How to Get Financing for Fix and Flips or BRRRR Deals in Canada

By Wayne Hillier, Real Estate Investing Masters

August 7, 2025 | Edmonton, Alberta

Securing financing for BRRRRs and fix and flip deals in Canada can feel like a daunting process, especially if you're relying on traditional banks. Between tight underwriting guidelines, long approval timelines, and hesitance around short-term projects, many real estate investors find themselves stuck.

That’s where private lenders come in.

Today, I want to share actionable tips for getting your deals funded, even if you’re newer to investing or the banks say no. We also sat down with Ryan Day from Calvert Home Mortgage Investment Corporation to get insider advice on how their team assesses deals and why private financing might be the best-kept secret for Canadian investors.

Why Private Lending Can Be a Game-Changer for Investors

Private lenders like Calvert Home Mortgage are designed to move fast, think creatively, and fund deals that traditional banks won’t touch. Whether you're flipping a property or planning a BRRRR (Buy, Renovate, Rent, Refinance, Repeat), speed and flexibility matter.

Here’s what makes private lending a powerful tool:

• Fast Approvals – You can often get pre-approved within 24–48 hours.

• Focus on the Deal, Not Just You – Unlike banks that fixate on credit score and T4s, private lenders look at the property, the renovation budget, the after-repair value (ARV), and your exit strategy.

• Short-Term, Project-Based Lending – Perfect for deals with a defined start and end (like a flip or refinance).

In our recent podcast episode, Ryan Day explained:

“We don't just look at the borrower, we look at the whole deal. We want to understand how you're going to exit, what your plan is, and what your numbers look like. It's more collaborative than just saying yes or no.”— Ryan Day, Calvert Home Mortgage

Tips for Getting Approved for Fix & Flip or BRRRR Financing

Even with a private lender, you need to be prepared. Here’s what I recommend for investors who want to secure funding for their next project:

1. Have a Clear Exit Strategy

Lenders want to know how you plan to pay them back, whether that’s through a sale (flip) or a refinance (BRRRR). Have your plan mapped out before applying.

2. Know Your Numbers Cold

You need a detailed budget for your renos, a realistic estimate of the after-repair value (ARV), and a solid understanding of your purchase and holding costs. Sloppy numbers are a red flag.

3. Get Pre-Approved First

Don’t wait until you have an accepted offer. Get pre-approved by your lender so you know your budget and can move quickly when a deal comes along.

“The best investors we work with are the ones who get pre-approved, have their docs in, and are ready to move. That’s how they win deals others can’t close.”— Ryan Day, Calvert Home Mortgage

4. Be Transparent

Private lenders aren’t expecting perfection, but they do expect honesty. If there’s a challenge with the property or your financials, be upfront.

5. Work with a Team That Gets It

You don’t have to go this alone. Align with investor-focused brokers, realtors, and a lender who understands your goals. Calvert, for example, has specific lending products for BRRRR and fix & flip investors across Canada.

How Calvert Home Mortgage Helps Investors Win

Calvert isn’t just a lender, they’re a partner in the deal. They’ll help you analyze your numbers, give guidance on your exit strategy, and move fast when a deal is hot.

They offer:

• Custom lending products for flips and BRRRRs

• Pre-approvals and same-day responses

• Transparent fees and investor-first policies

If you're looking for financing options beyond the bank, Calvert is worth a call. We’ve seen our mentorship students close deals they never thought possible, with just $10,000 down in some cases, thanks to the creative solutions private lenders offer.

Financing doesn’t have to be the bottleneck in your investing journey. With the right preparation, strong numbers, and a lending partner who understands real estate investors, you can confidently fund your next flip or BRRRR, even in a tough lending climate.

Want help getting started?

We coach Canadian investors every day on how to secure financing, structure their deals, and build long-term wealth through real estate.

Let’s get to work.

Listen to Today’s Episode:

Real Estate Investing Morning Show – Hosted by Wayne & Gabby Hillier

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Wayne Hillier - Alberta Real Estate Investing Expert

About the Author

Wayne Hillier is one of Canada’s trusted experts in real estate investing education, specializing in Alberta’s thriving markets. Based in Edmonton, Wayne has over a decade of experience building a high-performing rental portfolio and coaching investors to achieve strong cash flow, sustainable wealth, and creative financing success. As co-founder of Real Estate Investing Masters, Wayne is a respected real estate investing coach and mentor, dedicated to helping Canadian investors confidently scale their portfolios. He is also the host of The Real Estate Investing Morning Show, Canada’s #1 daily podcast.