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How many other homes are Non-Owner Occupied? Know this number before purchasing a rental property in any neighborhood

Are you thinking about buying a rental property? Make sure you ask your agent how many other non-owner
occupied properties are in the area first! Why is this so important to know?

If an area has more non-owner occupied than owner occupied properties, it can actually affect the value of your
property when it comes time for resale. Go look at neighborhoods that have more rentals than owner occupied
homes and you will see a major difference.

When I look for a property to lease option, the first thing I look at is the neighborhood and how many non-
owner occupied homes there are. This can affect, not only me, but my end buyers as well. Since I believe in
making all my sales a win-win for everyone involved, this is important to me and I do pass this information on
to my buyers.

So if this is an answer that your agent can't give you, and you are looking to purchase investment properties, it
may be time to look for a new agent! For more information on investing in real estate, feel free to contact me
anytime via e-mail or by phone.

Todd Clark - broker
Kastings & Associates
Phone: (503)524-9494
Fax: (503)622-8738
Todd@IFoundYourNewHome.com
http://www.ifoundyournewhome.com/

Posted by Todd Clark (Realtor), GRI (Washington Co, Beaverton Oregon) on 09/15/2007 01:49 AM

Comments (6)

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6 Comments on How many other homes are Non-Owner Occupied? Know this number before purchasing a rental property in any neighborhood

This is solid advice.

09/15/2007 02:15 AM

by Levi Stearns (Keller Williams Realty e2pllc)

Todd an area with more owner occupied homes may be nicer because of the home owners in the area but don't forget to look at revitalising areas where owner occupied is increasing.

09/15/2007 06:54 AM

by James Gordon REALTOR® PBD SRS (Sibcy Cline Realtors®)

Great point Todd. We see this issue a lot in Condo building as well. Plus in condos if there is less than 50% owner-occupied; many lenders won't do the loan.

09/15/2007 08:06 AM

by James Downing - REALTOR® - Washington DC Real Estate (Coldwell Banker Residential Brokerage)

Now, see? When they ask "How's the neighborhood?" this is what they're talkin' about!

09/15/2007 10:28 AM

by Patricia Kennedy (Evers & Company)

So true Todd, something I always do for my investors. Great advice!

09/15/2007 11:27 AM

by Mary Warren, Las Vegas Real Estate (Keller Williams Southern Nevada)

Levi - Thank you...Let's just home some investors listen before losing their shirts

James - Solid advice!

James - I'm in condo conversion project myself right now and that is one of the problems we are running into. Lucky we have a lender that has been willing to back us.

Patricia - I doubt that is what they are talking about! - lol

Mary - I knew of all people you would go that extra step for your clients. That is why you have been in the business for so many years...You do go that extra mile.

09/16/2007 12:39 AM

by Todd Clark (Realtor), GRI (Washington Co, Beaverton Oregon) (Kastings & Associates, Beaverton Oregon Real Estate)

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