St. Louis is a brick town. Its flips are solid red-brick two-family flats, four-family buildings and bungalows that rarely fall down but often need mortar repair, new boilers and an occupancy inspection before anyone can move in.
In short: LendingStreet offers fix and flip loans across St. Louis city and county 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 St. Louis, know whether you are in the independent city or the county, because permits and occupancy inspections differ.
On the south side, Tower Grove South, Bevo Mill, Southampton, Princeton Heights, Holly Hills and Carondelet have brick bungalows, two-family flats and four-families that flip steadily. Soulard, Benton Park, Shaw, Fox Park, the Hill, Dogtown and Clifton Heights command higher prices, and Dutchtown offers lower entry prices with more condition risk.
The City of St. Louis is an independent city, separate from St. Louis County. In the county, Maplewood, Richmond Heights, Webster Groves, Kirkwood and Affton have strong resale markets, while Florissant, Ferguson, Jennings, Overland and St. Ann have post-war brick ranches at lower prices.
| Area | Typical housing | Common rehab scope |
|---|---|---|
| Tower Grove South, Bevo Mill | Brick bungalows and two-family flats | Kitchens, baths, boilers, mortar repair |
| Soulard, Benton Park, Fox Park | Historic brick rowhouses | Historic exterior, structure, systems |
| Maplewood, Affton, Webster Groves | Older singles and bungalows | Kitchens, baths, basements |
| Florissant, Ferguson, Overland | Post-war brick ranches | Cosmetic updates, roofs, HVAC |
Brick homes in St. Louis are durable, but mortar wears out, so mortar joint repair and chimney work are common. Many older homes have boilers and radiators, knob-and-tube wiring and older plumbing that need replacing. Lead paint is common in pre-1978 homes.
Vacant homes in some north city neighborhoods can have missing systems or damaged masonry, so inspect carefully and price a full systems replacement when needed.
A LendingStreet flip loan can fund both the purchase and the renovation of a 1 to 8 unit investor property, from $150,000 up to $5M+. Some programs lend up to 90% of total cost and up to 100% of the rehab, and we can close in as little as 10 days when the file is ready.
The loan is short term and interest-only. Rehab money sits in a holdback and is paid out in draws as each phase passes inspection. Our investor loans are business-purpose loans on non-owner-occupied property.
This example is illustrative and not a quote. An investor buys a brick two-family flat in Bevo Mill that needs two kitchens, two baths, new heating, electrical updates and mortar repair. The purchase price is $150,000, the rehab budget is $85,000 and the after-repair value, based on renovated sales nearby, is $300,000.
At 90% of the purchase price plus 100% of the rehab, the loan is $220,000, about 73% of the after-repair value. The estimated monthly interest-only payment on the full loan is about $1,925, and the plan is a 6-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 $25,700 on roughly $33,300 of cash invested. If the sale takes three months longer than planned, added interest and carrying costs of about $7,275 would cut the profit to about $18,425, which is why a realistic timeline matters as much as the rehab number.
| Item | Amount |
|---|---|
| Purchase price | $150,000 |
| Rehab budget | $85,000 |
| Loan (90% of price + 100% of rehab) | $220,000 |
| Estimated monthly interest-only payment | $1,925 |
| Interest over 6 months | $11,550 |
| Taxes, insurance and utilities | $3,000 ($500 a month) |
| Buy-side closing costs (estimate) | $3,750 |
| Selling costs (about 7%) | $21,000 |
| Sale at after-repair value | $300,000 |
| Estimated profit | $25,700 |
| Cash invested (down payment, closing, carry) | $33,300 |
In the City of St. Louis, building permits and inspections run through the city's building division. In the county, each of the many municipalities has its own building department, and unincorporated areas fall under St. Louis County.
The City of St. Louis and many county municipalities require an occupancy permit or inspection when a property sells or a new tenant moves in, and the requirements vary widely. Check the specific city early, because failed items can delay closing. Some city neighborhoods, such as Soulard and Lafayette Square, have local historic district rules for exterior work.
Missouri has no real estate transfer tax, which keeps closing costs on both ends of a flip lower than in many states. Title, recording and commission costs still apply.
Missouri assesses residential property at a 19% assessment ratio and reassesses in odd-numbered years. The city and county have separate assessors, so ask the right office about the expected bill after your purchase.
The Missouri fix and flip page has more on the program across the state.
Decide before closing whether you plan to sell or hold, and test both. A sale repays the flip loan from the proceeds. A refinance into a DSCR loan replaces the short-term loan with long-term financing based on the property's rent, which is a useful backup if resale prices soften.
St. Louis rents are strong relative to prices, so many investors keep two-family flats as rentals and refinance into a DSCR loan. See the local DSCR loan page for the details.
Lenders look at the deal, the budget and the plan. Gather these before you request terms.
Our team reviews the purchase, the rehab budget, the after-repair value and your exit for 1 to 8 unit projects in St. Louis City, St. Louis County, St. Charles and Jefferson counties. Clear budgets and realistic timelines get the quickest answers.
Start with the form below, or call (877) 298-1001 if you want to talk through a property first.
No. The City of St. Louis is an independent city with its own permits and assessor, separate from St. Louis County and its many municipalities.
Often yes. The city and many county municipalities require an occupancy permit or inspection on sale or when a new tenant moves in, and requirements vary.
No. Missouri does not have a real estate transfer tax. You will still pay title, recording and commission costs.
Yes. Fix and flip loans cover 1 to 8 unit investor properties, including two-family flats and four-family buildings.
Yes, up to 8 units. Buildings with 9 or more units are commercial and are handled under our commercial and multifamily programs.
No. The rehab portion is released in draws after each phase of work is inspected.
You sell and repay the loan from the proceeds, or refinance into a long-term DSCR loan if you keep the property as a rental.
No. Our investor loans are business-purpose loans on non-owner-occupied property.
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