Oklahoma City's low entry prices make flips work on modest brick ranches, but the projects that go wrong usually go wrong underground or overhead: foundations moving on clay soil and roofs beaten up by hail.
In short: LendingStreet offers fix and flip loans across the Oklahoma City metro on 1 to 8 unit investor properties, from $150,000 to $5M+. On some programs the loan covers up to 90% of total cost and up to 100% of the rehab, payments are interest-only and closings can happen in as little as 10 days. In OKC, budget for foundation work, roofs and storm-related insurance before you count on resale profit.
The urban core has historic neighborhoods such as Mesta Park, Heritage Hills, Crown Heights and the Paseo, with 1920s and 1930s homes that sell at higher prices once renovated. Nearby Capitol Hill and parts of south OKC offer lower entry prices.
Midwest City, Del City, Warr Acres and Bethany have large stocks of 1950s through 1970s brick ranches that make up much of the flip market. Edmond to the north and Moore and Norman to the south in Cleveland County have newer suburban homes, and Yukon and Mustang in Canadian County add growing western suburbs.
| Area | Typical housing | Common rehab scope |
|---|---|---|
| Mesta Park, Crown Heights, Paseo | 1920s-1930s bungalows and Tudors | Systems, foundations, historic exterior |
| Midwest City, Del City, Warr Acres | 1950s-1970s brick ranches | Kitchens, baths, roofs, foundations |
| Capitol Hill, south OKC | Older small homes | Full updates, structure, exterior |
| Edmond, Moore, Yukon | 1980s-2000s suburban homes | Cosmetic updates, flooring, HVAC |
Much of central Oklahoma sits on expansive clay soils that swell when wet and shrink when dry, which moves slab and pier foundations. Diagonal cracks in brick, sticking doors and uneven floors are signs to get a foundation evaluation before you buy.
Hail and severe storms are routine, so many roofs have been replaced or need replacement. Buyers in the metro also value storm shelters or safe rooms, and adding one can be a selling feature on a family home.
Our fix and flip program covers single-family homes and 2 to 8 unit buildings, with loans from $150,000 to $5M+. Depending on the program, financing can reach 90% of the total project cost and 100% of the renovation budget, and closings can happen in as little as 10 days.
You pay interest only while you own the property. Renovation funds are released through a draw process after each stage of work is inspected, rather than all at once. Our investor loans are business-purpose loans on non-owner-occupied property.
This example is illustrative and not a quote. An investor buys a three-bedroom 1960s brick ranch in Midwest City that needs a roof, foundation repair, a kitchen, a bath and flooring. The purchase price is $140,000, the rehab budget is $45,000 and the after-repair value, based on renovated sales nearby, is $240,000.
At 90% of the purchase price plus 100% of the rehab, the loan is $171,000, about 71% of the after-repair value. The estimated monthly interest-only payment on the full loan is about $1,496, and the plan is a 4-month hold. For simplicity the example assumes the full loan amount accrues interest for the whole hold.
After an estimated 7% in selling costs, the projected profit is about $27,115 on roughly $25,085 of cash invested. If the sale takes three months longer than planned, added interest and carrying costs of about $5,689 would cut the profit to about $21,426, which is why a realistic timeline matters as much as the rehab number.
| Item | Amount |
|---|---|
| Purchase price | $140,000 |
| Rehab budget | $45,000 |
| Loan (90% of price + 100% of rehab) | $171,000 |
| Estimated monthly interest-only payment | $1,496 |
| Interest over 4 months | $5,985 |
| Taxes, insurance and utilities | $1,600 ($400 a month) |
| Buy-side closing costs (estimate) | $3,500 |
| Selling costs (about 7%) | $16,800 |
| Sale at after-repair value | $240,000 |
| Estimated profit | $27,115 |
| Cash invested (down payment, closing, carry) | $25,085 |
The City of Oklahoma City's Development Center handles building permits inside city limits, and Edmond, Midwest City, Del City, Moore, Norman and other cities run their own offices.
In OKC's historic preservation districts, including Heritage Hills and Mesta Park, exterior changes generally need a certificate of appropriateness from the Historic Preservation Commission. Factor review time into projects in the urban core.
Oklahoma charges documentary stamp tax on deeds based on the sale price, customarily paid by the seller, so plan for it when you sell. Recording and title costs are generally moderate.
Oklahoma counties assess real property at a fraction of market value, an assessment ratio set by each county within state limits, and the homestead exemption applies only to an owner's home. Ask the Oklahoma County Assessor how a sale affects the next bill. Wind and hail deductibles can be high, so get insurance quotes early.
Our Oklahoma fix and flip page covers the program statewide.
When the work is done, you can list the property and pay off the loan at closing, or you can lease it and refinance into a DSCR loan with a 30-year term available, qualified on the rent rather than W-2s or tax returns.
OKC rents are healthy relative to prices, so a DSCR refinance is a practical alternative to selling a renovated ranch. See the local DSCR loan page for how those loans size.
The more of this you have on day one, the sooner we can size the loan and schedule closing.
We finance investor rehabs throughout Oklahoma, Cleveland, Canadian and Logan counties. Share the deal basics, including price, scope, budget and timeline, and the team will review the file and lay out the loan amount and next steps.
Request a quote with the form below or call (877) 298-1001.
Yes. Expansive clay soils move many foundations in central Oklahoma. Get a foundation evaluation before you buy and include repairs in your rehab budget.
The roof is part of your rehab scope and your insurance quote. Older or damaged roofs can raise premiums, so many flippers replace them.
It is a tax on deeds based on the sale price, customarily paid by the seller. Ask your title company for the exact amount.
Yes. We finance 1 to 8 unit investor rehabs across the metro, including Edmond, Moore, Norman, Yukon and Mustang, subject to normal review.
Fix and flip loans run from $150,000 to $5M+ on 1 to 8 unit investor properties.
It is held back at closing and released in draws as work is completed and inspected.
Yes. Many investors refinance into a DSCR loan that qualifies on the property's rent, with no W-2s or tax returns.
Yes. LLC borrowers are standard on our investor loans.
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