It’s said that the reason bank robbers rob banks is because that’s where the money is. It’s also known that if you want to invest in property where there are lots of renters, you need to go where the renters are.

It makes a lot of sense because your unit should be rented most of the time and in an area where it doesn’t take long to find new tenants when your renters decide to move on at the end of their lease. So where do you find all these renters?

Those who rent have typically to buy their first home. They’re often younger because they’re in school or just graduated and have yet to get their finances in order to be able to finance a home. That said, you can always find renters near a college campus.

Most campuses have their own housing and some schools require their students to live in university housing while others do not. Either way, at some point the young scholars want a place of their own. College and university towns are full of rental housing ranging from single family homes to duplexes to 2-4 unit properties as well as apartment buildings.

You can also find an abundance of rental properties near major shopping areas. Retail employees typically occupy most of the rental homes surrounding a shopping mall or retail district. Many like to not only live close to reduce commuting time but also have the ability to walk to work should they so choose. Urban areas with public transportation stations are also an ideal place to invest in rental properties so look for investment property near rail or bus stations.

 Once you get involved in a particular area, you’ll have a better understanding of the real estate market for that neighborhood, knowing current property values and market rents better than any other real estate investor.