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Old 05-27-2015, 05:31 PM
 
2 posts, read 3,403 times
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Was planning to buy a rental property in Little Elm under 250K.

Will be great if you can advise me on areas in Little Elm that are easy to rent out. Does it make sense to buy in Frisco ISD area. Also, would it be easy to rent the house out - or is it a safer bet to buy in Plano.

Per square feet prices in Little Elm looks better than Plano - hence the attraction.
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Old 05-27-2015, 05:45 PM
 
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Quote:
Originally Posted by manoj7698 View Post
Was planning to buy a rental property in Little Elm under 250K.

Will be great if you can advise me on areas in Little Elm that are easy to rent out. Does it make sense to buy in Frisco ISD area. Also, would it be easy to rent the house out - or is it a safer bet to buy in Plano.

Per square feet prices in Little Elm looks better than Plano - hence the attraction.
Do your due diligence. The price per foot to BUY may be better in Little Elm, but I bet the price/foot rental rates favor Plano significanfly. Which property would generate the most cash flow? Which is projected to appreciate more- remember that rental property is not exempt from tax increase caps like your homestead property is so CCAD can raise your taxable value by 40% if the market supports the valuation....that can really eat in to your cash flow.
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Old 05-27-2015, 09:03 PM
 
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I agree. Little Elm seems far away compared to Plano. Also with all these companies moving in Plano, it seems like there will be a lot of demand for rental properties in the Plano area.
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Old 05-27-2015, 11:04 PM
 
Location: Mostly in my head
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The Little Elm ISD is pretty bad. Stick to the Frisco ISD part. There are several rental houses in my neighborhood, don't seem to be empty long. But Plano would be a better bet.
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Old 05-27-2015, 11:10 PM
 
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Thanks to all of you for the insightful replies.

The houses in Plano seem to go at a square foot rate of $130 - $140. The rates for Little Elm houses in Frisco ISD area seem to be closer to $105.

For a 2 BR/3 BR house, the rents are nearly identical and around $1600 per Trulia data.

So if there is a good chance that I can rent out fast in Little Elm the return might be higher?

Of course, over a 5 year window, Plano houses might have higher capital appreciation - but I am hoping to take a 10 to 15 year benefit view.

SouthernBelleInUtah - would you mind giving a rough indication of the area where you see rental houses getting leased out fast please.
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Old 05-27-2015, 11:29 PM
 
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After owning a home in Little Elm, I don't think you could make much money from going rental rates. Though, it has been almost 3 years since I lived there.
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Old 05-28-2015, 08:10 AM
 
Location: DFW
40,919 posts, read 48,852,711 times
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OP, good luck finding a decent home in Plano or Frisco under $250k for a rental.
You will pay a premium if you can beat out the other 10 offers that come in on the house.

Your only option might be a Little Elm house.
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Old 05-28-2015, 08:43 AM
 
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On paper, Plano East houses look like a better bet, prices are lower then West, location is good, schools are good and area is on up swing with new construction. Renting it out would be easier then places with longer commute.
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Old 05-28-2015, 06:08 PM
 
Location: Mostly in my head
19,855 posts, read 65,595,574 times
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Sunset Pointe.
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Old 05-28-2015, 07:44 PM
 
Location: Funky town
953 posts, read 1,820,716 times
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The house prices in collin county is on the upswing and some might argue overpriced. House prices seldom reflect hard asset value but more of what people are willing to pay. If you are looking for 2000 and up then it will be hard to get one in plano and frisco area. Keller may be a good choice too...
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