Bend's flips are rarely gut jobs on century-old houses. More often they are tired 1970s through early-2000s homes on the east side or in Redmond that need kitchens, baths, siding, decks and a roof, in a market where buyers expect finishes that match the newer subdivisions around them.
In short: LendingStreet funds fix and flip loans on 1-8 unit properties in Bend, Redmond and across Deschutes County from $150,000 to $5M+, with up to 90% of cost (LTC) and up to 100% of the rehab budget on some programs. Loans are short-term and interest-only, can close in as little as 10 days, and exit by sale or by refinancing into a DSCR loan if you decide to keep the home as a rental.
The east side, southeast Bend and the older parts of Redmond hold most of the flip inventory: ranch and split-level homes from the 1970s and 1980s, plus 1990s and early 2000s two-story homes with original builder finishes. Old Bend and the neighborhoods near downtown have older bungalows and cottages that sell at a premium once restored, but purchase prices there leave less room.
Buyers in Bend compare a flip to the new construction in NorthWest Crossing, Discovery West or the Redmond subdivisions. Dated layouts, low ceilings and small garages are the hardest things to fix; finishes, flooring, lighting and outdoor living space are the easiest ways to close the gap.
| Flip type | Where you find it | Typical scope |
|---|---|---|
| 1970s-80s ranch or split-level | East side Bend, older Redmond | Kitchen, baths, windows, siding, roof |
| 1990s-2000s two-story | Southeast Bend, Redmond subdivisions | Cosmetic update, flooring, fixtures, deck |
| Older bungalow or cottage | Old Bend, near downtown | Systems, foundation, careful restoration |
| Home on acreage | Tumalo, Deschutes River Woods, Terrebonne | Well, septic, outbuildings, defensible space |
Bend's selling season runs strongest from spring into early fall, when buyers relocating from Portland, California and the Puget Sound area are touring. Winter brings snow, shorter days and fewer showings, and exterior work like roofing, siding and concrete gets harder and slower.
Many local flippers buy in late summer or fall, do interior work over the winter and list in spring. If you buy in spring instead, plan a tight scope so you can list before the market cools. Contractors and roofers book out in summer, so line up your crew before you close.
This example is illustrative and not a quote. An investor buys a 1980s ranch on Bend's east side for $485,000 with a $95,000 rehab budget covering the kitchen, two baths, flooring, exterior paint and a new deck. The after-repair value, supported by recent comparable sales, is $715,000.
The loan funds 100% of the rehab and about 88% of the purchase price, for $522,000 in total, which is 90% of total project cost and about 73% of after-repair value. Rehab funds are released in draws after inspections, so actual interest is usually lower than the full-balance estimate shown here.
After estimated interest, holding costs, buying costs and selling costs, the projected profit is about $44,725 on roughly $98,225 of the investor's own cash. A one- or two-month delay costs real money, which is why winter scheduling matters here. If the after-repair value comes in 5% lower than planned, most of that profit disappears, so be conservative with comparable sales and avoid pricing off the newest subdivision homes.
| Line | Amount |
|---|---|
| Purchase price | $485,000 |
| Rehab budget | $95,000 |
| Loan: 100% of rehab plus 88% of purchase | $522,000 |
| Loan as a share of total cost | 90% |
| Loan as a share of after-repair value | 73% |
| Estimated interest, 6 months on full balance | $27,405 |
| Taxes, insurance, utilities while holding | $3,120 |
| Buying costs (about 2%) | $9,700 |
| Selling costs (about 7%) | $50,050 |
| Estimated profit before income taxes | $44,725 |
| Approximate cash the investor puts in | $98,225 |
Inside city limits, the City of Bend handles building permits; outside, Deschutes County does, and Redmond has its own building division. Structural changes, electrical, plumbing, re-roofing in some cases and new decks usually need permits. Buyers and their appraisers look at permit history, and unpermitted additions are a common reason a Bend sale slows down.
If your scope adds a bedroom, an ADU or a second unit, ask early about system development charges and zoning. Adding a legal ADU can raise both resale value and rental value if you later hold the property.
Buyers in Central Oregon increasingly ask about wildfire. Clearing brush and juniper near the house, replacing a wood shake roof, adding ember-resistant vents and using non-combustible materials near the foundation are improvements that help a listing and can help the next owner insure the home.
For your own builder's risk or vacant property coverage during the rehab, get a quote before closing. Homes on acreage in Tumalo or Deschutes River Woods can be harder to insure than homes inside the city.
Many homes around Bend sit on an acre or more with a private well and septic system, especially in Deschutes River Woods, Tumalo and toward Terrebonne. Budget for a well flow test, a septic inspection and possibly a septic upgrade. These systems can change your rehab budget and your sale timeline.
Property type and acreage limits vary by program. Tell us early if the home is on larger acreage or has outbuildings.
Some Bend flips end up as rentals because the rent is strong, the market slows, or the investor wants to hold. In that case you can refinance the fix and flip loan into a 30-year DSCR loan that qualifies on the property's rent. Run the DSCR numbers before you buy so that both exits work.
Bend's rent-to-price ratio is tighter than many markets, so a flip that pencils as a sale may need a lower loan amount to work as a rental. A finished ADU can make the hold option much stronger.
We look at the purchase price, the rehab budget and scope, the after-repair value supported by comparable sales, your experience and the exit plan. Newer investors can qualify, though leverage may be lower until you have completed projects.
Send the address, purchase price, rehab budget and target after-repair value. We can often give you terms quickly so you can make a clean offer. Call (877) 298-1001 or use the form below.
Up to 90% of cost (LTC) and up to 100% of rehab on some programs, from $150,000 to $5M+, subject to the after-repair value and your experience.
In as little as 10 days when the title, insurance and property information are ready.
Not necessarily. Winter is slower for exterior work and showings, so many investors do interior work then and list in spring. Plan holding costs for the timeline.
Yes. We fund 1-8 unit flips across Central Oregon, subject to the $150,000 minimum loan size.
Often yes, but acreage and property type limits vary by program, and you should budget for well and septic inspections.
Yes. You can refinance into a DSCR loan that qualifies on the rent, if the numbers clear the program minimum.
Experience helps with leverage and pricing, but newer investors can qualify with a solid budget, a good contractor and a realistic exit.
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