South Carolina Fix and Flip Lenders
Are you flipping residential properties in South Carolina? On this page you'll find a list of fix and flip lenders throughout South Carolina. Fix & flip lending is only for residential properties with 1-4 units. We have a separate page for lenders that offer rehab/value-add financing for other property types. The maximum loan-to-after repair value (LTARV) for most lenders in South Carolina is 70%. You typically need some cash for the purchase (15%-20%) and some cash reserves.Searching...
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Malve Capital LLC
Fast And Easy Real Estate Loans. Closing as fast as 5 business days, subject to clear title.
RBI Private Lending
Direct lender, specialized in Bridge, Fix and Flip and Construction. FN and new investors welcome.
Funded Fix & Flip Loans in South Carolina
Fix & Flip Loan for Home Near Lake Murray in Columbia, South Carolina
$213,000
Malve Capital, a real estate private lending fund, funded a $213,000 1st lien position fix and flip loan for a single-family home in Columbia, South Carolina, close to Lake Murray. We funded 100% of the $60,000 renovation budget and 75% of the $205,000 purchase price, while the Borrower contributed 25% cash to the purchase at closing. The after-repair value was estimated at $330,000 so our loan-to-after-repair value was 65%. The Borrower plans to sell the property as an exit strategy. The Borrower had good credit. They have worked on other house flip projects in the same area, close to the Lake. The interest rate was 12% and we charged 2% origination points. The loan term was set at 12 months. This SFR fix and flip loan was funded in January 2024.Â
Malve Capital, a real estate private lending fund, funded a $214,000 1st lien position fix and flip loan for a single-family home in Columbia, SC, near Lake Murray. We funded 100% of the 90,000 renovation budget and 60% of the $207,000 purchase price, while the Borrower contributed 40% cash to the purchase at closing. The after-repair value was estimated at $345,000 so our loan-to-after-repair value was 62%. The Borrower plans to sell the property as an exit strategy. The Borrower had good credit and had experience flipping properties in the same area. The interest rate was 12% and we charged 2% origination points. The loan term was set at 12 months. This SFR fix and flip loan was funded in January 2024.Â
RCN Capital, a national direct private lender, funded a $700,300 1st lien position fix and flip loan for a single-family home in Chapin, South Carolina. We funded 100% of the $126,100 renovation budget and 60% of the $638,000 purchase price, while the Borrower contributed 40% cash to the purchase at closing. The after-repair value was estimated at $1,200,000 which results in a 58% loan-to-after-repair value. The property was appraised for $950K as-is. Per the appraiser, the as-is and the ARV appear to be overstated by about $50,000. The Sponsor had good experience, credit, and liquidity to complete this project. This repeat Borrower projects to make a solid return on investment of 60%. The subject property is located in a vacation area and is approximately 4,664 square feet. The Borrower plans to sell the property upon completion of the light rehab. The interest rate was 10.24% and we charged 1.25% origination points. The loan term was set at 12 months. This SFR fix and flip loan was funded in August 2023.