Buy & Hold in DFW - can't make the numbers work - what am I missing?

[Eyal Goren]

Hi there, 
I've been researching the DFW metro in the past 3 weeks and running the numbers on many many deal opportunities, but nothing actually works out as a long term business.

We're looking for a standard home, nothing fancy.

Here's an example. 

https://www.redfin.com/TX/Fort-Worth/9225-Nathan-Dr-76108/home/30994800#property-history

Since we were so frustrated from the numbers, we unrealistically said, that we'll get the property for 50% discount.

So instead of the asking price 300,000 we'll get it for 160k.
Rehab 55 + hardmoney interest + closing.

And the entire deal costs - $249,378

Here's the complete calc

The only way this does work is if I take a cash-out refi of 63k (which is 20% of arv) instead of 210k as my original plan (which is 65% of arv).

My conclusion from this is that you really can't invest in buy & Hold/BRRRR in this market if you want to role your money to more properties - am I wrong?

Thanks.

Eyal

[Skyler Bissell]

Some markets just don't pencil. But it's also heavily property dependent. If the property won't work for that amount, offer less. Or look elsewhere. I'm in Seattle and there haven't been real BRRRRs here in years haha