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Austin fix and flip loans that cover the purchase and the rehab
One Austin fix and flip loan for the house and the work. We fund 100% of both, up to 70% of what the house will be worth when you are done, and close in about 5 days.
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Estimate only. Loan amount is the lower of 100% of purchase plus rehab or 70% of the sale price when finished (after-repair value). Minimum loan $150,000. Business-purpose loans on investment property.
How we size an Austin fix and flip loan
We start with your total cost, the purchase price plus the rehab budget. We fund 100% of it, up to 70% of the after-repair value. If your cost is above that limit, you bring the difference at closing.
| Deal | Amount |
|---|---|
| Purchase price | $215,000 |
| Rehab budget | $75,000 |
| Total cost | $290,000 |
| After-repair value | $400,000 |
| 70% of after-repair value | $280,000 |
| You bring | $10,000 |
| Loan amount | $280,000 |
This deal is $10,000 over the limit, so the investor brings $10,000. Negotiate $10,000 off the price and the same deal is fully funded.
What to budget for on an Austin rehab
Austin houses built from the 1940s through the 1970s make up much of the flip inventory, and they tend to need the same things. Budget carefully for these before you write the offer:
- Foundation. Central Texas clay soil expands and shrinks with the weather, so foundation repair is common. Get a foundation company's bid before you close.
- Roof. Hail is a regular part of Greater Austin springs. Check the roof age and any past insurance claims.
- Plumbing and electrical. Cast iron drains and older panels often need replacing in pre-1970s houses.
- Permits. Structural, electrical, plumbing and HVAC work in the City of Austin generally needs permits. Build the timing into your schedule.
All of it can go into the rehab budget we fund. See how to estimate after-repair value so the numbers hold up.
Why speed wins deals in Austin
Sellers of distressed houses pick the buyer who can close. A 5 day closing lets you write an offer that competes with cash buyers and wholesalers' end buyers, and it gets your crew into the house sooner so you carry the property for less time.
For the general picture of this loan type, read our guide to fix and flip loans.
Hard money loans across Greater Austin
We lend on investment houses throughout the Greater Austin area, in Travis, Williamson, Hays, Bastrop and surrounding counties.
Questions investors ask
Straight answers about Austin fix and flip loans.
How much of an Austin flip will you fund?
100% of the purchase price and 100% of the rehab budget, as long as the total loan is no more than 70% of the after-repair value.
What is after-repair value?
After-repair value, or ARV, is what the house should sell for once the rehab is finished. It is based on recent sales of renovated houses nearby.
What if my purchase and rehab cost more than 70% of the after-repair value?
The loan stops at 70% of the after-repair value. You bring the difference between that amount and your total purchase and rehab cost.
What is the smallest loan you make?
Loans start at $150,000.
How fast can you close?
We can close in about 5 days once we have the contract, the rehab budget and title is open.
More from Austin Hard Money
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