Suburban rentals can be tough to make profit margins on for many investors looking at DFW. They'd love to invest in Texas, because our homes are affordable. But, the smart investors come in with a multiple property purchase and buy annually to expand their inventory.
There is no one right answer. It depends on your goals and the budget, and the areas that fit. I've leased homes in Plano, Frisco, Allen, McKinney, Prosper, Little Elm, The Colony, Princeton, and Richardson. There is a viable lease market here. It will stay strong so long as we have tight lending restrictions for buying and the demand for leasing because incoming clients still have homes in other areas to sell before they are free to buy in Texas. We're writing some of the most flexible and interesting lease terms now, to accommodate the tenant's request for month-to-month periods of time at the end of leases, in case they are building homes or sell their home sooner than expected. Converting a home listing from for-sale to for-sale or for-lease is a good way in our suburbs to let market demand dictate which direction the home goes, and the seller may actually be financially better-off with leasing their home for a period of time to accommodate the current demand.
Have a blessed day!