What factor has had the most successful impact on buying a rental

[James Nix]

Hey everyone, I know this question can be state or city specific but coming from someone who never did a deal before that is studying my market to find an edge I would like to know what has brought you guys or girls the most success with buying a rental property for the long term from a variable stand point like a location with either a good school nearby or a low crime area or a high population growth from millenials? Basically from the three options which would you look for first

[Gary Swank]

@James Nix There are several schools of thought on this subject. Better school areas usually attract both renters and home buyers. Lower crime rates attract everyone, but in recent years I have noticed that the single thing that stands out more than others, is a young vibrant renewal of city neighborhoods here in Pittsburgh PA. And I'm sure this can be found in Philly too. Look for areas with revitalization including business growth that have the amenities many millennials and others are looking for such as cool hangouts, modern housing, a vibrant nightlife, parks and city trails for outdoor activities combined with a strong economic growth. 

Here in Pittsburgh new investments by Google, Apple, Facebook and Autodesk is a true testament to the growing infrastructure here. And many of these firms are hiring talent of all ages certainly, but in the area of robotics, sciences and other technology fields, a lot of  young urban professionals are coming from CMU and need places to live close to these businesses. Reach out to people in the city you are considering for advice on buying into, including what areas of the city are more inclined to generate positive income. Whatever market you choose, look for those that know that market well and reach out to them. I wish you much success....Gary