Fix & Flip Loans in Lansing, MI for Purchase + Rehab Financing

What a Lansing flip actually involves

The stock is pre-war and post-war stock across Lansing at low basis, a dense student rental base in East Lansing, and higher-basis suburban stock in Okemos. Low-basis rehab on Lansing's Eastside and Westside and student-rental conversions in East Lansing. Knob-and-tube and roof are standard.

Michigan forecloses by advertisement — non-judicial — with a redemption period. Lansing runs at a low basis with a stable state-government tenant base; East Lansing is a university market with its own rental licensing and lease timing on the academic calendar. Same metro, two different underwrites.

Where Lansing flips go wrong

Pre-war stock in Lansing 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.

Where renovation exceeds purchase price, the loan sizes on total project cost and ARV, not on purchase. Many national lenders cap rehab near half the purchase price and decline the deal on that alone. Several of our sources write it routinely — it is the single most common Lansing placement.

Scenarios we place in Lansing

Purchase plus rehab in one loan
Sized on total project cost and ARV, whichever binds — in Old Town and Eastside the ARV cap usually governs; on pre-war and post-war stock across Lansing at low basis the cost side does. Rehab sits in a holdback and releases in draws after inspection; you carry the work between them.

Rehab budget larger than purchase price
Routine in Lansing. Sized on cost and ARV. The lenders that cap rehab at half of purchase are simply not the ones we place it with.

Pre-war rowhouse or bungalow with unknown mechanicals
Contingency of 15 to 20 percent on the line items, a licensed GC, and a draw schedule that puts the mechanicals first. Sources that write older stock expect it.

First flip in Lansing
Several sources write first-timers at lower leverage with a licensed GC attached; several require completed projects. A first deal in Westside or East Lansing with a documented scope and a local GC is the profile that places most easily.

Hold instead of sell
Fix-to-rent lets you decide at completion. The DSCR takeout is a second underwrite on rent and appraised value — and in Lansing the tenant base around the Michigan state government is what makes that exit credible. Run it before you buy.

Program terms

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.

Who fits, what disqualifies, what to bring

Who fits
Investors buying a non-owner-occupied property anywhere in the Lansing–East Lansing metro — Lansing, East Lansing, Okemos, Holt, Grand Ledge, DeWitt and Mason — to renovate and resell or refinance, with the liquidity to carry work between draws.

What commonly disqualifies in Lansing
No line-item scope. No licensed GC on a first project. Liquidity that covers the down payment but not points, third-party costs and carry. An ARV the comparables cannot support.

What you will need
Contract, line-item budget by trade, GC bid and license, ARV comparables from the same era of construction, proof of liquidity, entity documents.

What happens next
One application. We place the file against sources whose leverage, rehab cap and experience rule fit, and return terms with the draw schedule spelled out.

Where we lend around Lansing

The Lansing–East Lansing metro — Lansing plus East Lansing, Okemos, Holt, Grand Ledge, DeWitt and Mason — and the rest of Michigan via the Michigan fix and flip page. The active rehab corridors in Lansing include Old Town, Eastside, Westside, Groesbeck, Colonial Village.

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 →Grand Rapids, MI →

Frequently asked questions

How much cash do I need to flip in Lansing? ▼

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.

Do you finance first-time flippers in Michigan? ▼

Yes, through sources that write them — lower leverage, licensed GC attached.

My Lansing rehab costs more than the house. Is that fundable? ▼

Yes. Sized on total cost and ARV. Lenders capping rehab at half of purchase are why it gets declined elsewhere.

What do Lansing inspectors usually flag on older houses? ▼

Knob-and-tube and roof are standard. Budget contingency for it.

How fast can it close? ▼

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.

Can I refinance into a rental loan instead of selling in Lansing? ▼

Yes — fix-to-rent. Separate underwrite on rent and appraised value. Run it before you buy.