Fix and Flip in Texas

Because Texas flips on volume, not on appreciation. ATTOM's Q1 2026 state data puts Texas at 6,367 flips, 9.9% of all sales, an average gross profit of $15,965, and a 5.6% gross return. The national set that quarter was 64,348 flips, 8.0% of sales, roughly $66,000 gross profit, and 25.4% gross return. Read the definition before you read too much into either figure: ATTOM's gross ROI is resale price against purchase price only, with no rehab, carry, or financing in it, so it is not a project return and a $15,965 average spread is what a Texas rehab budget, carry, and financing all have to come out of. The direction is at least right, with gross profit up from $13,472 and gross return up from 4.9% a year earlier. Underwrite the buy hard and run the whole deal on the fix and flip calculator before you sign a contract.

Yes, and the statute sets your calendar for you. Texas forecloses non-judicially under Property Code section 51.002. Sales run on the first Tuesday of the month, between 10 a.m. and 4 p.m., at the county courthouse of the county where the property sits, or at another nearby public place the commissioners court has designated. If the first Tuesday falls on January 1 or July 4, the sale moves to the first Wednesday. Notice of sale, including the earliest time the sale will begin, must be posted, filed with the county clerk, and mailed to the debtor at least 21 days ahead. The extra 20-day notice to cure applies only where the property is the debtor's own residence, which is why most non-owner-occupied files run on the shorter track. Practically, that means Texas distressed inventory arrives in one batch a month on a fixed date, and money has to be committed before the sale, not after. We issue a term sheet the same day and typically fund within 48 hours of clear title, so most files land at 5 to 7 days, subject to underwriting. Apply now when you see the posting, not the week of the sale.

No, and that is a Texas quirk worth knowing. The Texas Insurance Commissioner is required by Insurance Code section 2703.151 to fix and promulgate title insurance premium rates, so the basic premium on a given policy amount is identical at every title company in the state. Order No. 2025-9697 cut those basic premium rates 6.2% effective March 1, 2026. TDI's own worked example under the new schedule: a $268,500 policy costs $1,612, computed as $268,500 minus $100,000, times 0.00494, plus $780. What you can still shop is escrow service, endorsements, and the closing-fee items, which is where the real difference between title companies shows up on a flip that has to close on a deadline. Budget the premium as a fixed line and pick the company on whether it can actually close you fast.

With more work than you would need in a disclosure state. Texas does not compel anyone to report a residential sale price to the county appraisal district, and sale prices are not written on deeds or pulled from a clerk search. Appraisal districts run on voluntary submissions from agents, title companies, and owners, plus MLS data obtained by agreement. Non-disclosure is not confidentiality, and MLS-listed sales generally reach the appraisal district anyway, but off-market and non-MLS comps are genuinely harder to verify here. Two consequences for your file: the appraisal and BPO carry more of the load on after repair value than they would elsewhere, and an ARV built on unverified private-sale chatter will not survive our review. Bring the closed MLS comps you are relying on when you send the deal in.

More than the no-income-tax headline suggests. Texas has no state individual income tax, and it makes that back on property tax: the Tax Foundation puts the effective rate at 1.40% of owner-occupied housing value for 2026, and published figures run roughly 1.2% to 1.4% depending on the county and the vintage. None of the homestead relief reaches you. The 2025 legislation that raised the school district homestead exemption to $140,000 for the 2026 tax year, approved as Proposition 13, flows to owner-occupants, and the 10% annual appraisal cap is a homestead feature too, so a flip you hold has neither. Expect the bill to step up when the prior owner's homestead-capped value comes off. Insurance is the other live line: Texas average homeowners premiums rose more than 55% between 2019 and 2024, with TDI-filed average rate changes of 21% in 2023, 19% in 2024, and 4.3% in 2025, and a vacant-dwelling or builder's risk policy prices above a standard owner policy. Get real tax and insurance quotes for the specific address, and talk to your CPA about your own situation.

Almost nothing, and it is worth knowing why. The Texas median sale price was $340,000 in the second quarter of 2026, unchanged year over year, on 99,688 closed sales, up 4.5%, with 5.4 months of inventory and an average 65 days on market, 3 days longer than a year before. That flat statewide number is an average of prices rising in 14 Texas metros and falling in 11, with one flat, so it is big-metro softness and small-metro strength cancelling out rather than a market standing still. Underwrite the exit to your submarket's own days on market and comps, and note that 65 days on market is the listing clock alone, before rehab time. Our fix and flip loan runs a 6-month interest-only term, so build rehab, listing, and a price reduction into that window rather than assuming a fast clean sale.

There is no minimum score on this program. We do run credit, but on an asset-based loan it carries far less weight than it would at a bank. The file turns on the property, the rehab budget, and the after repair value. Weaker credit is usually answered with lower leverage rather than a decline, and there is no hard credit pull to start. Texas flips on basis and speed, so the buy matters more than the score. Subject to underwriting.

Roughly 10% of the purchase, plus closing costs and a contingency. We fund up to 90% of the purchase price and up to 100% of the rehab budget, capped to ARV. On a purchase at the Texas statewide median of $340,000 that is up to $306,000 from us and $34,000 from you (340,000 x 90% = 306,000), with rehab drawn against the schedule rather than paid up front. ATTOM puts the average Texas gross flip profit at $15,965, so the contingency is not optional. Subject to underwriting.

$100,000 is the floor and $5,000,000 is the ceiling. Below $100,000 the fixed cost of a closing eats the deal for both of us, and plenty of Texas inventory sits under that line, so check the number before you tie up a contract. The term is 6 months, interest-only, which on a state averaging 65 days on market has to cover rehab, listing, and a price reduction. Subject to underwriting.

Yes. First-time flippers are welcome on this program. The file is underwritten on the property, the budget, and the exit, so a thin track record is not a decline by itself. Expect it to show up in leverage rather than in a yes or no, and expect harder questions about your contractor and your ARV support. Texas is a non-disclosure state, so the appraisal and BPO carry more of the load on value than they would elsewhere. Bring closed MLS comps. Subject to underwriting.