Looking to fix and flip in Dallas or Fort Worth? There’s plenty of opportunity! A home flipping report released in March 2018 from ATTOM Data Solutions highlights Dallas-Fort Worth as one of the top growing areas in the country for fixing and flipping. In 2017, DFW’s house flipping rate (the percentage of total home sales purchased to fix and flip) increased by 23% compared to 2016. Three of the best places in Dallas-Fort Worth to flip houses include:
Zip Code 76119
The 76119 zip code in Fort Worth boasts one of the highest house flipping rates in the DFW area. Of total home sales in 2017, 19.5% were attributed to fixed-and-flipped homes. This rate dramatically increased by 62% compared to 2016. 76119 also boasts one of the highest Gross ROI at 81.1%. Gross profit averaged at $53,119, and the fix-and-flip lifecycle typically spanned 130 days. Neighborhoods to pursue in this area include Glencrest Civic League and Forest Hill.
Zip Code 76105
Another Fort Worth zip code, 76105 also has one of the highest flipping rates. It peaked at 20.9% in 2017, a 46% increase compared to the previous year. Also similar to 76119, Gross ROI was exceptionally high at 93.4%. Gross profit on flipping a house in 76105 averaged at $47,820, and investors usually spent about 125 days repairing and selling a property. Polytechnic Heights and Burchill are neighborhoods of interest in 76105.
Zip Code 75216
Although the house flipping rate in Dallas’ 75216 zip code decreased year-over-year to just 13%, Gross ROI remained relatively high at 67.6%. The time it took to fix-and-flip averaged at 157 days, and the flipping gross profit averaged at $43,164. 75216 is located in south central Dallas and is largely dominated by the Cedar Crest neighborhood.
Finance Your Fix and Flip with a Hard Money Loan
If you’re planning to fix and flip a house in the DFW area, then skip the hassle of a bank and apply for a hard money loan. These types of loans are specifically designed to aid investors looking to quickly fix and flip a distressed property. At Noble Mortgage, our hard money loans are based on the ARV, so you can buy cheap and sell for a profit. Get in touch to learn how you can qualify for a $100K – $5MM loan!