired
properties average 1,657 square feet and are mostly
three-bedroom, two bath homes. Of the acquired properties, ten
are currently subject to two-year leases, five are subject to
one-year leases, and five are subject to month-to-month leases.
The Company intends to acquire up to six additional homes in the
portfolio to the Memphis Agreement for the purchase price of
$486,000 once those homes are leased.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

The following exhibits are filed with this report:

10.1 Third Amendment dated March 31, 2017 to Single Family Homes
Real Estate Purchase and Sale Agreement (Birmingham 72) dated
December 9, 2016.


About REVEN HOUSING REIT, INC. (NASDAQ:RVEN)

Reven Housing REIT, Inc. is a holding company. The Company is an internally managed real estate investment trust. It is engaged in the acquisition, ownership and operation of portfolios of leased single family homes in the United States. Its objective is to generate cash flow and distribute resulting profits to its stockholders in the form of distributions, while gaining home price appreciation at the same time through the ownership of its portfolio properties. It operates its portfolio properties as single family rentals (SFRs), and generates its revenue from rental income from the existing tenants of the SFRs. As of December 31, 2015, it owned a total of 527 homes, of which 256 homes were in the Jacksonville, Florida metropolitan area; 168 homes were in the Houston, Texas metropolitan area; 94 homes were in the Memphis, Tennessee metropolitan area (with two of the Memphis homes located across the border in Mississippi), and nine homes were in the Atlanta, Georgia metropolitan area.

REVEN HOUSING REIT, INC. (NASDAQ:RVEN) Recent Trading Information

REVEN HOUSING REIT, INC. (NASDAQ:RVEN) closed its last trading session 00.00 at 5.96 with 200 shares trading hands.