South Carolina flips range from Upstate mill houses to Lowcountry cottages in historic districts. The lender that fits a quick cosmetic job in Spartanburg may not be the one you want for a slow Charleston renovation.
In short: There is no single best fix and flip lender in South Carolina; the best one is the program that costs the least over your real timeline and funds your rehab without stalling the job. Compare total cost (rate plus lender and closing costs), leverage, how fast draws are paid, experience rules, extension terms and closing speed on the same deal. LendingStreet finances investment property in South Carolina with fix and flip rates from 9.99% for qualified borrowers, up to 90% of the purchase price and up to 100% of the rehab paid in draws. Loans run from $150K to $5M+ and can close in as little as 10 days.
Kiavi, RCN Capital and CoreVest are among the national names that also finance short-term investor projects in South Carolina, alongside local banks and private lenders. Each sets its own rules for leverage, experience and draws, and any of them can be a reasonable place to request a quote.
Rankings online rarely match your deal. A first flip in Columbia, a repeat investor's tenth project in Greenville and a Charleston house that needs design review are three different loan requests. The better question is which program fits this property, this budget and this timeline.
Ask every lender to quote the same purchase price, rehab budget and after-repair value (ARV). Then line the offers up on the items below instead of the headline rate.
The Upstate, anchored by Greenville and Spartanburg, has drawn steady population and job growth, with the BMW plant near Greer a well-known employer. Older brick ranches and former mill village homes are common flip candidates, and buyer demand from new arrivals supports updated starter homes. As an illustration only, many Upstate flips are priced for first-time buyers rather than the luxury end.
Columbia mixes state government, the University of South Carolina and Fort Jackson, which creates demand from both owner-occupants and investors buying after the flip. Charleston has some of the state's oldest housing stock and higher prices, with bigger potential margins and bigger budgets. Myrtle Beach and the Grand Strand lean toward second-home and retiree buyers, so resale timing can follow the tourist season.
Most South Carolina cities and counties require permits for structural, electrical, plumbing, mechanical and roofing work, while purely cosmetic updates often do not. Review times and inspection scheduling vary by jurisdiction and season, so confirm with the local building department before you set your timeline.
Charleston's historic districts can require design review before exterior changes, which can add weeks before work starts. Coastal properties may also bring flood zone and insurance questions. Every extra month means another month of interest, taxes, insurance and utilities, so build those weeks into your budget and your loan term rather than hoping they do not happen.
This example is illustrative and not a quote. An investor buys a 1960s brick ranch near Greenville for $210,000 with a $55,000 rehab budget and a $345,000 ARV. The loan covers 90% of the purchase ($189,000) plus 100% of the rehab ($55,000), for $244,000, about 71% of ARV.
At a sample rate of 10.99%, interest on the full balance is about $2,235 a month, or about $13,408 over six months. Add sample closing costs of $5,800, carrying costs of $450 a month ($2,700) and selling costs of about 7% of the sale price ($24,150). Profit is about $33,942 before taxes. Because rehab funds are drawn over time, actual interest would likely be somewhat lower.
If permits or a slow sale stretch the project to eight months, interest rises to about $17,877 and carrying costs to $3,600, and profit falls to about $28,573. The two extra months cost about $5,369.
| Item | 6-month hold | 8-month hold |
|---|---|---|
| Sale price (ARV) | $345,000 | $345,000 |
| Purchase plus rehab | $265,000 | $265,000 |
| Interest at sample 10.99% | $13,408 | $17,877 |
| Sample closing costs | $5,800 | $5,800 |
| Carrying costs | $2,700 | $3,600 |
| Selling costs (about 7%) | $24,150 | $24,150 |
| Estimated profit | $33,942 | $28,573 |
We offer fix and flip loans from $150K to $5M+ with rates from 9.99% for qualified borrowers and terms typically of 12 to 18 months. Leverage goes up to 90% of the purchase price and up to 100% of the rehab budget, released in draws after each phase of work is completed and inspected.
Experience helps pricing and leverage. First-time flippers can qualify on some programs, often at lower leverage. South Carolina closings are customarily handled by an attorney, so line up your closing attorney early and confirm their timeline matches ours. Our financing team reviews your scenario and comes back with 2-3 options.
Send the purchase contract, a line-item scope of work and budget, your ARV estimate with recent comparable sales, your estimated credit score and a list of completed flips with settlement statements. If you borrow through an LLC, have the entity documents on hand.
For a Charleston historic property or a coastal home, add what you know about design review and flood zone status. The more of the timeline you can show, the more accurately we can size the loan term.
Yes. LendingStreet finances investment property in South Carolina, including Greenville, Columbia, Charleston, Myrtle Beach and Spartanburg. Fix and flip loans are business-purpose loans on non-owner-occupied property, starting at $150,000.
It depends on the deal. Kiavi, RCN Capital, CoreVest, local lenders and LendingStreet all finance investor projects. Request quotes on the same property and compare total cost, leverage, draw speed and extension terms.
Our programs go up to 90% of the purchase price and up to 100% of the rehab budget, with loans from $150K to $5M+. Your experience, credit and the margin between the loan and ARV decide where you land.
Yes, on some programs. First-time flippers often start at lower leverage, and a detailed budget and contractor bid help the file.
They affect your timeline, which affects your costs. If exterior work needs design review, allow for that time in your schedule and your loan term, and confirm the requirements with the city before you buy.
You complete a phase of work, request a draw, the work is inspected and funds are released for the completed portion. Ask each lender how long that cycle usually takes.
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