Being outbid on potential flippers DFW
New to BP. I'm an investor in the Dallas-Fort Worth area, mainly flipping right now. Hi!
My ideal property is purchased at 70-80% ARV minus rehab costs. Recently, I can't even get close to that. The last deal I was outbid on went for 75% ARV not counting rehab costs. It needed foundation work and a complete update--floors, appliances, lighting, bathrooms, etc. Inventory here is very low, and I get why competition is fierce. But it seems like people are paying so much, there's very little room for profit. Do I need to adjust my expectations of profit % and start bidding higher?