Loan Scenario:

Seasoned flippers move quickly, and they expect their lender to move with them. This professional investor, with a portfolio of similar completed projects behind them, identified a single-family home in Waukegan, Illinois with clear upside and needed leverage aggressive enough to keep their own capital working across multiple deals. The plan was a full-scope renovation followed by a resale, and the numbers had to support both the acquisition and the rehab.

American Heritage Lending structured a 12-month interest-only fix and flip loan of $189,000 against a property valued at $190,000, with a $70,000 rehab budget aimed at a $270,000 after-repair value. That put leverage at 98.95% of cost while holding to 70% of the ARV, a balance AHL was comfortable extending given the borrower’s track record. The scope of work was comprehensive, covering the kitchen, bathrooms, flooring, windows, plumbing, fixtures, and a full clean-out and demo.

Waukegan sits on the Lake Michigan shoreline in northern Illinois, midway between Chicago and Milwaukee, and its mix of affordable housing stock and ongoing waterfront revitalization has made it a magnet for value-add investors. Renovated single-family homes in these established neighborhoods tend to attract both first-time buyers and move-up families, supporting healthy resale demand. AHL finances flips across Illinois for investors who can execute on scope and timeline. Experienced operators can line up their next project through our financing team.

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