Fix & Flip Loans in Richmond, VA for Purchase + Rehab Financing

What a Richmond flip actually involves

The stock is dense pre-1930 rowhouse and Victorian stock in the city, with suburban single-family across Henrico and Chesterfield counties. Church Hill, Northside and Manchester carry the most active rehab pipeline. Rowhouse party walls, lead paint and slate roofs are the recurring budget items.

Virginia is non-judicial with a fast trustee sale, which keeps capital sources comfortable. Richmond city property taxes run materially higher than the surrounding counties, so the same rent produces a different DSCR depending on which side of the line the property sits. Historic-district and Old and Historic overlay rules apply to exterior changes in several city neighborhoods.

Where Richmond flips go wrong

Pre-war stock in Richmond 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.

Scenarios we place in Richmond

Purchase plus rehab in one loan
Sized on total project cost and ARV, whichever binds — in Church Hill and the Fan the ARV cap usually governs; on dense pre-1930 rowhouse and Victorian stock in the city 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 Richmond
Several sources write first-timers at lower leverage with a licensed GC attached; several require completed projects. A first deal in Museum District or Henrico 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 Richmond the tenant base around the Commonwealth 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 Richmond metro — Richmond, Henrico, Chesterfield, Mechanicsville, Midlothian, Glen Allen and Short Pump — to renovate and resell or refinance, with the liquidity to carry work between draws.

What commonly disqualifies in Richmond
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 Richmond

The Richmond metro — Richmond plus Henrico, Chesterfield, Mechanicsville, Midlothian, Glen Allen and Short Pump — and the rest of Virginia via the Virginia fix and flip page. The active rehab corridors in Richmond include Church Hill, the Fan, Museum District, Scott's Addition, Northside.

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: Virginia Beach, VA →Roanoke, VA →

Frequently asked questions

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

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 Virginia? ▼

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

What do Richmond inspectors usually flag on older houses? ▼

Rowhouse party walls, lead paint and slate roofs are the recurring budget items. 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 Richmond? ▼

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

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