Recently Funded Fix & Flip Loan In Richmond, Rhode Island.

Loan Scenario:

This fix and flip loan in Rhode Island highlights a single-family renovation project located in Richmond. The investor purchased the home for $420,000 and set aside $120,000 for renovations. As a result, American Heritage Lending provided $535,500 in financing, structured as a 12-month interest-only loan. This resulted in a Loan-to-Cost (LTC) of 99.17% and a Loan-to-After Repair Value (LTARV) of 71.40%. Once completed, the property is expected to reach an After Repair Value (ARV) of $750,000.

The borrower, a professional real estate investor, planned a full renovation that combines structural repairs with interior and exterior upgrades. On the exterior, the project includes a complete roof replacement along with structural repairs. In addition, new vinyl siding will be installed, and both the side and back decks will be replaced to improve curb appeal and function.

Inside, the home will receive a complete refresh. First, the project begins with an extensive cleanout. Next, all walls, doors, and trim will be painted. The hardwood floors will be refinished, while new carpet will be installed in the bedrooms. Furthermore, ten interior doors will be replaced, along with all light fixtures, baseboards, and trim. Electrical work includes new outlets and switches throughout. In the kitchen, the cabinets will be refaced, a new backsplash will be added, and a new dishwasher will be installed. Finally, all three bathrooms will be fully renovated with new tubs, toilets, vanities, and fixtures.

Richmond is located in Washington County in Rhode Island’s southwestern corner. As a result, it offers buyers a rural setting with strong community ties while still providing access to larger job centers. Currently, the Rhode Island housing market continues to favor sellers.

Specifically, statewide inventory sits at roughly two months of supply, and median home prices are up more than six percent compared to last year. Because of this, updated and move-in-ready homes remain in high demand. This fix and flip loan in Rhode Island positions the investor to deliver exactly what buyers are seeking a fully renovated, turnkey property with an ARV of $750,000.

This transaction shows how American Heritage Lending supports professional investors pursuing fix and flip loans in Rhode Island and across the country. By providing 99.17% LTC financing with a controlled 71.40% LTARV, AHL allows experienced investors to maximize leverage while keeping loan exposure aligned with projected value. Additionally, the 12-month interest-only structure offers flexibility to complete work ranging from structural roof repairs to full interior upgrades, all while preserving capital throughout the project.