Short Term rental market near Arlington in DFW

18 Replies

Hey BP! Does anyone have experience in DFW with short term/vacation rentals, particularly in the Arlington area near Six Flags, UTA, and ATT Stadium? Also, appreciate any advice on what STR laws are required to list a property in DFW, and vacancy rates! Thanks!

Reverend @Lucas Carl knows.  He answers this a lot of the time.  I answer whenever I'm not banned by Bigger Pockets.

@Paul Sandhu LOL @Rita Lo sorry I don’t know anything about DFW but if you do buy and decide to self manage I’d be happy to teach you. Just google “AirBnB Dallas” and hit the news button and see if it’s scary and go from there. 

@Rita Lo Arlington is considering regulating STR, from what I understand they're contemplating whether or not you can have a non owner occupied STR at all. I've heard the decision could be made at any time but the discussion has been going on for quite some time now. A lot of other areas around DFW are STR friendly though.

@Scott Schober Interesting - I am definitely going to look more into this. Do you know the rationale behind this proposed decision? Also, for current STR rentals on the market, are they profitable? Simply want to evaluate if the risk is even worth it before getting bogged down by the legislation. Thanks!

@Myka Artis has short term rentals in the Arlington area. He also hosts monthly Airbnb meetups that discuss information related to the questions you've asked. Below is a link to the next meetup. Might be a great place to start.

https://www.biggerpockets.com/forums/521/topics/621924-arlington-short-term-housing-meetup?highlight_post=3709209&page=1#p3709209

@Dominique Taylor r Thanks for the tag. @Rita Lo Arlington is a great area for STR's but they have been discussing pushing limits on STR's here but the state of Texas constitution protects home owners property rights basically stating you can do whatever you want with property that you own. If you are looking for something near the stadium its mainly condos which have HOA's and aren't STR friendly at all and homes in the historic district. If you can snag a home in the historic district it can make some real money for you. I personally wouldn't suggest buying in the DFW area though if you are looking to do STR's. The market is insanely crazy and you're going to overpay. I'd consider arbitraging until this market settles down a bit. As Dominique stated we have meetups in Arlington on short term rentals every month.

@Myka Artis Thanks! This is incredibly valuable information. I’ve been largely focused on SFHs, but will definitely look into duplexes. What is a good price range to consider for those in this market? And to clarify: is the old town district the area Randal Mill, Center, and North Streets? Also in your opinion, if not DFW, what are some good markets for STRs? Appreciate it!

@Rita Lo In Arlington you can find duplexes between 150k - 230k but they go fast. Cash buyers usually get them pretty quickly. Yes those streets you named are considered historic district. Randol Mill runs from the entertainment district to historic district. 

If I were to look for something outside of the DFW area I would look anywhere with a booming economy that is driving people to move there. The first thing I would check in any market are the STR laws though. If I were to buy now I personally would buy in Odessa, TX and see if I can get a contract with one of those oil companies for corporate renters.

Originally posted by @Gerardine Tshouongang :

@Myka Artis duplexes are really difficult to find in the DFW area though 😣

Yes, this is true. If you want multifamily you definitely gotta go on the outskirts unless you're willing to pay 20-30K over the asking price in the city. Frisco/Prosper area is a great play for short-term rentals. Frisco already has ordinances in place so it's an open market.

Originally posted by @Myka Artis :
Originally posted by @Gerardine Tshouongang:

@Myka Artis duplexes are really difficult to find in the DFW area though 😣

Yes, this is true. If you want multifamily you definitely gotta go on the outskirts unless you're willing to pay 20-30K over the asking price in the city. Frisco/Prosper area is a great play for short-term rentals. Frisco already has ordinances in place so it's an open market.