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Fix and Flip

Writing a Scope of Work That Gets Funded

Flipping is a math business wearing a construction costume. Here is the part of the math this topic covers.

Fix and Flip

The short version, then the substance.

Key Takeaways

  • What it is
  • Why lenders care so much
  • The format that works

What it is. A line-item list of every task in the renovation with a price next to it. Demo, roof, HVAC, electrical, plumbing, kitchen, baths, flooring, paint, landscaping. It is the rehab budget made specific enough to inspect against.

Why lenders care so much. The scope of work drives the draw schedule. Vague scopes produce draw disputes and stalled projects. Specific scopes produce fast inspections and fast money. Ten extra minutes of detail now saves ten days of friction later.

The format that works. Group by trade, price each line, and note who does the work. Add allowances for finishes you have not selected. Total it, add contingency, and make sure it matches the number on your loan application exactly.

The South Texas angle. Averlend underwrites this every week in San Antonio and across Bexar County. If you are working a deal in Alamo Heights or anywhere else in the metro, the theory above comes with a local desk attached: see our San Antonio lending page or send the deal directly.

Keep learning

Related reading and next steps.

San Antonio fix and flip loans

Purchase plus rehab, sized off ARV, in Bexar County.

Read more

Corpus Christi fix and flip loans

Coastal flips with insurance-aware underwriting.

Read more

Real estate loan products

Every structure we offer for property deals.

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Questions

Quick answers from the Averlend desk.

Yes, it is our core product. Purchase plus rehab in one close, up to 90% of the deal, draws released in days, across San Antonio and the Coastal Bend.
Pricing follows the deal: LTV, asset, and exit. Most loans run interest-only with points at close on a 12 month term, quoted straight on the first call.

The Averlend Promise

Reading is free. So is a deal analysis.

Send the collateral, the numbers, and the exit. An Averlend rep will reach out ASAP, same business day.