The process: 1) analyze the deal (70% rule) → 2) build the scope of work → 3) apply → 4) ARV appraisal → 5) term sheet → 6) close & fund (5–14 days) → 7) renovate with draws → 8) sell or refi. See Requirements.
On this page
The 8 steps to a completed flip
Analyze the deal
Run the 70% rule before you offer — purchase ≤ ARV × 0.70 − rehab. Calculator →
Build the scope of work
Detailed rehab budget + licensed contractor estimates + 15–20% contingency. This sizes your draws.
Apply & submit the package
Contract, scope of work, ARV comps, proof of funds, entity docs. No tax returns.
Get the ARV appraisal
Appraiser returns as-is + after-repair values that confirm your caps.
Review the term sheet
Loan amount, LTC/ARV terms, rate, points, draws, Dutch vs non-Dutch — shopped across lenders. Rates →
Close & fund
Sign and fund in 5–14 days; purchase funds now, rehab held for draws.
Renovate with draws
Build in stages, submit receipts, receive reimbursement draws as milestones verify.
Sell or refinance
Sell to capture profit, or refi into DSCR to hold as a rental (BRRRR).
What's needed at each stage
| Stage | What you provide / expect |
|---|---|
| Deal analysis | Purchase price, rehab estimate, ARV comps |
| Scope of work | Line-item rehab budget, contractor bids, contingency |
| Application | Contract, scope, comps, proof of funds, entity docs |
| Appraisal | As-is + after-repair value |
| Term sheet | Loan amount, rate, points, draws, interest type |
| Closing | Signed docs, purchase funds |
| Rehab | Milestone completion + receipts → draws |
| Exit | Sale escrow, or DSCR refinance |
Reviewed by the licensing team at Save Financial, a California-licensed mortgage brokerage (NMLS #377740, DRE #01875766) founded in 2009 and serving all 58 counties from offices in Newport Beach and Marina del Rey.