A Manchester flip usually means one of two things: a tired cape or ranch on the West Side or in the South End, or a two- or three-family that needs every unit redone. Both can work, but both come with old-house problems that need to be in the budget from day one.
In short: LendingStreet funds fix and flip loans on 1-8 unit investor properties in Manchester and nearby towns from $150,000 to $5M+, with up to 90% of cost and up to 100% of the rehab budget on some programs. Loans are short-term and interest-only and can close in as little as 10 days. You exit by selling or by refinancing into a DSCR rental loan.
Capes, ranches and small colonials built from the 1920s through the 1960s show up across the West Side, Gossler Park, the South End and the East Side. They tend to need kitchens, baths, flooring, windows and heating updates. Multi-families need the same work times two or three, plus porches, stairs and fire separation.
In Bedford, Goffstown and Hooksett, flips are more often 1970s to 1990s homes needing cosmetic updates, with higher resale prices but thinner spreads.
Estate sales are a common source of flip properties in Manchester, since many homes have been owned by the same family for decades. They often come with original systems, full basements of belongings and probate timelines. A seller who wants a fast, clean close may accept a lower price from an investor who can deliver it.
Multi-family flips often sell to other investors rather than to owner-occupants, so the after-repair value depends heavily on the rents the finished units will command. Lease the units before listing if you can. Signed leases at market rent give buyers, and their lenders, confidence in the price.
Manchester's housing is old, and the surprises are predictable. Build these into your scope and contingency.
Fix and flip loans are sized on total cost and limited by after-repair value.
| Piece | How it works |
|---|---|
| Purchase | Up to 90% of price on some programs |
| Rehab | Up to 100% of budget on some programs, paid in draws |
| Term | Short-term, interest-only |
| Closing | As little as 10 days |
| Exit | Sale, or refinance into a DSCR loan |
This example is illustrative and not a quote. An investor buys a 1950s cape on the West Side for $285,000 and budgets $75,000 for a kitchen, bath, flooring, a new gas furnace replacing an old oil system and lead-safe window replacement. The after-repair value is estimated at $430,000.
Total cost is $360,000. Financing 90% of the purchase ($256,500) and 100% of the rehab brings the loan to $331,500, about 77% of after-repair value. Estimated interest is about $2,624 a month when fully drawn. Over a 6-month project with staged draws, assume interest of about $11,022. New Hampshire transfer tax applies at both ends: about $2,138 as buyer and about $3,225 as seller. With selling costs of about $25,800, the estimated margin before income taxes is about $27,815.
| Item | Amount |
|---|---|
| Purchase price | $285,000 |
| Rehab budget | $75,000 |
| Loan (90% of purchase, 100% of rehab) | $331,500 |
| Estimated interest over the project | $11,022 |
| Transfer tax, buyer and seller halves | $5,362 |
| Selling costs | $25,800 |
| After-repair value | $430,000 |
| Estimated margin | $27,815 |
New Hampshire charges $0.75 per $100 of price on both the buyer and the seller. A flipper pays the buyer half when purchasing and the seller half when selling, so the tax effectively applies to both transactions. It is not large on any single deal, but it belongs in every flip budget here.
Other closing costs are similar to most states: title insurance, recording fees, attorney or settlement fees and lender closing costs. Budget them on both the purchase and the sale, and remember that a buyer in a hurry may ask you to cover some of their costs at resale.
Exterior work such as roofing, siding, porches and paint goes best from spring through fall. Interior work can run all winter, but vacant houses need heat to protect pipes. Plan your term with some slack, and line up trades early; licensed electricians and plumbers in southern New Hampshire are busy.
Manchester requires permits for structural, electrical, plumbing and mechanical work, and multi-family buildings have fire and life safety requirements such as smoke and carbon monoxide detection and egress. Draws go faster when permits are posted and inspections are passed on schedule.
Converting a single-family into a two-family, or adding a unit to a multi-family, is a zoning question first. Check with the city planning and zoning office before you price a conversion into your after-repair value. A unit added without approval will not count toward value or rent.
If the resale market slows, a renovated Manchester home or multi-family can be refinanced into a DSCR loan based on rent. Multi-families are especially good candidates because several rents support the payment. Plan finishes with both exits in mind: durable flooring and separate utilities help a rental, while a renovated kitchen and bath help a sale.
Run the rental numbers before you buy, not after. If the finished property would rent well enough to clear 1.0x on a DSCR loan, you have a fallback if the sale takes longer than planned. Our Manchester DSCR page explains how rents, taxes and heat costs factor into that refinance.
Our investor loans are business-purpose loans on non-owner-occupied property. Send the address, price, line-item budget, contractor and your experience. Newer investors can qualify on some programs, often with lower leverage or an experienced contractor. Call (877) 298-1001 or use the form below. See our New Hampshire fix and flip page for statewide details.
Up to 90% of the purchase and up to 100% of the rehab on some programs, within after-repair value limits.
In as little as 10 days with a complete file.
Yes. The seller pays $0.75 per $100 of the price, just as the buyer does when purchasing.
In pre-1978 homes, renovation work must follow lead-safe practices, and state law can require abatement in some situations. Budget for it.
Yes, on 2-8 unit properties, as well as single-family homes.
In draws after an inspector confirms the work, so interest is charged only on what has been drawn.
Yes on some programs, often with lower leverage and an experienced contractor.
Many investors do, because buyers, insurers and lenders often ask about them. Put testing and removal in the budget as a line item so it can be paid through a draw.
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