Power of the majority
With every unit he purchases, Wright gains more voting power within the community, such as with the homeowners association. Wright says he's done nothing wrong.
"I have nothing to hide down here," Wright said. "Some people don't like the big landlord or whatever like that. I have a business plan. I'm trying to prove myself."
Some unit owners claim Wright isn't offering them enough for their units, but he insists they're being offered fair market value. Wright has little sympathy for other owners who feel pushed around.
"There's certain rules and regulations and sometimes they're in favor of the little guy, sometimes they're in favor of the big guy," he said. "If they don't like the rules, it's a free country, they can move somewhere else, they could buy more units, they could band together, they could do a lot of things."
When an investor buys up large portions of housing in an area, it can reshape the local housing market. The last few individual owners at Bonanza Park are willing to fight to keep their homes, but they're simply outnumbered.
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Learn MoreAn increasingly competitive housing market
When companies buy up homes as investments, it makes it harder for regular folk to enter the housing market. There are some strategies, however, you can implement to make yourself more competitive during the homebuying process.
Offer a larger down payment
A higher down payment shows buyers you're serious and can make your offer more attractive, especially in markets where cash offers are common. As a bonus, a higher down payment can mean a lower monthly mortgage payment.
Consider less competitive areas
Don't be afraid to look outside of your ideal location. Expanding your search to up-and-coming neighborhoods can improve your odds of finding a home that fits your situation. It may also save you a considerable amount of money.
Be more flexible with features
Make a priority list of what you must have — and what you're willing to forgo. Don't forget that you may be able to add the features you want at a later time. For example, if you need an office, consider whether the garage or basement could work, or whether an addition is an option.
Stay engaged with your HOA
If you're buying a condo or entering a housing community, stay informed about HOA changes. Attending meetings and letting your voice be heard may lead to positive changes. The alternative is allowing others to make decisions without your input.
Large investors will likely continue to reshape the housing market, making it more difficult for single buyers to buy a home. But being financially prepared, flexible and staying informed can improve your chances of finding a place you can truly call home.
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