Plenty of Kansas flips are cosmetic jobs that turn in a few months. On a short project, closing speed and lender costs can move your return more than the rate does.
In short: No lender is best for every Kansas flip. For a quick cosmetic rehab, the best lender is the one that closes on time, keeps lender and closing costs low and funds the few draws you need without delay. For a heavier job, leverage, draw speed and extension terms matter more. LendingStreet finances investment property in Kansas, with rates from 9.99% for qualified borrowers, up to 90% of the purchase price, up to 100% of the rehab budget paid in draws and closings in as little as 10 days.
On a four-month flip, interest is a smaller share of total cost, and fixed costs at closing take up more of it. On a twelve-month heavy rehab, the opposite is true. Decide which kind of project you have before you compare offers.
Either way, get every offer in writing and convert it to dollars on the same timeline.
| Project type | What usually matters most | Ask the lender |
|---|---|---|
| Cosmetic, 3 to 5 months | Closing speed and up-front costs | What are all closing costs in dollars, and when can you fund? |
| Moderate, 5 to 8 months | Leverage and draw speed | How many draws, and how fast are they funded? |
| Heavy, 8 months or more | Term, extensions and rate | What does an extension cost, and on what conditions? |
Our fix and flip loans run from $150,000 to $5M+, with rates from 9.99% for qualified borrowers and terms that typically run 12 to 18 months. A complete file can close in as little as 10 days.
We finance up to 90% of the purchase price and up to 100% of the approved rehab budget, paid in draws after work is completed and inspected. Experience helps pricing and leverage, and first-time flippers can qualify on some programs, often at lower leverage. The financing team reviews your deal and comes back with 2 to 3 options.
Wichita is the state's largest city, with an economy long tied to aircraft manufacturing and with McConnell Air Force Base nearby. It has a wide range of older ranch homes and mid-century neighborhoods at entry prices that often suit flips.
On the Kansas side of the Kansas City metro, Johnson County cities such as Overland Park, Olathe, Lenexa and Shawnee have higher price levels and many 1960s to 1990s homes ready for updates, while Kansas City, Kansas, has older housing at lower prices. Topeka, the capital, Lawrence, home to the University of Kansas, and Manhattan, home to Kansas State University and near Fort Riley, round out the main markets.
Kansas sees hail, high winds and tornadoes, so roof age, siding condition and insurance cost belong in the budget from day one. Many buyers will ask about the roof first.
Clay soils in parts of the state expand and shrink with moisture, which can cause foundation movement and cracks, especially in older homes. Basements are common in the Kansas City area and should be checked for water. Permits are handled by each city or county, so confirm timing for your scope.
This example is illustrative and not a quote. An investor buys a Wichita ranch home for $175,000, plans $45,000 of cosmetic work and expects an ARV of $275,000. The loan covers 85% of the purchase ($148,750) plus 100% of the rehab ($45,000), for $193,750, about 70% of ARV. The investor brings $26,250 down.
At a sample rate of 10.25% with interest on the full balance, interest is about $1,654.95 a month, or $6,619.79 over four months. Total cash invested, counting the down payment, sample closing costs, interest and holding costs, is $41,269.79. The estimated profit of $23,480.21 is a return of about 57% on that cash over four months.
| Item | Amount |
|---|---|
| Sale price | $275,000 |
| Purchase price | -$175,000 |
| Rehab | -$45,000 |
| Sample closing costs | -$6,000 |
| Interest, 4 months | -$6,619.79 |
| Taxes, insurance, utilities ($600 x 4) | -$2,400 |
| Selling costs (6%) | -$16,500 |
| Estimated profit | $23,480.21 |
Lenders look at the ARV supported by recent comparable sales, the line-item budget, the schedule and your track record. In Johnson County and Wichita, comps are usually plentiful. In smaller towns, valuations may come in more conservatively.
Credit and reserves affect pricing and leverage. On a short cosmetic flip, a tight scope and a contractor ready to start help show the lender the timeline is real.
Send the address, purchase contract, scope of work, comparable sales and bank statements for the down payment, closing costs and reserves. Add LLC documents and a list of completed projects.
If you need to close quickly to win a deal, tell us your date up front. A complete file is what makes a 10-day close possible.
Yes. LendingStreet finances investment property in Kansas, including Wichita, Johnson County, Kansas City, Kansas, Topeka and Lawrence. Fix and flip loans are business-purpose loans on non-owner-occupied property from $150,000 to $5M+.
It depends on the project. Kiavi, RCN Capital and LendingOne also write investor loans, and coverage varies by state, so confirm each lender finances in Kansas. Compare total cost, closing speed, leverage and draws on the same property.
With a complete file, as little as 10 days. Missing documents, title issues or a slow appraisal or valuation can add time.
Yes. Even a cosmetic job needs a line-item scope so the lender can size the rehab portion and set up draws.
Yes. That includes Johnson County cities like Overland Park and Olathe, as well as Kansas City, Kansas.
Yes. A DSCR loan can pay off the short-term loan once the property is renovated and rented, qualifying on the property's rent.
2-3 competing quotes from 30+ capital sources. No credit pull. No commitment.
By clicking, you provide express written consent to be contacted by LendingStreet (NMLS #1734316) via SMS, phone, or email, possibly using automated technology, regarding your loan inquiry. Reply STOP to opt out. Consent is not required to obtain services. See our Privacy Policy and Terms.