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Updated 11 months ago,
Location, location, location for my rental
Hey BP family,
In the process of putting in offers for a SFH, with a primary residence loan. Will be my first ever home here in Dallas Fort Worth, but I've lived here all my life and feel that it's my competitive advantage knowing the ins and outs of a majority of the metroplex. My plan is to buy the home, live in it for a year, before renting it out. Standard 3/2, 1750-2,250 square feet.
I came across a website called Niche.com, and it tells you a little bit more about the demographics of an area, and one thing specifically it told me was about the percentage of people who rent/own in that zip code. This may be a really naive question, but it got me thinking, is it more attractive to a rent a home in an area where most of the surrounding area owns? Or via versa?
Does it even matter at all? I saw a zip code where almost 85% of people (assuming the data was correct), owned their home and I just wondered if having a rental property in that neighborhood is a good idea.
Thanks for any help on this!