In Boston, the classic flip is not a single-family house. It is a wood-frame two-family or triple-decker in Dorchester, Roxbury, East Boston or a nearby city, renovated top to bottom and sold to buyers or as condos, with lead paint and permits as the two biggest schedule risks.
In short: LendingStreet finances fix and flip projects in Boston and the surrounding cities on 1 to 8 unit investor properties, from $150,000 to $5M+. On some programs we cover up to 90% of total cost and up to 100% of the rehab, close in as little as 10 days and keep payments interest-only. Boston flips need early attention to the state lead law, Inspectional Services permits and the smoke and carbon monoxide certificate required at sale.
Dorchester, Roxbury, Mattapan, Hyde Park and Roslindale hold much of the city's two-family and triple-decker stock, along with Victorian singles. East Boston has wood-frame multi-families close to the airport and the Blue Line, while Jamaica Plain and parts of South Boston and Charlestown are higher-priced markets with heavier competition.
Outside the city line, Quincy, Malden, Medford, Revere, Everett, Lynn and Brockton offer older two- and three-family homes at lower prices, and Somerville and Cambridge sit at the top of the market. Each city has its own permit office and its own pace.
| Area | Typical housing | Common rehab scope |
|---|---|---|
| Dorchester, Roxbury, Mattapan | Triple-deckers, two-families, Victorians | Gut renovations, deleading, systems |
| East Boston | Wood-frame two- and three-families | Full renovations, condo conversions |
| Roslindale, Hyde Park | Singles and two-families | Kitchens, baths, systems, exterior |
| Quincy, Malden, Lynn, Brockton | Older multi-families and capes | Systems, deleading, cosmetic updates |
Most of Boston's investor housing was built before 1940, which means lead paint, old knob-and-tube wiring, steam or hot water heating systems and balloon framing that needs fire blocking during a gut renovation. Triple-deckers have long rear porches and stairs that often need rebuilding to current code.
Massachusetts' energy code requirements can affect insulation, windows and mechanical choices on larger renovations, so involve your contractor and designer early.
LendingStreet fix and flip loans run from $150,000 to $5M+ on 1 to 8 unit investor properties. On some programs the loan covers up to 90% of total cost (LTC) and up to 100% of the rehab budget, and a complete file can close in as little as 10 days.
Payments are interest-only over a short term. The rehab portion is held back at closing and released in draws as work is completed and inspected, so your contractor schedule and your draw requests should line up. Our investor loans are business-purpose loans on non-owner-occupied property.
This example is illustrative and not a quote. An investor buys a dated two-family in Dorchester that needs deleading, new kitchens and baths in both units, a heating upgrade and rebuilt rear porches. The purchase price is $760,000, the rehab budget is $160,000 and the after-repair value, based on renovated sales nearby, is $1,100,000.
At 90% of the purchase price plus 100% of the rehab, the loan is $844,000, about 77% of the after-repair value. The estimated monthly interest-only payment on the full loan is about $7,385, and the plan is a 7-month hold. For simplicity the example assumes the full loan amount accrues interest for the whole hold.
After an estimated 7% in selling costs, the projected profit is about $24,605 on roughly $154,395 of cash invested. If the sale takes three months longer than planned, added interest and carrying costs of about $25,455 would cut the profit to about $-850, which is why a realistic timeline matters as much as the rehab number.
| Item | Amount |
|---|---|
| Purchase price | $760,000 |
| Rehab budget | $160,000 |
| Loan (90% of price + 100% of rehab) | $844,000 |
| Estimated monthly interest-only payment | $7,385 |
| Interest over 7 months | $51,695 |
| Taxes, insurance and utilities | $7,700 ($1,100 a month) |
| Buy-side closing costs (estimate) | $19,000 |
| Selling costs (about 7%) | $77,000 |
| Sale at after-repair value | $1,100,000 |
| Estimated profit | $24,605 |
| Cash invested (down payment, closing, carry) | $154,395 |
In Boston, building permits are issued by the Inspectional Services Department. Full renovations, structural changes and anything that changes the number of units go through plan review, and zoning relief can add months. Surrounding cities each have their own building departments.
If you plan to keep a property as a rental, Boston's rental registration and inspection ordinance applies. If you plan to convert a multi-family into condos, Boston has a condominium conversion ordinance with tenant protections, so check its rules before buying an occupied building.
Massachusetts charges a deed excise tax on sales, customarily paid by the seller, so it hits you when you sell the flip. Before closing, the seller must obtain a smoke and carbon monoxide compliance certificate from the local fire department, and you will need it again when you sell.
Boston's residential exemption reduces the tax bill only for owner-occupants, so an investor-owned property pays the full residential rate. Outside Boston, homes on private septic need a Title 5 inspection at sale, which can turn up a costly system replacement.
For statewide program details, see our Massachusetts fix and flip loan page.
Every flip loan needs a clear exit. Most investors sell the renovated property and repay the loan from the proceeds. The other route is to keep it as a rental and refinance into a long-term DSCR loan, which qualifies on the property's rent instead of your personal income.
Many Boston-area investors keep renovated two- and three-families as rentals and refinance into a DSCR loan qualified on the combined rent of all units. See the local DSCR loan page and the small multifamily pages for how that works.
A complete file gets a faster, clearer answer. Have these ready when you reach out.
LendingStreet lends on 1 to 8 unit investor rehabs across Suffolk, Middlesex, Norfolk, Essex and Plymouth counties. Send the address, purchase price, rehab budget and your after-repair value, and we will size the loan, check the numbers and come back with options.
Use the form below to get a quote, or call (877) 298-1001 to talk through a deal before you make an offer.
The Massachusetts lead law requires deleading when a child under six lives in a pre-1978 home, which affects rentals and buyers with young children. Many flippers delead during the renovation so the property is easier to sell or rent.
By custom the seller pays it, so plan for it when you sell your flip. Ask your closing attorney for the exact figure.
Yes, a 1 to 8 unit conversion can fit a fix and flip loan. Boston's condominium conversion ordinance and zoning rules apply, so confirm them before you buy.
Yes. We finance 1 to 8 unit investor rehabs in Quincy, Malden, Medford, Lynn, Brockton and other nearby cities, subject to normal review.
On some programs, up to 90% of total project cost and up to 100% of the rehab budget. The final amount depends on the deal, the budget and the after-repair value.
As little as 10 days when the contract, budget, entity documents and title are ready.
Yes. Fix and flip loans are short-term, interest-only loans, and rehab funds are released in draws after inspections.
No. Our investor loans are business-purpose loans on non-owner-occupied property.
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