Memphis is one of the most investor-heavy housing markets in the South. Low entry prices, deep rental demand and a large stock of older homes give flippers plenty of choices, but they also mean bigger rehab budgets and more competition for clean deals.
In short: Our top pick for fix and flip financing in Memphis is LendingStreet. We fund 1-8 unit investor flips from $150,000 to $5M+, cover up to 90% of total cost and up to 100% of the rehab on some programs, and close in as little as 10 days. In a market where many flips end up as rentals, our in-house path to a long-term DSCR loan gives you a second exit if the sale market slows.
We built our fix and flip program for investors, not homeowners. In Memphis, LendingStreet funds 1-8 unit flips from $150,000 to $5M+, with leverage up to 90% of total cost and up to 100% of the rehab on some programs. The loan is short-term and interest-only, which keeps payments lower while the work is underway.
Investors choose us for speed and follow-through. We can close in as little as 10 days across Shelby, Fayette and Tipton counties, plus DeSoto County, Mississippi, and if the finished home is a better rental than a sale, the same team can move it into a 30-year DSCR loan.
Have a property under contract or in mind? Use the form below for a quote, or call (877) 298-1001.
Well-known fix and flip lenders include Dominion Financial, LendingOne, Lima One and RCN Capital. Compared scenario by scenario for investors in Memphis, TN, LendingStreet comes out as the stronger choice, and one application covers it.
Figures for other lenders are as stated on each lender's own website as of November 2026. Lender terms change, so verify current terms with any lender before you apply. Ready to see your numbers? Use the form below or call (877) 298-1001.
| Scenario | Best fit | Why |
|---|---|---|
| Fix and flip above $3M | LendingStreet | Our fix and flip program runs from $150,000 to $5M+. LendingOne states fix and flip loans up to $3,000,000, and RCN Capital states up to $2M. |
| Flip of a 5-8 unit building | LendingStreet | We finance 1-8 unit investor properties. RCN Capital states its fix and flip loans cover 1-4 family homes, condos and townhomes. |
| Property in any state, including DC | LendingStreet | We lend in all 50 states and DC. Lima One states it lends across 46 states, and Dominion Financial lists 49 states plus DC. |
Midtown neighborhoods such as Cooper-Young, Central Gardens, Evergreen and Crosstown carry 1910s to 1930s bungalows, Tudors and foursquares that sell well when renovated with care. East Memphis and the areas near the University of Memphis offer mid-century homes with strong resale.
Frayser, Raleigh, Whitehaven, Hickory Hill and Orange Mound have lower entry prices and many post-war brick ranches, which is why many investors there plan for a rental exit as a backup. Suburban flips in Bartlett, Cordova, Germantown and Collierville tend to involve newer homes and higher price levels.
Across the state line, DeSoto County, Mississippi, is part of the same metro. We lend there too, but Mississippi closing rules differ from Tennessee.
Many Memphis flips are full renovations. These items come up often enough to price in before you make an offer.
Building permits in Memphis and unincorporated Shelby County run through the joint Memphis and Shelby County permitting office. Pull permits for structural, electrical, plumbing and mechanical work, and keep the final inspections, since buyers' agents often ask.
Memphis has a vacant property registration requirement, and some Midtown areas sit inside historic overlay districts where exterior changes need review. Rules change over time, so confirm current requirements with the city before you close.
Flip financing in Memphis generally comes from four places: banks and credit unions, local hard money lenders, private individuals and investor lenders like LendingStreet. The details vary by lender, so use this table as a starting guide.
| What flippers need | LendingStreet | Typical bank or credit union | Typical local hard money lender | Private individual lender |
|---|---|---|---|---|
| Leverage on purchase and rehab | Up to 90% of total cost; up to 100% of rehab on some programs | Often lower; rehab funding varies | Varies by lender | Varies by person |
| Closing speed | As little as 10 days | Often several weeks | Often fast | Depends on the individual |
| Loan size | $150,000 to $5M+ | Varies; may limit investor exposure | Varies; large loans can be harder | Limited by the person's capital |
| Property types | 1-8 unit investment properties | Varies | Varies | Varies |
| Income documentation | Business-purpose investor loan | Often requires tax returns | Usually asset-focused | Informal; negotiated |
| Long-term rental option | DSCR refinance with the same team | Varies | Usually short-term only | Usually short-term only |
| Where they lend | All 50 states and DC | Usually a local footprint | Often one region | Usually local |
This example is illustrative and not a quote. An investor buys a 1920s Midtown bungalow that needs a full gut: roof, electrical, plumbing, HVAC, kitchen and baths for $110,000, with a rehab budget of $70,000, for a total project cost of $180,000. The after-repair value, based on recent nearby sales, is $255,000.
