Purchase + Rehab. One Loan.
A fix and flip loan in Roanoke 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 Roanoke specifics: Victorian and bungalow rehab in Old Southwest and Wasena. 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 Roanoke Purchase & Rehab Options →The stock is pre-war Victorians and bungalows in Old Southwest and Roanoke Court, post-war ranches across the valley, and a student rental base in Blacksburg. Victorian and bungalow rehab in Old Southwest and Wasena. Slate roofs, knob-and-tube and lead paint are standard.
Virginia is non-judicial with a fast trustee sale. Roanoke runs at a lower basis than the Northern Virginia and Richmond metros, and the Carilion medical complex produces a stable professional tenant base. Historic-district rules apply in Old Southwest.
Pre-war stock in Roanoke 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.
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 Roanoke metro — Roanoke plus Salem, Vinton, Blacksburg, Christiansburg and Cave Spring — and the rest of Virginia via the Virginia fix and flip page. The active rehab corridors in Roanoke include Old Southwest, Grandin Village, Roanoke Court, Wasena, Williamson Road.
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: Richmond, VA →Virginia Beach, VA →
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.
Slate roofs, knob-and-tube and lead paint are standard. Budget contingency for it.
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.
No credit pull. No commitment. Speak with a licensed financing firm with direct access to 30+ capital sources.
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2-3 competing quotes from 30+ capital sources. No credit pull. No commitment.
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.