Your First Flip Financing Review: What to Submit

You can request a financing review for your first flip without presenting a history of completed deals. The useful starting point is a property that can be understood: what it costs, what needs repair, who will do the work, what supports its finished value, and how you plan to repay the loan.

The First Flip Funding Review helps organize that conversation with Jaken Finance Group. Tell us it is your first project and identify the information you have verified. A review can clarify financing fit and missing items; it is not an approval or commitment to fund.

If you are still searching, start with the first-flip readiness checklist. Use it to set your budget and prepare your team before submitting a specific property.

Start with the transaction you actually have

A listed property, an accepted offer, and a signed purchase contract represent different stages. State which applies. Include the property address, asking or agreed price, proposed buyer, deposit status, and contract deadlines where applicable.

Describe the intended occupancy. This path is for a non-owner-occupied investment project. If you plan to live there, say so before discussing financing. Do not assume a loan discussed for an investment flip fits a change in use.

Note who can provide access for inspections, contractor visits, and valuation. Disclose tenants, an occupied property, an auction purchase, an assignment, or a seller who cannot provide normal access. Those facts affect the work needed to evaluate the transaction.

Keep one current version of the contract and amendments together. A seller’s verbal willingness to extend is different from a documented change. Report the deadline shown in the actual agreement and identify any extension still being discussed.

Write a brief, accurate borrower introduction

Say how many investment flips you have completed. If that number is zero, use zero. Then describe relevant experience accurately: managing rental repairs, working in a trade, coordinating projects, or working alongside another investor.

Separate your own responsibilities from someone else’s achievements. A contractor’s past projects can help explain who will execute the work. A mentor may help review decisions. Neither relationship automatically establishes your experience or a financial commitment to this deal.

Explain your availability. Who visits the site, approves changes, checks invoices, and responds when work stops? A first project managed around another job needs a practical answer to those questions.

If a partner will contribute money, manage work, own part of the borrowing entity, or guarantee debt, state the proposed role. Identify what is agreed and what remains under discussion. Do not count an informal expression of interest as committed project capital.

Connect condition, work, and finished value

Provide current photos that explain the building’s condition, including damaged or unfinished areas. Add inspection findings and known issues with the roof, foundation, utilities, additions, or prior alterations. Mark rooms or systems that have not been inspected.

Then connect each planned improvement to the proposed finished property. If the plan adds a bathroom or converts space, identify the needed design, permission, and cost assumptions. A future feature should not quietly appear in the value estimate while remaining absent from the repair budget.

After-repair value, or ARV, is your estimate of the property’s value after the proposed work. Keep it separate from the property’s current condition and value. Federal banking agencies’ appraisal guidance distinguishes current as-is value from prospective value after construction or renovation. That distinction is useful for organizing the file; the proposed lender determines its own valuation requirements. Interagency Appraisal and Evaluation Guidelines

For comparable sold properties, record the address, sale date, price, size, layout, location, and visible finish level. Explain important differences. A higher-priced renovated house needs a reason to belong in the comparison beyond sharing a ZIP code.

Label your supported estimate as an estimate. Send the evidence and ask how the lender will assess value. Your research helps explain the proposal; it does not replace the lender’s required review.

Show who owns each part of the repair plan

Prepare a line-item scope showing the work, estimated cost, and contractor status. The scope-of-work submission guide provides a starting structure.

Keep this part of the financing packet focused on responsibilities:

Question	Information to provide
Who priced the work?	Dated bid, contractor name, and property visit status
What is excluded?	Missing trades, allowances, permits, and unresolved conditions
Who manages the project?	Named decision-maker and site-supervision plan
What experience is relevant?	Comparable work completed by the proposed contractor
What could change timing?	Access, permit questions, materials, and scheduling conflicts

If you plan to do work yourself, identify the tasks and your qualifications. Ask how the proposed program treats your labor, materials, and reimbursement. Do not insert an assumed labor payment into the funding plan before that question is answered.

Reconcile conflicting totals before submission. A contractor bid, spreadsheet, and summary that show three repair budgets create an avoidable question about which project is being financed.

Document cash available to this project

Give the amount available, its source, and the date of the balance. Explain partner contributions, borrowed funds, restrictions, and money already committed to other obligations. A future sale or expected transfer should be shown separately from cash currently accessible.

Use the readiness cash worksheet to separate the closing contribution, ongoing carrying costs, repair contingency, and bills due before rehab reimbursements. Identify which figures are estimates pending a loan proposal.

Have supporting statements ready for the designated intake process. Avoid placing account numbers or identity documents in a general deal summary. Ask which documents and dates are required for the next stage of review.

The financing question is broader than whether you can make the closing wire. Explain how you will keep the project moving after closing, including a delay. The reviewer should be able to connect available funds with the responsibilities you have described.

Make entity names and authority consistent

Identify the proposed borrower and provide its formation status. If an entity is already formed, organize its formation documents, ownership information, operating agreement where applicable, and requested tax-identification records.

When creating an entity, the IRS instructs applicants to register it with the state before applying for an employer identification number, or EIN. It also directs applicants to use the business name shown in the formation documents. IRS EIN guidance

Compare that name with the purchase contract and proposed title ownership. Flag differences for the lender, closing professional, and your advisers. Do not assume a contract can simply be moved into a newly formed entity without reviewing the transaction’s requirements.

Ask for a decision about the next step

Submit a short summary backed by clearly labeled files. Put these questions at the end:

1. Does this property, scope, and first-time borrower profile fit a program you can review?
2. Which missing items prevent the next decision?
3. What valuation and contractor review are needed?
4. How will the proposal separate acquisition funding, rehab funds, and borrower cash?
5. What conditions remain before a funding commitment?
6. Can the proposed timetable accommodate the documented closing deadline?

State whether the intended repayment is a sale or a rental refinance. Include the assumptions supporting that choice, while leaving detailed exit testing in the project budget. An expected future refinance should not be presented as already approved.

After feedback, update the changed facts and resend a clearly dated version. If the price changes, refresh the financing request. If the scope changes, refresh the budget and value support together. This keeps the conversation about one current deal.

Review the First Flip Funding Review before assembling your submission. Have a property ready to discuss? Submit your first-flip scenario with the address, price, repairs, value support, team, cash, exit, and deadline. Still looking? Complete the first-flip readiness worksheet and turn the unanswered questions into your preparation list.