The loan covers 80% of the purchase price plus 100% of the rehab, for a loan of $158,000, or about 88% of total cost. The estimated monthly interest-only payment is about $1,317. Over a 6-month hold with about $420 a month in taxes, insurance and utilities, and selling costs of about 7% of the sale price, the estimated profit before income taxes is about $43,980.
If the investor keeps the home instead, a DSCR refinance of the same $158,000 balance at $1,750 a month in rent, with estimated principal and interest of about $1,105 plus about $380 in taxes and insurance, works out to a DSCR of about 1.18x.
| Item | Amount |
|---|---|
| Purchase price | $110,000 |
| Rehab budget | $70,000 |
| Total project cost | $180,000 |
| Loan amount | $158,000 (about 88% of cost) |
| Estimated purchase closing costs | $2,750 |
| Cash to close (down payment and closing costs) | $24,750 |
| Estimated monthly interest-only payment | $1,317 |
| Holding costs over 6 months | $2,520 |
| Total interest over 6 months | $7,900 |
| After-repair value | $255,000 |
| Estimated selling costs | $17,850 |
| Estimated profit before income taxes | $43,980 |
Tennessee charges a recordation tax of $0.37 per $100 on the deed, usually paid by the buyer, and a mortgage tax of $0.115 per $100 of loan amount above $2,000. Those two lines show up on your purchase, and the deed tax shows up again on your buyer's side when you sell. Most Tennessee closings are handled by a title company or closing attorney.
Renovated Midtown and East Memphis homes tend to draw owner-occupant buyers, while flips in lower-priced areas compete more often with investor buyers. Ask a local agent for current days on market in your zip code before you set your holding budget.
Use these questions with any lender you are considering for a Memphis flip, and compare the answers side by side.
| Question | LendingStreet's answer |
|---|---|
| Max leverage | Up to 90% of total cost; up to 100% of rehab on some programs |
| Loan size | $150,000 to $5M+; larger balances reviewed case by case |
| Closing speed | As little as 10 days |
| Entity borrowing | LLC borrowers welcome |
| Units | 1-8 units; 9+ units is commercial |
| Refinance exit | DSCR loan with a 1.0x standard minimum, 620 credit and seasoning that varies by program |
Markets shift, and a well-planned flip has a fallback. If your finished property draws a strong tenant or the sale takes longer than planned, a DSCR refinance can replace the short-term loan.
Our DSCR loans qualify on the property's rent, with no W-2s or tax returns. The standard minimum DSCR is 1.0x, minimum credit is 620 and 30-year terms are available. Rate-and-term reaches 80% LTV on some programs and cash-out reaches 75%, with seasoning that varies by program. Call (877) 298-1001 or use the form below to review both exits.
Our top pick is LendingStreet. We fund 1-8 unit investor flips in Memphis from $150,000 to $5M+, with up to 90% of total cost, up to 100% of rehab on some programs and closings in as little as 10 days, plus a DSCR refinance option if you keep the property.
Yes. We lend throughout the Memphis area, including Shelby, Fayette and Tipton counties, plus DeSoto County, Mississippi, and in all 50 states and DC. Get a quote with the form below or call (877) 298-1001.
Up to 90% of total cost, and up to 100% of the rehab on some programs. Loans run from $150,000 to $5M+, and the final amount depends on the property, the budget and the after-repair value.
We can close in as little as 10 days. Sending the contract, rehab budget and entity documents early helps keep the timeline short.
Both, depending on the neighborhood. Midtown and East Memphis renovations often sell to owner-occupants, while lower-priced areas can make more sense as rentals. LendingStreet can finance the flip and, if you keep it, refinance it into a DSCR loan.
Memphis has a vacant property registration requirement. Confirm with the city whether it applies to your property and how long it can sit vacant during the rehab.
You can refinance into a LendingStreet DSCR rental loan, which qualifies on the property's rent with a 1.0x standard minimum DSCR. Seasoning varies by program, so ask about it before you buy.
No. Our fix and flip loans are business-purpose loans on non-owner-occupied investment property, made to investors who renovate to sell or rent.
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