Millennials are taking over!

[Adam Smith]

I am a "Millennial" looking to invest in rental real estate and every time I talk to someone my age about my real estate investing goals they look at me like I'm insane! So that got me thinking, for a lot of Mellennials buying a home is a distant dream. SO...... what does that mean for us investors...... it time to capitalize! What is it that Millennials look for when choosing a place to rent, because lets be honest they're not buying. What are the must haves and what can they do without? What cities are they leaving and what cities are they entering? I have my thoughts on these things but I want to see what everyone else thinks

[Marc Winter]

As the father of two beautiful Millennial daughters, I can relate.  I offered each of them their own single family house, free and clear to live in, here in NEPA.  Answer:  "No thanks, Dad."

They choose to live in Brooklyn, NYC.  One is an artist, the other a graphic designer in on-line advertising.  One lives in Williamsburg, a Millennial 'ghetto', and pays $2500/mo for a ONE BEDROOM APARTMENT!  Plus utilities.

It is THE most trendy area--small bistro restaurants, craft beer bars, used clothing 'boutiques', and 1 block walk to the subway.

The other lives in 'up and coming' Bed/Sty.  That's Bedford Stuyvesant for those outside the city.  Used to be (and in some blocks still is) a run-down, drug infested mess.

But there are signs of life, too--REAL art wall murals have replaced the typical gang graffiti; specialty coffee shops open next to bodegas, art galleries opening, and blocks and blocks of beautiful brownstone buildings. 

Rents there are lower; but in these areas my daughter and her friends choose to rent a large apartment and all live there, each has a room, and/or a roomie.