Starting a fix-and-flip project in Dallas-Fort Worth means getting dozens of moving parts right at once. You need the property, the contractor, the timeline, and the funding all working together. At HiFi Hard Money, we’ve helped investors close hundreds of fix-and-flip loans across DFW, and we’ve learned what separates smooth projects from stalled ones. This checklist walks you through the essentials to help you move faster and avoid common pitfalls.
What to Lock Down Before You Apply
Before you reach out to us for a fix-and-flip loan, take time to get your project details in order. The better your prep work, the faster we can move.
Start with your property. We focus on single-family homes in major Texas markets like Dallas-Fort Worth, San Antonio, Austin, and Houston. Condos are off the table, and small multifamily properties are highly unlikely in today’s environment. Make sure your target property fits that profile before you go under contract.
Know Your Numbers
You’ll want a realistic After-Repaired Value estimate. We lend up to 75% of ARV, which means your ARV directly impacts how much funding you can access. Get comps from your agent or appraiser. If your numbers are off, your entire budget falls apart.
Next, build a detailed rehab budget. Walk the property with your contractor and list every repair, from roof to flooring to paint. We use a simple one-page scope of work format, and having that ready speeds up your drawing process later. Our draw turnaround is typically the same day or the next day, but only if your paperwork is clean.
Understand the Timeline
If you’re new to HiFi, plan for about 5 business days from application to closing. That’s a full week, which is fast compared to traditional financing but still requires you to have everything ready. Returning investors can close in as little as 3 business days because we already have your profile on file. Either way, you need to coordinate your purchase contract dates around that timeline.
Verify Your Costs Upfront
We’re transparent about what you’ll pay. Appraisal costs are what we pay. Doc prep costs are what we pay. We don’t charge administrative fees or underwriting fees, and we defer points, interim interest, and third-party expenses until you sell the property. That’s our zero upfront fees program, and it keeps your cash available for the rehab itself.
When you apply, ask us to walk through the total cost structure. We’ll show you exactly what gets deferred and what you’ll owe at exit. No surprises.
Have Your Documentation Ready
You don’t need perfect credit or two years of tax returns like you would with a bank. We focus on the property’s value and your project plan. Still, you’ll need basic documentation: proof of funds for your down payment, a scope of work, purchase contract details, and comps supporting your ARV.
If you’ve flipped before, bring photos or addresses of past projects. That helps us understand your experience level and may speed up approval.
Choose the Right Market
Dallas-Fort Worth has dozens of neighborhoods, but not all of them make sense for a flip. We’ve seen thousands of projects across DFW, and we know where margins get tight. Stick to areas with strong buyer demand and stable pricing. Avoid properties near external obsolescence issues like busy highways, flood zones, or declining school districts. Those factors hurt resale value and extend your holding time.
Plan Your Exit Before You Buy
Fix and flip projects don’t generate income while you hold them. Every extra month adds carrying costs and eats into your profit. Before you close on the purchase, know how long the rehab will take and how quickly homes are selling in that neighborhood. We help investors move fast, but your project timeline is ultimately up to you and your contractor.
Use the Right Application Path
We have two application tracks. If this is your first project with us, use our “Start Here” path for new investors. If you’ve worked with HiFi before, jump to the “Express Lane” for returning investors. Both paths are online, and both move quickly once we have your information.
You can also call us directly at (972) 630-6676 or email info@hifihardmoney.com. We’ll answer questions, review your project, and give you honest feedback on whether it makes sense.
FAQs
What property types qualify for fix and flip loans at HiFi?
We focus on single-family homes in major Texas markets, including Dallas-Fort Worth, San Antonio, Austin, and Houston. Condos don’t qualify, and small multifamily properties are highly unlikely in the current environment.
How long does it take to close a fix-and-flip loan?
New investors typically close in 5 business days. Returning investors who’ve worked with us before can close in as little as 3 business days.
How much can I borrow against the property’s value?
We lend up to 75% of the After-Repaired Value, with a typical range of 65-75% LTV depending on the project.
What fees do I pay upfront?
None. We defer points, interim interest, appraisal costs, doc prep fees, and third-party expenses until you sell the property. We don’t charge administrative or underwriting fees.
