Greenville's flip market was built on its textile past. Mill village houses around the old mills on the west side are small, simple and highly renovatable, and they sit next to brick ranches and newer suburbs that keep resale demand steady.
In short: LendingStreet finances fix and flip projects in Greenville and across the Upstate on 1 to 8 unit investor properties, from $150,000 to $5M+. On some programs we cover up to 90% of total cost and up to 100% of the rehab, close in as little as 10 days and keep payments interest-only. In Greenville, mill village structure, the investor tax ratio and the city versus county permit split are the local details to get right.
The mill villages on the west side, including Judson, Dunean, Brandon and the Village of West Greenville, have rows of small frame houses built for textile workers. Many have been renovated, and the rest offer a steady supply of projects with predictable layouts.
Closer to downtown, North Main, Overbrook and the Augusta Road area command higher prices for older brick and craftsman homes. Sans Souci and Nicholtown offer lower entry prices. Outside the city, Greer, Taylors, Mauldin, Simpsonville, Fountain Inn and Travelers Rest have brick ranches and suburban homes, and Easley sits just across the line in Pickens County.
| Area | Typical housing | Common rehab scope |
|---|---|---|
| Judson, Dunean, Brandon mill villages | Small early 1900s frame mill houses | Piers, systems, kitchens, baths |
| North Main, Overbrook, Augusta Road | Older brick and craftsman homes | Systems, kitchens, period updates |
| Sans Souci, Nicholtown | Mid-century homes | Roof, HVAC, cosmetic, some structure |
| Greer, Mauldin, Simpsonville | 1970s-2000s ranches and suburban homes | Cosmetic updates, flooring, HVAC |
Mill houses are often on piers with crawlspaces, have small rooms and may have had additions over the years. Floors can sag, sills can rot and older wiring and plumbing usually need replacement. Buyers like the character, so many flippers keep the footprint and focus on systems and finishes.
Brick ranches from the 1960s and 1970s are simpler. Typical work includes kitchens, baths, flooring, HVAC, windows and roofs. Red clay soils can cause drainage problems around foundations, so check grading and gutters.
A LendingStreet flip loan can fund both the purchase and the renovation of a 1 to 8 unit investor property, from $150,000 up to $5M+. Some programs lend up to 90% of total cost and up to 100% of the rehab, and we can close in as little as 10 days when the file is ready.
The loan is short term and interest-only. Rehab money sits in a holdback and is paid out in draws as each phase passes inspection. Our investor loans are business-purpose loans on non-owner-occupied property.
This example is illustrative and not a quote. An investor buys a two-bedroom mill house in one of the west side villages that needs pier work, new wiring and plumbing, a kitchen, a bath and a roof. The purchase price is $175,000, the rehab budget is $65,000 and the after-repair value, based on renovated sales nearby, is $310,000.
At 90% of the purchase price plus 100% of the rehab, the loan is $222,500, about 72% of the after-repair value. The estimated monthly interest-only payment on the full loan is about $1,947, and the plan is a 5-month hold. For simplicity the example assumes the full loan amount accrues interest for the whole hold.
After an estimated 7% in selling costs, the projected profit is about $31,941 on roughly $33,859 of cash invested. If the sale takes three months longer than planned, added interest and carrying costs of about $7,191 would cut the profit to about $24,750, which is why a realistic timeline matters as much as the rehab number.
| Item | Amount |
|---|---|
| Purchase price | $175,000 |
| Rehab budget | $65,000 |
| Loan (90% of price + 100% of rehab) | $222,500 |
| Estimated monthly interest-only payment | $1,947 |
| Interest over 5 months | $9,734 |
| Taxes, insurance and utilities | $2,250 ($450 a month) |
| Buy-side closing costs (estimate) | $4,375 |
| Selling costs (about 7%) | $21,700 |
| Sale at after-repair value | $310,000 |
| Estimated profit | $31,941 |
| Cash invested (down payment, closing, carry) | $33,859 |
Inside city limits, the City of Greenville issues building permits; unincorporated areas fall under Greenville County, and Greer, Mauldin, Simpsonville and Travelers Rest have their own offices. Confirm which applies before you schedule work.
Some neighborhoods near downtown have design or historic overlay rules for exterior changes. If a mill house has an old addition, check whether it was permitted, since unpermitted space can complicate the appraisal and the resale.
Investor property in South Carolina is assessed at a 6% assessment ratio, higher than the 4% ratio for a primary residence, and it pays school operating taxes that primary homes are exempt from. Use the investor figure in your carrying costs.
Closings in South Carolina are handled by attorneys, and the state charges a deed recording fee based on the sale price, split between the state and the county. Inland Greenville has less hurricane exposure than the coast, but storms and wind still affect insurance.
The South Carolina fix and flip page has more on the program across the state.
Decide before closing whether you plan to sell or hold, and test both. A sale repays the flip loan from the proceeds. A refinance into a DSCR loan replaces the short-term loan with long-term financing based on the property's rent, which is a useful backup if resale prices soften.
Renovated mill houses and Upstate ranches often rent well relative to their cost, so a DSCR refinance is a common alternative to selling. See the local DSCR loan page for the details.
Lenders look at the deal, the budget and the plan. Gather these before you request terms.
Our team reviews the purchase, the rehab budget, the after-repair value and your exit for 1 to 8 unit projects in Greenville, Spartanburg, Pickens and Anderson counties. Clear budgets and realistic timelines get the quickest answers.
Start with the form below, or call (877) 298-1001 if you want to talk through a property first.
Many are, because the layouts are simple and buyers like the character. Check piers, sills and wiring closely, since structural and system work drives the budget.
South Carolina closings are handled by attorneys. Your closing attorney will also confirm recording fees and title.
Yes. We finance 1 to 8 unit investor rehabs across Greenville County and nearby Upstate counties, subject to normal review.
Investor property is assessed at a 6% assessment ratio instead of 4%, and it pays school operating taxes, so carrying costs are higher than the seller's bill suggests.
Yes, up to 8 units. Buildings with 9 or more units are commercial and are handled under our commercial and multifamily programs.
No. The rehab portion is released in draws after each phase of work is inspected.
You sell and repay the loan from the proceeds, or refinance into a long-term DSCR loan if you keep the property as a rental.
No. Our investor loans are business-purpose loans on non-owner-occupied property.
2-3 competing quotes from 30+ capital sources. No credit pull. No commitment.
By clicking, you provide express written consent to be contacted by LendingStreet (NMLS #1734316) via SMS, phone, or email, possibly using automated technology, regarding your loan inquiry. Reply STOP to opt out. Consent is not required to obtain services. See our Privacy Policy and Terms.