“Follow the Hipsters” and Other Early Market Indicators

[Andrew Hagmann]

Hi everyone, A few weeks ago I attended a local investors meet up and one of the presenters said something interesting when asked about areas of the city that he thinks will produce strong rental property investments. He said to “follow the hipsters” because the areas they gravitate to tend to become strong markets. I’ve thought about it more the last few days and it seems to be a fairly good indicator from what I can tell. At least in the Minneapolis area. Though I’m sure there are many exceptions. But it got me thinking: What are some other good indicators/trends/things that you look for when analyzing an area for investment properties? I suppose I’m more wondering about neighborhoods that could soon be transitioning from a C or D to an A or B area. Basically, early indications that an area will be profitable in the near future. Cheers! Andrew