Investment property loans › Fix and flip loans
Fix and Flip Loans
You can see the finished house. The bank only sees the broken one.A bank gives you an answer. As your loan broker, I give you options.
You found the ugly house on the right street. You know what the kitchen, the roof and the paint will do to its price. The seller wants a closing date, not a conversation, and the bank will not lend on a property it calls uninhabitable.
I’m Kevin Kermeen, and I place fix and flip loans for investors who buy, renovate and sell. Short-term rehab loans are built around the purchase, the budget, the exit and the after-repair value, and one application puts your deal in front of the right capital partners from my network of 200+ for fix and flip financing that fits the project. DON’T beg the bank!
7 days a week (Arizona Time)
- 200+capital partners
- $150,000program minimum
- Purchaseplus the rehab
- 3 to 5 daysfor term sheets
How Fix and Flip Loans Work
A flip lives or dies on four numbers: what you pay, what the work costs, what it sells for and how long it takes. Fix and flip loans are built around all four.
Short-term, built for the project
Fix and flip loans are short-term loans for buying and renovating a property you plan to sell. They are priced and structured differently from a long-term rental loan, and every term is explained in writing before you commit.
How the rehab money moves
On many rehab loans, the renovation budget is held back and released in draws as the work is inspected. You fund the work in stages, the capital partner sees progress, and the project stays on budget.
Why the after-repair value matters
The after-repair value is what the property should be worth once the work is done. Some capital partners size the loan with it in mind, while others lend only on the purchase price and the rehab cost. I know which is which, so your deal goes where the math makes sense.
On This Page
Fix and Flip Loans Stories You Might Be Living
Every flipper who calls me about fix and flip loans has lived a version of one of these. If yours sounds familiar, the deal may not be the problem. The lender might be.
THE DEAL WITH A DEADLINE
The seller wants to close, and the bank wants a month
The price is right because the house is a mess, and three other investors know it. The seller will take the offer that can close. Your bank wants appraisals, committee meetings and a property that already looks finished, and every day you wait is a day someone else can sign.
What changes when you bring it to me: Fix and flip loans are made for distressed property and deadlines. I take your deal to capital partners who lend on houses that need work, and some loans are approved and funded in 24 to 72 hours on select programs. I will tell you at the start whether yours is one of them.
THE RUNAWAY BUDGET
The rehab costs more than the bank thinks the house is worth
You priced the kitchen, the roof, the windows and the permits. Then the lender looks at today’s value, sees a house that needs everything and refuses to fund the work that makes it worth buying.
What changes when you bring it to me: With fix and flip financing, the rehab is part of the plan, not a reason to say no. I present the scope of work, the budget and your after-repair value together, so capital partners see the finished project, not just the broken one.
THE FIRST FLIP
Everyone wants experience, and you are trying to get some
You have the deal, the contractor and the cash for your share. What you do not have is a list of past flips, and the first two lenders you called stopped listening when you said this would be your first.
What changes when you bring it to me: Some capital partners work with first-time flippers, and others give more room to investors with a track record. I match you to the ones that fit where you are today, and every project you finish opens more doors for the next one.
☂️ Banks hand out umbrellas when the sun is shining, not when you are weathering the storm.
7 days a week (Arizona Time)
Are Fix and Flip Loans the Right Fit?
Fix and flip loans fit when
- You are buying a property that needs work
- You plan to renovate and sell
- You have a scope of work and a realistic budget
- You can bring your share of the purchase and closing costs
- You have a clear exit: sale, or refinance into a rental loan
Look at another program when
- You plan to rent it and refinance: see BRRRR loans
- The property is already rented and stable: see DSCR loans
- You want several rentals under one loan: see buy and hold loans
- You are behind on the current note: see the investment property foreclosure bailout
- You plan to live in the property
How Fix and Flip Loans Work With Me
One conversation, one application and a broker who stays on your file from contract to closing.
- You call or apply. Call Kevin 7 days a week (Arizona Time) at (480) 915-8690, or start the fix and flip application. Bring the price, the rehab budget and your estimate of the finished value. Estimates are fine.
- I review the project. I read the deal the way a capital partner will: the price, the scope, the budget, the timeline and the exit, and I tell you straight what needs fixing before it goes out.
- I match the deal. I take one complete file to the capital partners from my 200+ network whose guidelines fit your property, your experience and your plan.
- You compare term sheets. 3 to 5 days
Expect term sheets in 3 to 5 days. I walk you through each one in plain English, including the draw process, costs and conditions. - Valuation and underwriting. The property is valued, often with an as-is value and a value after the work, and I keep the file moving while you line up your contractor.
- You close and start the work. Days, not months
Investor loans like these close in days, not months, and some loans are approved and funded in 24 to 72 hours on select programs. Then the draws follow the work.
7 days a week (Arizona Time)
What You Will Need for Rehab Loans
Have these ready and your fix and flip file can go to the right capital partners without anyone asking you twice. Missing something? Apply anyway and upload the rest later.
