Fix and Flip in Waxahachie

A preservation commission review ahead of the building permit, not the contractor. Inside Waxahachie's two historic overlays, the Downtown Historic Overlay and the Oldham Avenue Historic Overlay, a Certificate of Appropriateness from the Heritage Preservation Commission is required before a building permit can issue for alteration, restoration, or new construction. That review sits in front of every other step in the rehab. A flip on a house inside either overlay needs that approval built into the schedule from day one, and a 6-month bridge has to absorb whatever calendar the commission runs on.

About 2.05 per $100 of value, in two lines the county doesn't combine on its own sheet. The Ellis County Tax Office lists Ellis County at 0.255778 per $100 plus a separate Ellis County Lateral Road line at 0.018214, and both hit every parcel. Add the City of Waxahachie at 0.610000 and Waxahachie ISD at 1.168100 and the full stack inside city limits runs about 2.0521 per $100 for 2025. Texas has no homestead exemption and no 10% appraisal cap on non-owner-occupied property, so the parcel is reappraised to market the year you buy it, not eased in. On July 2026's mid-tier Waxahachie value of $371,652, that stack works out to roughly $7,627 a year, assessed value assumed equal to market value.

At purchase. Waxahachie's Zillow mid-tier home value ran $371,652 in July 2026, down about 1.5% year over year, and every large city in Ellis County was flat to negative over the same period. Population is growing roughly 5% a year while values sit still, the pattern of new supply catching up to demand rather than a market bidding up existing resale stock. Underwrite the spread into the acquisition price and the rehab budget; don't plan on appreciation carrying a thin deal to the exit.

Plan around hail, not wind pool. Ellis County sits in inland North Texas hail country and is not in TWIA's coastal wind-pool territory, so the carry conversation here is roof condition, deductible structure, and builder's risk coverage during the rehab rather than coastal wind exposure. No Ellis County-specific average premium has been published; the closest sourced reference points are the nearby Dallas ($4,363) and Tarrant ($3,939) county averages for 2025, both above the statewide average of $3,506. Get a quote against the roof's actual condition before you set your rehab contingency, and budget builder's risk separately while the property is vacant.

Only with a case-by-case approval, unless the house sits downtown. Under Ordinance 3414 (2023-10-16), a short-term rental anywhere in Waxahachie outside the Central Area zoning district needs a Specific Use Permit approved individually by the Planning and Zoning Commission and City Council, on top of $300 annual registration and an annual inspection. A borrower underwriting an STR exit on a house in the Gingerbread district or elsewhere outside downtown needs to know that permit can be denied. Inside the Central Area district, registration alone is enough, which makes the downtown core the one predictable STR zone in the city.

No, it splits by which part of the county you're buying in. Ellis County's rehab inventory is bimodal: pre-war housing stock concentrated in Waxahachie's own historic core, and 1990s-to-2000s stock in cities like Red Oak and Ferris. Only the pre-war stock inside Waxahachie's Downtown and Oldham Avenue overlays carries the Certificate of Appropriateness step ahead of the permit. A comparable rehab outside those overlay boundaries runs on ordinary permitting with no preservation commission review in the path.

We fund up to 90% of the purchase price and up to 100% of your rehab budget, with the total capped against the after-repair value (ARV). Rehab money is released in draws as the work is completed.

Our fix and flip pricing starts around 9.99%, interest-only, with origination typically 1 to 3 points depending on your experience, leverage, and the deal, and every quote is subject to underwriting. Across the market most flip loans run roughly 9% to 12%. On most flip loans, including ours, interest is charged on the full loan amount, rehab budget included. Paying interest only on rehab funds as you draw them exists in the market, but it is the exception, not the rule.

No. We work with first-time flippers as well as full-time operators. Experience mainly affects your leverage and rate, since a longer track record earns higher loan-to-cost and better pricing. A newer investor can still get funded with a sound deal, a realistic budget, and a clear exit.

We can get you a term sheet the same day on a complete application, and we typically fund within 48 hours of clear title. The main variable is how fast title and insurance come together, which is why a full close usually runs 5 to 7 days. Because we are the lender and underwrite in house, there is no second layer of approval to wait on.

No. Our fix and flip loans have no prepayment penalty, so paying off early when the property sells costs you nothing extra. Terms run 6 months, and because there is no penalty, selling sooner never costs you extra.

We run credit, but this is an asset-based loan, so the property, your budget, and the ARV matter most. We do not ask for W-2s or tax returns to qualify a flip. We will want to confirm you have reserves to carry the project to its exit.