First Flip in DFW — Seeking Advice on Buy Boxes, Pricing, and Profits

[Juliette Holm]

Hey BP Community,

I’m gearing up for my first flip in the Dallas–Fort Worth area, and I’d love some guidance from investors who have been active in this market. I’ve been a long-term investor in DFW for about four years, but this will be my first value-add / non–move-in-ready property.

My goal for this project is to either flip and immediately sell or BRRRR, ideally pulling most (or all) of my cash back out while still breaking even on monthly cash flow. I’d love to find a property where both exit options are viable depending on final numbers.

Here’s what I already have in place:

• Team: Realtor, DSCR lender, flip lender, and a GC contractor

• Timeline: Planning to start looking seriously in early December

What I’m Looking for Insight On:

1. Best Purchase Prices to Target for a First Flip

For beginners in DFW, what price ranges have you found to be the most predictable and forgiving?

(Ex: ARVs in the $180–$260K range vs. $250–$350K entry points)

2. Recommended Buy Boxes

For those flipping consistently in DFW:

• What price points and ARV ranges are you targeting right now for beginner-friendly flips?

• Are cosmetic-only flips still viable or do most deals require deeper rehab?

• What rehab budgets or scopes (cosmetic vs. major systems) feel the most predictable in this market? (I am ideally looking for mostly cosmetic if viable)

• Do you prefer newer builds (1980s+) or are 1950s–1970s homes still worth it for flips?

• What property features do you avoid in your buy box (foundation issues, roof, cast iron plumbing, septic, etc.)?

• What spreads do you personally look for between purchase → rehab → ARV?

• What’s your minimum projected profit before you greenlight a deal?

• What’s your expected DOM for common ARV ranges in DFW?

3. Average Profit Margins in DFW

I know this varies widely but I’d love to hear what people are realistically netting:

• What’s a typical profit range for newer flippers?

• Any recent examples you're open to sharing (purchase / rehab / ARV / net)?

• Best and worst outcomes you’ve seen?

4. Best Areas for New Flippers

Which DFW submarkets have:

• Reliable comps for this type of investing 

• Strong buyer demand

• Manageable rehab scope

• Less competition from institutional buyers

Examples: Dallas proper, Plano, Arlington, Mesquite, Garland, West Fort Worth, - I’m open to all feedback.

Also: any submarkets to avoid for a first timer?

5. Additional Advice for a First-Time Flipper / BRRR Hybrid

Anything you wish you had known before your first value-add project?

• Red flags when evaluating a house or contractor

• What kills deals most often

• Tips for keeping holding costs under control

• Things you wish you had budgeted more (or less) for

Appreciate any insight, war stories, numbers, or guidance you’re willing to share. Thanks in advance!

[Bruce Lynn]

Sorry...way way too many questions for me.

Every situation different.

Probably not enough spread in most cosmetic flips....probably need the full meal deal.

Also that cuts out much of your competition if you can handle more.

Older and cheaper probably better depending on where you buy.

Be ready to act quick, be conservative on your ARV and plan on about double whatever you think your time on market will be. LOTS of experienced flippers busting their hard money loans, so that will kill your profits quickly if you pay another origination fee and all your holding costs.