Experience is one of the biggest factors in flip leverage. But lenders do not take your word for it. They count specific deals, inside a set time window, with paperwork to back them up.
In short: Lenders usually count completed investment deals from the last 24 to 36 months, proven with settlement statements or deeds. Completed flips count most, and many programs also credit rentals you bought and held, ground-up builds, and projects done through an LLC you own. More verified deals generally means higher leverage and better pricing, though each program sets its own tiers.
Most programs count a deal when you bought an investment property, improved or held it, and either sold it or still own it. The common thread is that your name or your entity is on title.
| Activity | Typically counted? |
|---|---|
| Completed flip, bought and sold | Yes, the strongest type of experience |
| Rental bought and still held | Often yes, sometimes weighted less |
| Ground-up build completed | Yes, and often required for construction |
| Deal done through your LLC | Yes, if you own part of the entity |
| Wholesale assignment | Usually no, since you never held title |
| Your primary residence remodel | Usually no |
| Work as a contractor or agent | Sometimes considered, but rarely counted as a deal |
Lenders look at recent activity. A 24 to 36 month window is common, and some programs look back further for rentals still owned.
A flip you sold five years ago may show skill, but it often will not move you up a tier. If your recent activity is light, count every qualifying deal inside the window before you apply.
Plan to prove each deal. A simple spreadsheet with addresses, purchase dates, sale dates and prices speeds things up.
Underwriting then matches that list against public records or the documents you provide.
Here is an example. An investor completed two flips in the last 30 months, owns three rentals bought in the past two years, and did one wholesale assignment.
Most programs would count the two flips and likely the three rentals, for five deals. The wholesale assignment would usually be left out. Depending on how a program weights rentals, this investor could land in a mid or upper experience tier instead of being treated as new.
Programs often group borrowers into tiers, such as no experience, one to two deals, three to four deals, and five or more. Tier cutoffs vary.
Higher tiers do not change the rules, just the math. Leverage on the purchase can rise toward our 90% maximum, pricing can improve, and larger loan amounts become available. First-time investors can still qualify, often with a lower purchase percentage.
Lenders often look at experience by project type. Ten cosmetic flips may not count the same way toward a ground-up build or a heavy conversion.
If your next project is bigger or more complex than your past deals, expect closer review. Showing a similar completed project, even one, often matters more than a long list of easier ones.
Partnering with an experienced investor is the most common approach. If that partner is a member of the borrowing LLC and signs on the loan, their history can often be credited.
A licensed general contractor with a solid resume also helps underwriting get comfortable. Ask our financing team for 2–3 options; programs weigh experience differently, and the spread can be meaningful.
Many programs have a first-time option, so zero completed flips does not automatically disqualify you. Leverage and loan size usually improve as your verified deal count rises.
Often yes. Many lenders count rentals you bought and still own, though some weight them less than completed flips.
Usually yes, if the partner owns part of the borrowing entity and signs on the loan. Each program sets its own rules for crediting partner experience.
A 24 to 36 month window is common. Some programs look back further, especially for rentals you still own.
Settlement statements for purchases and sales, recorded deeds, and LLC operating agreements are the usual proof. A spreadsheet listing each deal makes the review faster.
Usually, if you were on title or owned part of the entity that held the property. Bring the operating agreement or deed that shows your role.
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