What is the target market for rental properties?

[Jonathan Feliciano]

Hello,

So recently, I started learning about creating a target market for your business.

As I was learning, I got curious and asked myself "What would be the target market for a real estate investor who's business is renting out single-family homes?"

It would be incorrect to say that anyone can rent out a home. It needs to be more specific.

Can you share with me your target market: the people most likely to rent out an SFR? Please be specific by including demographics and psychographics.

Looking forward to reading your responses!

[Kenneth Garrett]

@Jonathan Feliciano

I invest in areas around where I live, usually B areas.  I know the area very well and is a great area for flips and rentals.  Before I started, I didn’t look at the typical key indicators people discuss; job growth, rising population, etc.  They are just solid areas and are in the Chicagoland market, but not Chicago.  Those indicators are not really applicable to your typical suburban area.  Who knows the market best, but in your own backyard.

If your investing out of state in a large city then i can understand the need for the research.  To be honest, finding a local who understands the particular market is way more beneficial then any statistics.