Plano, Texas and Collin County Rental Market

[Laurie Williamson]

Hey guys! Anyone here have SFH rentals in Plano, Texas? Or, in McKinney, Frisco, Allen or Little Elm? I would love to hear about your experience. I live in Plano and want to buy a rental property that's nearby, in Plano or at least in Collin County. I am specifically curious about how quickly you're able to fill vacancies, if you're getting good tenants, and if you're able to get what you're asking for in terms of rent, or if you're having to lower it to get tenants. Also wondering if any one of the cities listed above is a better rental market than another. They all look like they are getting good rent rates per the MLS...just not sure how long they are sitting on the market before being rented.

More info: I am looking for a 3-bedroom, 2-bath home with a 2-car garage, between 1500-2500 square feet, built 1970 or after. Price range between $300-$365,000. I am selling a rental property in Garland, Texas, with similar specs, except it was built in 1956, and I am doing a 1031 exchange. I never had any trouble keeping my Garland rental occupied, so I know that demand there is high. It was also generally profitable... but older properties need a lot of TLC, and after moving to Plano, we don't like driving out there anymore. I am hoping that replacing that house with a newer property that is closer to home will minimize maintenance hassles. Also may have more appreciation over on this side of town. Thankful for any insights!

[Paul Blair]

Hi, We help many investors look into these cities for rentals. As for finding tenants, there has been no issues, plenty of renters have been moving to the area. You can get a market value for the rental, the only reason you'd have to lower your price would be that you are asking too much. All of those cities have good reasons to have SFR, just know cash flow may be limited at first, with appreciation to be really good.

If you need help please reach out. Good luck