Purchase + Rehab. One Loan.
A fix and flip loan in Lubbock 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 Lubbock specifics: Student-rental conversions near Tech and cosmetic ranch flips in Southwest Lubbock. 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 Lubbock Purchase & Rehab Options →The stock is post-war ranches across the city, a dense student rental base in Tech Terrace and Overton, and newer subdivisions southwest. Student-rental conversions near Tech and cosmetic ranch flips in Southwest Lubbock. Roof replacement after hail is the most common scope item.
Texas is non-judicial. Lubbock is a university town where lease timing follows the academic calendar and student-oriented properties underwrite differently from family rentals. Hail is the dominant insurance driver on the South Plains. Property taxes are high.
Insurability at resale is the exit risk in Lubbock. A buyer's lender will require coverage; if the roof, windows or elevation make the property hard to insure, the ARV you underwrote may not be the price you clear. Price the insurance-driven improvements into the scope.
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 Lubbock metro — Lubbock plus Wolfforth, Shallowater, Slaton and Levelland — and the rest of Texas via the Texas fix and flip page. The active rehab corridors in Lubbock include Tech Terrace, Overton, Heart of Lubbock, Southwest Lubbock, Maxey Park.
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: Austin, TX →Houston, TX →
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.
Only if the scope addresses what carriers price — roof age, openings, elevation. Confirm before you close on the purchase; it is the exit.
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.