Investor · Dallas, TX · Member since 2021 · 6 posts · 12 votes
I have been looking almost everyday on the MLS, Craigslist, FB Marketplace, and some wholesaler's lists and can't come across a property where the numbers make sense. Most of the time, the asking is too high, ARV is inflated, or requires full rehab that would makes it too risky if things doesn't work out ($50k+ in rehab).
Can't imagine doing all this work to find just 1 deal. How do you guys find good BRRR deals? is it easier in certain markets (midwest for insance) than others? For reference. I am located in Dallas, TX.
Real Estate Broker · DFW · Member since 2015 · 350 posts · 270 votes
5y
We are at the point in the market cycle were you probably aren't going to be finding a BRRRR in which you can get all of your cash out after a rehab. All of the inventory is squeezed and some wholesales are able to sell their deals at 85-90% ARV right now. Try finding a different strategy or altering what you want from a returns perspective. Dallas is hot, lots of people are moving here.
As far as finding deals, that's what it takes. Constantly analyzing, talking to people, wholesalers, etc... You'll eventually find one that sticks out and you'll need to act quick.
Real Estate Broker · DFW · Member since 2015 · 350 posts · 270 votes
5y
We are at the point in the market cycle were you probably aren't going to be finding a BRRRR in which you can get all of your cash out after a rehab. All of the inventory is squeezed and some wholesales are able to sell their deals at 85-90% ARV right now. Try finding a different strategy or altering what you want from a returns perspective. Dallas is hot, lots of people are moving here.
As far as finding deals, that's what it takes. Constantly analyzing, talking to people, wholesalers, etc... You'll eventually find one that sticks out and you'll need to act quick.
Real Estate Broker · Coppell, TX · Member since 2011 · 5k+ posts · 4k+ votes
5y
@Youssef Labib I agree with you. In the current market BRRR in Dallas is a tough gig. May have to buy now and wait a year or two or three to refinance and live in in during that timeframe. More people moving here than homes to buy, so that has pushed up pricing.
Investor · Parker, CO · Member since 2016 · 550 posts · 389 votes
5y
@Youssef Labib I'd recommend expanding your territory and start looking at tertiary markets in the path of progress. There is tons of growth in DFW and if you look outside of it within an hour drive, I bet you may have a little more chance of success. People are moving outside of the city and teleworking much more and with the price increase within the city limits going farther out way make more sense.