Updated over 2 years ago on . Most recent reply
Inquiry about MTRs
I have saved $95,000 cash.What markets is best for Mid term rentals now in the USA?? I am thinking of Houston to start.
what kind of property is best for MTRs, condos, House,Duplex or Apartments??
thanks..
Most Popular Reply
#2 Real Estate Agent Contributor
- Real Estate Broker
- Coppell, TX
@Ab Okoeguale #1 Don't buy condos in most cases. There have only been about 5 places in DFW area where the numbers work for rentals....but there are a ton of other issues using them for rentals. Often decent or even great places to live, but not for rental.
Even if they don't prohibit STR today, there's probably a good chance they will if you try.
MTR probably more acceptable in most places if it is addressed in the HOA CC&R. Still there can be plenty of issues, so I would normally advise against it. Same with townhomes.
Get a house to avoid a host of issues....and probably better long term appreciation.
This may be different in other areas of the country, but for sure in DFW. One issue is HOA dues and special assessments often just kill your returns.