How to Get a Fix-and-Flip Loan in 10 Days: The Private Money Playbook

If you have ever tried to finance a fix-and-flip through a traditional bank, you already know the problem: the loan committee meets every six weeks, the appraisal takes four weeks, and your purchase contract closes in thirty. The math does not work.

This is why experienced real estate investors use private money – and why deals that banks turn down get funded every week through lenders who understand what a distressed property is worth after the rehab, not before.

What Is a Fix-and-Flip Loan?

A fix-and-flip loan is short-term, asset-based financing designed for investors buying, rehabbing, and reselling properties. It is typically a 6-18 month bridge loan that covers both the purchase price and a portion of the rehab costs.

Unlike a conventional mortgage, the lender is not underwriting your personal income. They are underwriting the deal – specifically the after-repair value (ARV) and whether the numbers support a profitable exit.

How the Numbers Work

Private fix-and-flip lenders typically lend up to 65-75% of the ARV, or up to 90% of the loan-to-cost (LTC). Here is a quick example:

• Purchase price: $150,000
• Rehab budget: $50,000
• Total project cost: $200,000
• ARV (estimated after rehab): $300,000
• At 70% ARV: lender can fund up to $210,000
• At 90% LTC: lender can fund up to $180,000

In many cases, you can finance the entire project – purchase plus rehab – without significant out-of-pocket capital. The deal quality is what matters, not your employment history.

What Private Lenders Actually Look At

Forget the checklist your bank uses. Here is what a private money lender cares about on a fix-and-flip:

• The ARV: A realistic, comparable-supported after-repair value. Can this property sell for what you think it will once rehabbed?
• The scope of work: Is the rehab budget credible? A contractor estimate or detailed itemized scope gives lenders confidence.
• Your exit strategy: Sell, refinance into a DSCR loan, or wholesale – lenders want to see a clear path to repayment.
• Experience (helpful but not always required): First-time flippers can still get funded with a strong deal and a solid contractor relationship.

No debt-to-income calculations. No “livable at close” requirements. No six-week committee calendar.

The 10-Day Close: Is It Real?

Yes – with the right lender and a complete file, deals close in as few as 7-14 days. The key is getting your documents ready before you go under contract:

1. Scope of work with line-item costs
2. Comparable sales supporting your ARV
3. Entity documents (LLC operating agreement, articles of organization)
4. Property information and executed purchase contract

Most delays in private lending come from the borrower side – missing documents, incomplete scope, contractor estimates that take two weeks to arrive. Have your file clean and the process moves fast.

Fix-and-Flip vs. Traditional Mortgage: A Quick Comparison

Traditional bank: 45-60 day close timeline, property must be livable, W-2 and tax returns required, max 80% LTV on purchase price, 15-30 year loan term.

Private fix-and-flip: 7-14 day close timeline, distressed properties funded, deal-based underwriting (no W-2 required), up to 90% LTC, 6-18 month loan term.

When you are buying a distressed duplex with a 30-day close window, there is only one tool that actually fits the job.

Where Investors Go Wrong

The most common mistake: overestimating the ARV. Every number in your deal flows from this single figure. Use recent comparable sales – within 6 months, within a half mile, similar size and condition post-rehab – and be conservative. Lenders will order their own appraisal or BPO. If your ARV is unrealistic, you will know it fast.

The second most common mistake: underestimating the rehab. Add a 15-20% contingency to every scope. Surprises happen – running out of construction budget mid-project is far more expensive than carrying a slightly higher loan from day one.

How to Apply Through Slate Financial

Slate Financial works with a network of private lenders who fund fix-and-flip projects in Florida, Texas, Georgia, South Carolina, and nationwide. We are a capital solutions broker – we find the right lender for your specific deal, not the other way around.

The process:

1. Apply online at slatefinancial.io/apply/fix-and-flip – takes about 2 minutes
2. We review your deal and match it to the right lender in our network
3. You receive a term sheet, typically within 24-48 hours
4. Close in as few as 10 days from complete application

Ready to fund your next fix-and-flip? Apply now at slatefinancial.io/apply/fix-and-flip and see what your deal qualifies for.

Funding subject to lender approval. Results not typical. Slate Financial is a commercial capital broker, not a direct lender.

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