Resale (Dallas, Plano, Allen: rental market, houses, buying)

[investdfw]

I want to buy 2 houses in Dallas area as investment properties. Which town has better chances of good resale in 8-10 years? I'm interested in Plano, Allen, Frisco and Murphy.

[mSooner]

I couldn't distinguish between those choices, but why not within the 635 loop? The resale value will be better and you will be able to get higher rent.

[nsumner]

Your price range would dictate the area. I tell you Frisco is a very HOT rental market. Whenever I show lease properties there we have to turn in the applications on the spot as usually there are multiple applications on each home.

Naima

[TurtleCreek80]

Frisco may be a hot rental market, but are property values actually going UP?

OP- the best chance for appreciation happens in centrally located areas where land is scarce. The only suburb that somewhat meets that criteria is Plano. But quite honestly, if you can move south and pick a well-located home in central Richarsdson or northwest Dallas (75220 & 75229, great public schools if zoned to WT White) or Lake Highlands....you'd do even better over time.

[Squirl]

As an investor, my areas are 75220 (east of Marsh) , 75229 and 75061 (only those houses served K-12 by recognized schools). Very easy to rent and sell there.

[elan]

Guaranteed resale in ten years? You need to buy inside the loop (635) in North Dallas. Look around Midway Hills zip 75229.

[LQQKOUT]

What's HOT now might not be HOT in 8-10 years....Frisco is HOT a lot of out of staters populating the area....I am sure it will remain hot for a while as one of "the places to move to" however there is always dark horses out there. If I had a choice to invest I would say Murphy.

[Lakewooder]

Originally Posted by investdfw

I want to buy 2 houses in Dallas area as investment properties. Which town has better chances of good resale in 8-10 years? I'm interested in Plano, Allen, Frisco and Murphy.

Those are far from Dallas. Plano is sort of built-out but in the others you would be competing with builders for resale.

My rec would be Junius Heights in East Dallas 75214.

[HOAPRESIDENT]

Originally Posted by investdfw

I want to buy 2 houses in Dallas area as investment properties. Which town has better chances of good resale in 8-10 years? I'm interested in Plano, Allen, Frisco and Murphy.

None of them. Investing outside Dallas' 635 loop is dicey unless you're building houses and own large swaths of raw farmland. Look south of 635, where there is limited supply of land and high demand for housing -- regardless of when it was built. Since the land under your house is what appreciates in value, the dirt underneath a house in Collin County isn't going to go up in value for quite some time because of the virtually endless supply of land.

Those Collin County suburbs have been popular for corporate transients because they are brand new builds. It's a place where a a house built in the 90's is considered old. Once the shine wears off, you'll be left holding the bag and won't see that much appreciation over time.

People move off to the next shiny new housing development because they're already accustomed to 90 minute commutes. I wouldn't put my money in a house up in Collin County expecting appreciation that outpaces inflation.

I think you're better off with raw land in Collin County in hopes that a builder wants it -- or buying an individual house south of 635.

[mSooner]

You might check out the south end of the M-Streets (Vickery Place, etc.) There are some homes there that are still somewhat affordable and are bound to go up. It is a hot rental market, too. Especially for one bedrooms, if you can score a duplex.