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Updated about 8 years ago,

User Stats

352
Posts
543
Votes
Joe Kim
  • Rental Property Investor
  • SF Bay Area, CA
543
Votes |
352
Posts

New construction community- what percent owner occupied?

Joe Kim
  • Rental Property Investor
  • SF Bay Area, CA
Posted

I'm interested in buying a new construction in a community that is now pretty much finished.  NO more lots left.  this is in the Atlanta region.

My concern is this:  when too many investors buy homes in the same community, there are many more renters than owner-occupied.   I'm looking for 10% renter and 90% owner occupied to be optimal but anything less than 20%.  

The reason is that during a downturn, many of the landlords will be competing for same tenant pool which will decrease rents.  Also, more importantly, when distress landlords sell their property, they may sell it for cheap or multiple landlords trying to sell their rentals around the same time.    I think home owners are less likely to be in tune with the market and selling their home only when they need to and have nothing to do with the timing of the market.

So here is my QUESTION?

Besides asking the builder (do you have any restrictions on percentage of investors buying property here).

How do you data mine the community to find how many or what percentage of the community is owner occupied and which ones are not.    Going to county records and looking at each and every property seems to be an extremely tedious process.   Is there some EASY/FAST way to do this?

New construction are usually priced higher than existing homes and so the risk is higher investing in communities that are not ready for downturn in the economy.

thanks for any insights.