You found a property worth $600K fixed and $410K broken that needs $90K of work. You don't want two loans, three closings, and a lender who reimburses you 45 days after you've already paid the plumber.

• Investors doing one to twenty flips a year
• BRRRR operators who'll refinance into rental debt after stabilization
• First-time flippers with a solid GC and real reserves
• Buyers at auction or off-market who need speed

Loan size: $250K – $10M+

Purchase: Up to 90%

Rehab: Up to 100%, funded in draws

Max leverage: Up to 75% LTARV

Term: 12–24 months

Rate: 8.5%+

Prepayment: None

Experience: First-timers considered with the right profile

ARV that doesn't appraise. Your comps and the appraiser's comps are rarely the same comps. If ARV comes in $40K light, your loan shrinks and you cover the gap in cash. Bring the comp set up front and we'll pressure-test it.

Scope creep. A $90K budget that becomes $140K in month four means you're funding the overage. Budget contingency at the start — every lender would rather see 10% padding than a change order request in month five.

No cash reserves. Lenders want to see you can carry the project if it runs long. Liquidity gets deals approved as often as credit does.