Invest in rental upgrades with a Washington hard money loan
Young adults have a reputation for being free spirited drifters. But according to research, millennials are moving with much less frequency than past generations.
When they do make a move, urban areas tend to be a popular draw for 20 to 34–year–olds, and Seattle makes the top ten list of most popular US metro move-to destinations for millennials.
Wise real estate investors are taking note. Millennials are less likely to own a home, so it makes sense to target rentals to a potential market estimated at 80 million people.
Thinking of getting into the millennial rental market? It pays to be informed:
Who is the millennial tenant?
- Your potential tenant is tech savvy, often well paid. A third are self–employed.
- Many are choosing to delay marriage and families, but are looking to stay in one spot.
- Global awareness is a commonly shared concern.
- Student loans can make down payment requirements complex.
What do millennials want in a rental?
- Strong WiFi
- Sustainability features
- Pet friendly environment
- Well–equipped kitchen for eating in
- Open space for entertaining
- Safety and security
What do millennials want in a landlord?
- Online presence, from contact and listing info to rental application to payment options
- Mobile communication
Upgrade your Washington State rental with a hard money loan
Properties that offer the amenities millennials are looking for increase the chances of attracting – and keeping – a significant percentage of today’s rental market. If you need fast cash for upgrades to your rental property, talk to us about a hard money loan from Gregory M. Russell. We’ve helped provide financing to Washington real estate investors for over 30 years. Give us a call at 1-888-477-0444 to learn more.