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Play Housing Bottom With Small Builders: Pro

The best way to invest in real estate now that housing has bottomed out is in local builders, real estate expert Billy Procida said Tuesday on CNBC.

“If I’m looking to invest in real estate, personally, I’d go with the local builders or the local regional boutique funds,” he said on “Fast Money.” “You’re looking for a more stable investment, I’m more bullish on going with the REITs.”

The president of Procida Funding & Advisors didn’t buy the idea that national home builder stocks were necessarily leading indicators of the sector.

“I never knew how to manage anything outside 100 miles of my office,” he said. “I don’t know where they’re getting the velocity and the volume to justify their stock increase.”

He added, “The national home builders, very hard to evaluate what their true net asset value is, in my opinion.”

Trader disclosure: On Aug. 28, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders: Simon Baker is long AAPL; Simon Baker is long BAC; Simon Baker is long WFC; Simon Baker is long FB; Simon Baker is long SLW; Simon Baker is long TOL; Simon Baker is long P; Simon Baker is long YELP; Steve Weiss is short X; Steve Weiss is short AKS; Steve Weiss is short TCK; Steve Weiss is short JCP; Steve Weiss is short AAPL PUTS; Steve Weiss is short VALE; Steve Weiss is long QCOM; Steve Weiss is long MSFT; Steve Weiss is long HK; Steve Weiss is long BRCM; Steve Weiss is long WLP; Steve Grasso is long AET; Steve Grasso is long ASTM; Steve Grasso is long BA; Steve Grasso is long D; Steve Grasso is long F; Steve Grasso is long FRO; Steve Grasso is long LNG; Steve Grasso is long MHY; Steve Grasso is long MO; Steve Grasso is long NVIV; Steve Grasso is long PFE; Steve Grasso is long S; Steve Grasso is long XLU; Guy Adami is long C; Guy Adami is long GS; Guy Adami is long INTC; Guy Adami is long MSFT; Guy Adami is long AGU; Guy Adami is long NUE; Guy Adami is long BTU; Brian Stutland is long YUM; Brian Stutland is long XLE; Brian Stutland is long XLK; Brian Stutland is long XLB; Brian Stutland is long VZ; Brian Stutland is long VIX; Brian Stutland is long QCOM; Brian Stutland is long PFE; Brian Stutland is long MSFT; Brian Stutland is long BP; Brian Stutland is long AAPL JAN 2013 PUTS; Brian Stutland is long GE; Brian Stutland is long CVX; Brian Stutland is long LLY; Brian Stutland is long JPM.



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