Fix & Flip Loans in Portland, OR for Purchase + Rehab Financing

What a Portland flip actually involves

The stock is pre-war bungalows and foursquares across the east side, with newer suburban stock in Washington and Clackamas counties and across the river in Vancouver. East Portland — Lents, Montavilla, Cully — is the active flip corridor. Oil tanks, lead paint and sewer-line replacement are the budget items that surprise out-of-state flippers.

Oregon is non-judicial. It has statewide rent control — annual increases are capped by statute — and Portland adds relocation-assistance requirements on no-cause terminations. Both affect how capital sources model rent growth and exit. Vancouver, Washington, across the river, has no state income tax and different landlord law, which is why some investors underwrite the same metro on the Washington side.

Where Portland flips go wrong

Pre-war stock in Portland 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.

If the property is occupied, Portland's tenant rules govern how and when you can take possession to start work. Build the timeline around the law, not the contract date.

The same metro spans jurisdictions with different permitting, transfer taxes and foreclosure law. Which side of the line you buy on changes the carrying math.

Scenarios we place in Portland

Purchase plus rehab in one loan
Sized on total project cost and ARV, whichever binds — in Lents and Montavilla the ARV cap usually governs; on pre-war bungalows and foursquares across the east side the cost side does. Rehab sits in a holdback and releases in draws after inspection; you carry the work between them.

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 Portland
Several sources write first-timers at lower leverage with a licensed GC attached; several require completed projects. A first deal in St. Johns or Gresham with a documented scope and a local GC is the profile that places most easily.

Small multifamily rehab
Two- to four-unit renovations size on total cost like a single-family, but the DSCR exit is stronger because rent stacks across units. Five-plus moves to commercial underwriting.

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 Portland the tenant base around Intel and the Silicon Forest in Washington County 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 Portland metro — Portland, Gresham, Beaverton, Hillsboro, Milwaukie, Oregon City and Vancouver, WA — to renovate and resell or refinance, with the liquidity to carry work between draws.

What commonly disqualifies in Portland
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 Portland

The Portland metro — Portland plus Gresham, Beaverton, Hillsboro, Milwaukie, Oregon City and Vancouver, WA — and the rest of Oregon via the Oregon fix and flip page. The active rehab corridors in Portland include Lents, Montavilla, St. Johns, Cully, Foster-Powell.

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: Seattle, WA →Los Angeles, CA →

Frequently asked questions

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

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 Oregon? ▼

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

What do Portland inspectors usually flag on older houses? ▼

Oil tanks, lead paint and sewer-line replacement are the budget items that surprise out-of-state flippers. Budget contingency for it.

The property is occupied. When can I start work? ▼

When Portland's tenant rules allow possession, not when the contract closes. Build the carry into the timeline.

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 Portland? ▼

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