Purchase + Rehab. One Loan.
A fix and flip loan in Grand Rapids funds purchase and renovation in one short-term, asset-based loan — hard money, underwritten on the deal and the after-repair value rather than your income. The Grand Rapids specifics: Pre-war rehab in Creston, Alger Heights and the West Side. Leverage, rehab caps and experience rules vary more between lenders than any other criterion, which is why LendingStreet places the file across thirty capital sources instead of one.
Check My Grand Rapids Purchase & Rehab Options →The stock is pre-war stock in Heritage Hill and Eastown, post-war ranches across the city and suburbs, and a growing medical-corridor tenant base. Pre-war rehab in Creston, Alger Heights and the West Side. Knob-and-tube, roof and foundation moisture are standard.
Michigan forecloses by advertisement — non-judicial — with a redemption period after sale. Grand Rapids runs at a materially higher basis than Detroit with steadier demand from the medical and furniture employment base, and has seen sustained in-migration. Historic-district rules apply in Heritage Hill.
Pre-war stock in Grand Rapids means the scope is rarely what the walkthrough suggests. Budget for the mechanicals — wiring, supply lines, drain lines — before the finishes, and expect the inspector to find what the seller did not disclose.
Standard ranges across our capital sources: $150,000 to $5M+, up to 95% of total project cost, up to 100% of the rehab budget in draws, 6 to 18 months interest-only, 5 to 10 business days to close with 5-day expedited for experienced investors. Full detail and the current rate floor are on the fix and flip loan page. First-time flippers generally see lower leverage.
The Grand Rapids metro — Grand Rapids plus Wyoming, Kentwood, Grandville, East Grand Rapids, Walker and Holland — and the rest of Michigan via the Michigan fix and flip page. The active rehab corridors in Grand Rapids include Eastown, East Hills, Heritage Hill, Creston, Alger Heights.
Size the loan and the cash to close in the ARV calculator, add the carry in the carrying costs calculator, and build the budget in the rehab cost estimator.
Also see: Detroit, MI →Lansing, MI →
The gap between the loan and total project cost, plus points, third-party costs and the rehab you carry between draws. The ARV calculator returns it for your numbers.
Yes, through sources that write them — lower leverage, licensed GC attached.
Knob-and-tube, roof and foundation moisture are standard. Budget contingency for it.
5 to 10 business days on a complete file; 5-day expedited for experienced investors. A BPO in lieu of appraisal is available on bridge structures.
Yes — fix-to-rent. Separate underwrite on rent and appraised value. Run it before you buy.
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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.