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Program 02

Fix and Flip in San Luis Obispo

Fix and flip loans across San Luis Obispo County.

Built for the active flipper. We fund up to 90% of the purchase price and up to 100% of the rehab budget, capped to ARV, on a 6-month interest-only term. San Luis Obispo County is a scope-driven market: basis runs high on the coast and in the county seat, and lower toward the North County cities, so spreads come from the rehab, not the sticker price. Exit friction here is about as light as California gets, with no city add-on to the transfer tax anywhere in the county. Business-purpose only, and every structure is set in underwriting.

Fix and Flip in San Luis Obispo, CA from USA Mortgage
90%
of purchase
100%
of rehab
Same day
term sheet
$5M
max loan

Typical figures, subject to underwriting and market conditions. Not a commitment to lend.

How it works

Draws are reimbursed quickly as work is completed, and a dedicated closer stays with your file from term sheet to payoff. You can get a term sheet the same day, and we typically fund within 48 hours of clear title, so most flips close in 5-7 days as soon as title and insurance come together.

Who it's for
Active fix and flip investors
First-time flippers welcome
Single-family and 1-4 units
Value-add and distressed buys
Auction and on-market deals
Typical terms
Loan amount$100K to $5M
Purchase leverageUp to 90% LTP
Rehab fundingUp to 100%
Term6 months
RateFrom 9.99%*
PaymentsInterest-only
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*Typical terms, subject to underwriting and market conditions.

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Local FAQ

Fix and Flip in San Luis Obispo, answered.

What does my property tax bill look like on a San Luis Obispo County flip, since there's no homestead exemption to soften it?
It resets to your purchase price the day you close, and there is no homestead exemption for an investment property to reduce it. California reassesses on every change in ownership, and the county publishes the actual rate by tax rate area. For the 2024-25 fiscal year, the most recent report published, those ran 1.10515% in the city of San Luis Obispo, 1.11175% in Paso Robles, 1.11119% in Atascadero, and as low as 1.04915% in Arroyo Grande, with Grover Beach the county's highest at up to 1.14515% because of a street-improvement bond running to 2047. A $1,097,597 San Luis Obispo purchase, the July 2026 city median, bills about $12,130 a year at that rate before any direct charges; the same money in Paso Robles at $777,531 bills about $8,644. Budget your holding-period taxes off your own purchase price, not the seller's assessment. Talk to your CPA about your specific tax rate area.
What do I lose to transfer tax when I sell a San Luis Obispo County flip?
$1.10 per $1,000 of sale price, and it is flat across every city in the county, charter city included. Even the city of San Luis Obispo, which is a charter city and could levy its own rate, stacks only the standard $0.55 city plus $0.55 county split. A $1,000,000 sale pays about $1,100 in documentary transfer tax, roughly 0.11% of price, with no equivalent of a Los Angeles or San Francisco surtax anywhere in this county. Separately, if you accept an offer within 18 months of taking title on a 1-4 unit property, California Civil Code section 1102.6h requires you to disclose contractor-performed additions, alterations and repairs, with the contractors' names, to your buyer. Keep contractor records and permits organized from day one so that disclosure is a formality. Our fix and flip loan funds draws as work completes, which gives you that paper trail as you go.
Do I need to budget extra for insurance on a San Luis Obispo County rehab?
Get the quote before you close, because the fire hazard map under your parcel may have changed even if the house hasn't. CAL FIRE's updated Fire Hazard Severity Zone maps were adopted by the city of San Luis Obispo on 2025-06-17 and took effect 2025-07-17, expanding the high and very high zones in rural and wildland-urban interface areas. A parcel that priced as standard coverage in 2024 can now sit inside a zone that changes both the premium and the defensible-space and home-hardening work your rehab scope needs to cover. Coastal North County is the sharpest example: Cambria is the county's FAIR Plan concentration, and the inland wildland-urban interface leans the same way. A FAIR Plan dwelling fire policy is named-peril only, so it still needs a companion liability policy alongside it. Price the rehab off an actual quote on your parcel, not a countywide rule of thumb.
What actually slows a flip down in San Luis Obispo County, permits or something else?
If your flip sits in the Coastal Zone, it's the appeal window after your local approval, not the permit counter. No countywide data on permit timelines or flip counts has been published for this county, so do not underwrite off a number that does not exist. What is documented is the process risk: San Luis Obispo County has a certified Local Coastal Program, so the county issues coastal development permits directly, but a Board of Supervisors decision in the Coastal Zone can still be appealed to the California Coastal Commission within ten working days of the Commission's receipt of the county's Notice of Final Action, with any appeal required to be heard within 49 days. A flip in Cambria, Cayucos, Los Osos or Avila Beach should carry a loan term that survives that appeal window; a flip in an inland incorporated city generally does not face it.
How much do I need to bring to a San Luis Obispo County flip?
About 10% of the purchase, plus closing costs. We fund up to 90% of the purchase price and up to 100% of the rehab budget, capped to ARV, on a 6-month interest-only term. On a $780,000 Atascadero or Paso Robles purchase, near this county's North County basis, that is up to $702,000 from us and $78,000 from you (780,000 x 90% = 702,000), with rehab drawn against the schedule instead of paid up front. Basis runs closer to $1,100,000 in the city of San Luis Obispo and on the coast, so size your own cash needs off your submarket rather than a countywide figure. Subject to underwriting.

More Fix and Flip questions, answered on the program page

Resources

Guides for Fix and Flip

Fix and Flip · 6 min read
Fix and Flip Loan Requirements: What You Need to Get Funded
Read the guide
Strategy · 6 min read
Financing the BRRRR Method: Buy, Rehab, Rent, Refinance, Repeat
Read the guide
Fix and Flip · 5 min read
What Is ARV (After-Repair Value) and How Do You Calculate It?
Read the guide
Rates & Costs · 5 min read
Hard Money Loan Rates and Costs, Explained
Read the guide
Browse all guides
Compare

Fix and Flip vs. other options

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About the local figures on this page

Local rules move. Every tax rate, fee, ordinance and market figure here comes from a primary source and carries the date we read it, and we correct them as the rules change. Where a number is mid-change or we could not verify it, we say so rather than guess. Before you commit a budget, confirm anything that drives it with the city or county, and talk to your attorney or CPA on questions of law or tax.

Published by USA Mortgage Funding, LLC, NMLS #152588. Researched from primary sources by our team, drafted with AI assistance, and every figure checked against its source before publishing. Where an answer rests on a public record, that record is linked under it. Figures read on 2026-08-28.

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