How a Flipper Funded the Purchase and 100% of the Rehab in One Close, and Beat the Auction Clock
Sources: Asset-Based Investor Financing, Bridge Loans, Bridge-to-DSCR Refinance
How did a flipper buy and renovate a property on one loan, fast?
He had a flip under contract with a hard deadline and didn't want two loans or a 60-day bank timeline. We matched him to a fix-and-flip program that funded up to ~85% of the purchase plus 100% of the rehab in a single close, sized to the after-repair value. No tax returns; underwritten on the deal. He closed in under three weeks and drew rehab funds as the work progressed. The pattern repeats for any flipper with a credible budget and supportable comps.
, PeerSense Composite Case Study · 2026-06-24
At a glance
| Borrower | Experienced house flipper, LLC-held |
| The pressure | Hard auction/contract deadline, needed to close fast |
| Structure | Up to ~85% of purchase + 100% of rehab, one loan |
| Sized by | Loan-to-cost vs. after-repair value (≤~75% ARV) |
| Term | 12-month interest-only |
| Tax returns required | No |
| Time to close | Under 3 weeks |
| Exit | Sale, or refinance to DSCR if kept as a rental |
The borrower
He'd flipped houses before and knew his numbers cold. He found the right property, under-priced, the right neighborhood, comps that supported a strong after-repair value once the work was done. He had a renovation crew lined up and a budget built out line by line.
Two things stood between him and the deal: a hard deadline on the contract, and the cash gap between buying the house and paying for the rehab. He didn't want to drain his own capital on the purchase and then scramble for a second loan to fund the work. He needed one facility that did both, and he needed it to close before the clock ran out.
Why a bank couldn't help in time
A conventional bank wasn't built for this. The timeline alone, 60 to 90 days, would have blown the deadline. And the structure a flipper needs (buy plus renovate, drawn against the future value of the finished property) isn't how a bank underwrites. Banks lend on what the property is worth today and on the borrower's documented income. A flip is a bet on what the property will be worth after the work, and the flipper's tax returns rarely tell that story.
How PeerSense solved it
We matched the deal to a fix-and-flip program that funds the purchase and the renovation on a single loan, sized by loan-to-cost against the after-repair value. The structure:
- Up to ~85% of the purchase price financed, keeping his cash in his pocket
- Up to 100% of the rehab budget available to draw as the work progressed
- Total proceeds capped near 70-75% of the after-repair value, the cap that keeps the deal sound
- A 12-month interest-only term matched to a flip's timeline
The file was built on the deal, not the borrower's 1040: the purchase contract, the appraisal with the after-repair value, the rehab budget, and the comparable sales that supported it. What carried the deal was the math of the flip, not documented personal income.
The outcome
- Closed in under three weeks, the deadline was met with room to spare
- One loan, one close covering both the buy and the renovation
- His own cash preserved for the next deal instead of sunk into this one
- A clean exit planned, sell on completion, or refinance into a DSCR loan if he keeps it as a rental
The pattern, experienced flipper, real deal, hard deadline, needs purchase and rehab on one fast-closing loan, repeats on nearly every value-add project. The math of the flip carries the file. If you've got a deal under contract and a clock running, we should talk before the clock wins.
Got a flip under contract and a clock running?
Tell us the purchase price, your rehab budget, the after-repair value and comps, and your timeline. If the numbers work, we'll match it to a lender that funds purchase plus rehab on one fast close, and tell you quickly whether it's doable.
Fix-and-Flip, Case Study: Response within 24–48 hours. No obligation.
Frequently asked questions
Can one loan cover both the purchase and the rehab on a flip?+
Yes. Fix-and-flip programs commonly fund up to roughly 85% of the purchase price plus up to 100% of the rehab budget in a single loan, with total proceeds capped at about 70-75% of the after-repair value (ARV). One close, one set of fees, and capital to draw as the work progresses.
How is a fix-and-flip loan sized?+
By loan-to-cost against the after-repair value, not by your income. The lender looks at the purchase price, the renovation budget, and the supportable ARV from comparable sales. The ARV cap is the real governor, a credible rehab budget and solid comps matter far more than tax returns.
How fast can a fix-and-flip loan close?+
Light-documentation fix-and-flip loans commonly close in 14 to 21 days with a clean file and a timely appraisal, fast enough to hit auction deadlines and competitive contracts that a conventional bank's 60 to 90 day timeline would lose.
Do I need good credit or tax returns to flip?+
These are asset-based programs. Credit is reviewed and affects pricing and leverage, but full personal tax returns are frequently not required. The deal is underwritten on the property, the rehab plan, and the after-repair value rather than a full personal-income review.
What is the exit on a fix-and-flip loan?+
Short-term by design, typically a 12-month interest-only term. The standard exit is the sale of the finished property, or a refinance into a longer-term DSCR loan if the investor keeps it as a rental once stabilized and leased.
What property types qualify?+
Non-owner-occupied 1-4 unit residential is the core: single-family, condos, townhomes, and 2-4 unit buildings. Some programs extend to small multifamily and mixed-use. Owner-occupied primary residences do not qualify, these are investment-property loans.
Have a flip that needs to move?
Deal under contract? Rehab budget ready? Clock running? This is the deal we close every month.
Composite case study. Names, locations, loan figures, and identifying details are illustrative and modified to protect borrower privacy; this is a representative scenario, not a specific client endorsement. Actual rates, leverage, and terms vary by borrower, property, credit, and market conditions. Programs are for non-owner-occupied investment property, not primary residences. PeerSense is a capital advisory firm and does not directly originate loans.