Every fix and flip file
- Property address, type and number of units
- The purchase contract
- Property photos, inside and out
- LLC or corporation documents, if you buy through an entity
- Last two months of bank statements for cash to close and reserves
- A credit report with scores, and a government ID
- A personal financial statement and a schedule of real estate you own
The project
- A rehab budget and scope of work
- Your estimate of the after-repair value
- Projects you have finished or sold in the last three years
- Your timeline for the work
- Your exit: sale, or a refinance into a rental loan
Fix and flip loans are for investment property only. If you or a family member will live in the property, it is not a flip, and I will point you in a better direction.
What Capital Partners Look At on Fix and Flip Loans
Every capital partner has its own box, but most ask the same questions about a flip. Knowing them before you apply saves time and surprises.
- The purchase price: what you pay compared to the as-is value
- The budget: a realistic scope of work and a contractor who can deliver it
- The finished value: whether the numbers work once the work is done
- Your cash in the deal: your share of the purchase, closing costs and reserves
- Experience: first-time flippers fit some programs, and a track record opens more
- Credit and history: scores, plus any bankruptcy, foreclosure or short sale
- Title: some partners lend only to an LLC or corporation
- Location and timeline: many partners lend only in certain states, and every one wants a realistic schedule
A weak spot does not end the deal. It changes which capital partners fit, which is why I review every file before it goes out. For how a sale of investment property is treated for tax purposes, see IRS Publication 544 on sales and other dispositions of assets, and for the housing market, see the U.S. Census Bureau new residential construction data.
Run the numbers on your flip first
Purchase, rehab, holding costs and your projected profit in one place. Bring the result when you call me.
Recently Funded Fix and Flip Loans
Real investor deals from my desk. Every deal is different, and yours starts with a conversation.
Why Flippers Use a Broker for Fix and Flip Financing
A bank gives you an answer. As your loan broker, I give you options.
A bank can only offer its own loan, on its own timeline. I am a nationwide commercial loan broker, and I work for you, not the lender. My job is to know which capital partners are lending on which kinds of rehab projects right now, and to present your flip so it gets a fair look. DON’T beg the bank!
“Bring me the house the bank would not touch. I will tell you what the project supports, what it will take and which of the 200+ capital partners I work with is the right fit.”
A fit if you
- Need $150,000 or more for a flip
- Have a property under contract or a real target
- Have a budget and a scope of work
- Want options, not one take-it-or-leave-it offer
Not a fit if you
- Need less than $150,000
- Plan to live in the property
- Want a promise of approval before anyone sees the file
- Are not ready to share documents
Other Investor Programs
Every strategy needs a different loan. See all six on my investment property loans page, or jump to the one that fits.
Buy and Hold Loans
Best for: Long-term rentals, one or several under one loan
Investment Property Foreclosure Bailout
Best for: Behind on an investment property note
Duplex, Triplex and Fourplex Loans
Best for: Buying or refinancing a duplex, triplex or fourplex
Need to grab a property before you line up the rehab money? See my bridge loans, or browse every option on my loan programs page.
7 days a week (Arizona Time)
Fix and Flip Loans FAQ
What are fix and flip loans?
Fix and flip loans are short-term investment property loans for buying a property, renovating it and selling it. They are built around the purchase price, the rehab budget, your experience and the exit.
How do rehab loans pay for the work?
On many rehab loans, the renovation budget is held back and released in draws as the work is inspected. Draw schedules and inspection rules vary by capital partner, and I explain them before you commit.
Do lenders use the after-repair value?
Some capital partners size the loan with the after-repair value in mind, and others lend only on the purchase price and the rehab cost. I match your deal to partners whose approach fits your numbers.
Can I get fix and flip financing on my first flip?
Often, yes. Some capital partners work with first-time flippers, while others want a track record. A solid deal, a realistic budget and your share of the cash matter most.
What is the minimum loan amount?
My fix and flip loans start at $150,000. For a smaller deal, call Kevin (480) 915-8690 to discuss your situation, and I will tell you honestly whether I can help.
What if I decide to keep the property?
You can refinance a finished property into a long-term rental loan, such as a DSCR loan, if the rent supports it. Planning that option on day one is the idea behind BRRRR.
How long do fix and flip loans take?
Expect term sheets in 3 to 5 days. Loans like these close in days, not months, and some loans are approved and funded in 24 to 72 hours on select programs. The valuation, title and your documents set the pace.
Is approval certain if I apply?
No. Every file is subject to credit approval, and rates and terms depend on the property, the project and your file. What I promise is a personal review and a straight answer.
Ready to Talk About Your Fix and Flip Loans?
A bank gives you an answer. As your loan broker, I give you options.
Tell me about the house the bank would not touch. I review every fix and flip file personally and give you a straight answer on what the project supports. DON’T beg the bank!
☂️ Banks hand out umbrellas when the sun is shining, not when you are weathering the storm.
7 days a week (Arizona Time)
Subject to credit approval. Terms vary. This is not a commitment to lend. Fix and flip loans are for non-owner-occupied investment property only.