Fresno's flip market runs on dated mid-century ranch homes that need a roof, an air conditioner and a kitchen. Buyers priced out of the coast and first-time local buyers want them move-in ready, and that gap is where flippers earn their margin.
In short: LendingStreet funds fix and flip loans on 1-8 unit investment property across Fresno, Clovis and Fresno County, from $150,000 to $5M+. Programs go up to 90% of cost and up to 100% of the rehab budget on some programs, with interest-only payments and closings in as little as 10 days. Rehab funds are released in draws as work is completed, and you exit by selling or refinancing into a DSCR loan.
The steadiest resale demand is for three- and four-bedroom single-family homes priced for first-time buyers, often in central, northeast and southeast Fresno and in older parts of Clovis. Updated 1950s and 1960s ranch homes near Fresno State, McLane and Hoover sell well when the systems are new. Character homes in the Tower District and Fresno High neighborhoods attract buyers who want original details with modern kitchens and baths.
North Fresno and Clovis command higher prices, but buyers there expect newer-home finishes, so the rehab budget per house rises with the price.
Fresno's buyer pool is price-sensitive. Many buyers use loans with strict property condition requirements, so a flip with a new roof, working HVAC, safe electrical and no peeling paint will appeal to more of them. Cosmetic upgrades matter, but systems sell houses here.
A few problems come up again and again in older Fresno houses.
This example is illustrative and not a quote. An investor buys a 1950s ranch home for $245,000. The rehab budget is $70,000, broken out in the table. The after-repair value is estimated at $380,000. The loan covers 85% of the purchase and 100% of the rehab, for $278,250, about 88% of total cost and about 73% of after-repair value.
Assuming the full balance is outstanding for five months, estimated interest-only payments total about $12,173. Taxes and insurance during the project are $2,000, purchase closing costs are $5,000, and selling costs at about 7% are $26,600. Estimated profit is about $19,227.
Notice where the money goes: the roof and HVAC together are more than a third of the budget. In Fresno's heat, buyers and their inspectors focus on those two items first, and skimping on them often costs more in repair credits than it saves.
| Budget line | Amount |
|---|---|
| Roof replacement | $14,000 |
| HVAC replacement | $12,000 |
| Kitchen | $18,000 |
| Bathrooms | $10,000 |
| Flooring and paint | $11,000 |
| Exterior and landscaping | $5,000 |
| Total rehab | $70,000 |
| Loan amount | $278,250 |
| Estimated interest, 5 months | $12,173 |
| Estimated profit | $19,227 |
The City of Fresno, the City of Clovis and Fresno County each run their own permit offices. Roofing, HVAC replacement, electrical panels, plumbing and structural changes typically need permits, and California's energy code applies to many replacements, including HVAC. Closing out permits before you list helps the sale, since buyers' inspectors and agents often check permit history.
If the house has an unpermitted garage conversion, decide early whether to permit it, which may require upgrades, or return it to a garage. Both choices affect the budget and the value.
Clovis and the county also review setbacks and zoning when work changes a home's footprint, so check before adding square footage or a patio cover.
Many Fresno homes have solar panels. If the system is owned, it can add value. If it is leased or financed with a recorded agreement, the buyer may need to qualify to assume it, or the seller may need to pay it off. Find out which you have before you buy, and include any payoff in your numbers.
Ask for the solar contract, the payment history and any transfer requirements from the provider before closing. A clear answer up front prevents a stalled escrow when you sell.
The purchase portion funds at closing. Rehab money is held back and released in draws after an inspector confirms each stage. You or your contractor pay for the first stage, then get reimbursed. Matching contractor invoices to the draw schedule keeps payments moving.
Keep enough working capital to start the next stage while a draw is processing. Most delays on small flips come from crews waiting for payment rather than from the work itself.
California closings run through escrow. Sellers commonly pay the county documentary transfer tax, commissions and part of the escrow and title fees, and you should plan for buyer repair requests after inspection. Price your selling costs into the deal from the start.
Many Fresno buyers ask for repair credits after their inspection, especially for roofs, HVAC and sewer lines. Having receipts, permits and warranties for those systems ready to share can limit those requests and keep escrow on schedule.
If the resale numbers soften, you can refinance a finished Fresno flip into a DSCR loan once it is leased. Remember that the new tax bill will reflect your purchase price and that the rental may need to be registered with the city before it is leased.
Rental registry rules apply inside city limits, so register the property before the first tenant moves in. In Clovis or the county, check the local requirements instead, since they differ from the city's program.
Send the address, purchase price, rehab budget and after-repair value through the form below, or call (877) 298-1001. Our investor loans are business-purpose loans on non-owner-occupied property. We will size the loan and explain the draw schedule.
Photos and contractor bids help us review the scope quickly and size the rehab portion accurately.
Up to 90% of cost and up to 100% of the rehab budget on some programs, also measured against the after-repair value.
In as little as 10 days with a complete file and clear title.
Yes. Flip loans use a valuation that includes the after-repair value.
Yes, but plan to permit it or reverse it. Unpermitted space may not count toward value.
Experience helps with leverage and terms. Newer investors can qualify, often with lower leverage or an experienced contractor.
Yes. We fund flips across Fresno, Clovis and Fresno County communities.
Yes. Loans cover 1-8 unit properties.
Yes. A DSCR loan can pay off the flip loan once the property is leased.
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