How easy is to get a 5-bedroom home rented in east Plano?

[Aman S.]

Hello All!

I have recently started educating myself in the real estate field. Enjoying it thus far! Had a quick question and figured I would get some thoughts from the BP friends. I know that the preferred rental property is 3 bedroom/2 bathroom type house. That said, what are the chances of getting a larger house rented - around 3,500 sq. ft., 5 bedroom, 4 bathrooms on the east side of Plano. Also, do you guys have any recommendations for a good broker/agent who is an investor himself/herself? Thanks in advance for your input.

Aman

[Brandon Richards]

The problem you run into with bigger homes, is generally they are more expensive which then leads to the owner needing to rent them out for more money. A 1,600sqft home leased at $1600($1sf) whereas a 3,500sqft may only rent at $2,450($.70sqft). They wont rent out at the 1% rule generally. Now, $2,450 may cover your mortgage, but is it giving you a desirable return or are you breaking even? Depends on your goals with this property. Let me know if I can help.