Grand Strand flips run on a calendar. Retirees, relocating buyers and second-home shoppers tend to tour in spring and early summer, and a rehab that misses that window can sit through the slower fall and winter months while interest keeps running.
In short: LendingStreet finances Myrtle Beach-area fix and flip projects on 1 to 8 unit investment properties from $150,000 to $5M+. Programs go up to 90% of total cost and up to 100% of rehab on some programs, close in as little as 10 days and are short-term and interest-only. You exit by selling or by refinancing into a DSCR rental loan.
Demand here comes from people moving in, not only from local move-up buyers. Retirees from the Northeast and Midwest, remote workers and families relocating for healthcare and service jobs want move-in-ready homes, often single-story, with updated kitchens, new flooring and documented roofs and HVAC systems. Buyers paying cash or with large down payments are common, and they notice deferred maintenance.
That makes the classic Grand Strand flip a dated 1980s or 1990s ranch, a tired golf-course villa or an older beach-area cottage brought up to current taste. Expensive structural projects in flood zones are a different business, and the numbers need more cushion.
Grand Strand buyers also ask about insurance before they make offers. A flip with a new roof, updated electrical and a wind mitigation report is easier to insure, which makes it easier to sell. Those items often pay for themselves in a faster sale.
Socastee and Forestbrook have older brick and vinyl ranch homes on larger lots. Older streets in Myrtle Beach near Pine Lakes and the downtown grid have mid-century homes and cottages that can sell well once updated. Surfside Beach and Garden City have small beach houses where the land often carries much of the value.
Conway's older neighborhoods near downtown and the river have character homes, but some sit in areas that flooded in 2018, so check history carefully. Golf communities across the Strand hold aging villas and condos where the association's condition and fees matter as much as the unit.
| Area | Common flip candidate | Key check |
|---|---|---|
| Socastee and Forestbrook | 1980s to 1990s ranch | Flood zone, roof and HVAC age |
| Myrtle Beach near Pine Lakes | Mid-century homes and cottages | Permits for additions, lot setbacks |
| Surfside Beach and Garden City | Small beach houses | Elevation and substantial improvement limits |
| Conway | Older character homes | River flood history |
| Golf communities | Dated villas and condos | HOA fees, reserves, special assessments |
This example is illustrative and not a quote. An investor buys a dated 1980s ranch in Socastee for $215,000 and budgets $60,000 for a new roof, HVAC, kitchen, baths, flooring and paint. Comparable updated homes nearby support an after-repair value of $345,000.
The loan covers 85% of the purchase and 100% of the rehab, for $242,750, which is about 88.3% of total cost and about 70.4% of after-repair value. Rehab funds are released in draws as work is completed and inspected. Estimated interest is about $2,225 a month, or about $13,350 over a six-month hold.
| Line item | Amount |
|---|---|
| Purchase price | $215,000 |
| Rehab budget | $60,000 |
| Total project cost | $275,000 |
| Loan (85% of purchase plus 100% of rehab) | $242,750 |
| Cash at closing plus buy-side closing costs | $36,750 |
| Estimated interest, six months | $13,350 |
| Taxes, insurance and utilities during the hold | $3,600 |
| Selling costs at 6.5% of sale | $22,425 |
| Sale price | $345,000 |
| Estimated profit before income taxes | About $26,100 |
In a FEMA special flood hazard area, local floodplain rules generally say that if improvements cost 50% or more of the structure's market value, the building must be brought into compliance, which can mean elevating it. On a small beach cottage in Surfside Beach or Garden City, a big remodel can cross that line quickly.
Ask the building department how it values the structure and what counts toward the limit before you finalize the scope. Elevation certificates, flood insurance quotes and the buyer's likely flood cost also affect your resale price.
Permits come from the city or town where the property sits, such as Myrtle Beach, North Myrtle Beach, Surfside Beach or Conway, or from Horry County for unincorporated areas like Socastee and Carolina Forest. Roofing, structural, electrical, plumbing and mechanical work generally need permits, and coastal wind requirements affect roofing and window choices.
Contractors are busiest before the summer season and after storms. Build a schedule that assumes some slippage, and get written bids with a clear scope so your draw requests match the work.
Before you buy, check whether the property needs septic or well work, which is still common on rural parcels west of Conway and near Loris. Replacing a septic system can add time and cost that a cosmetic rehab budget does not cover.
Listing in late winter or spring generally puts a finished house in front of the largest pool of relocation and second-home buyers. A project that starts in late summer may finish into the holidays, when showings slow. Budget a longer hold if your timing is off, and plan a backup exit.
If the market softens, a finished Socastee or Carolina Forest house can rent long-term to local workers. Refinancing into a DSCR loan pays off the flip loan and turns the project into a hold. The rent must cover the new payment at the 6% assessment ratio for taxes and a real insurance quote, so run that math before you start. Our rate-and-term refinance page explains the payoff process.
Investors who plan for both exits from the start tend to sleep better. Ask what the house would rent for in its finished condition, check the insurance cost as a rental and run the DSCR before closing on the purchase, so a soft spring market becomes a hold rather than a forced sale.
Send the address, purchase price, scope of work, budget and after-repair value comparables. We look at total cost, after-repair value and your experience, then explain the leverage and draw process. Use the form below or call (877) 298-1001. For statewide context, see our South Carolina fix and flip page.
Up to 90% of total cost and up to 100% of the rehab budget on some programs, subject to after-repair value and experience.
In as little as 10 days once the file is complete. Attorney scheduling and title work are often the timing factor in South Carolina.
In draws. After each stage of work, an inspection confirms progress and the funds for that stage are released.
Yes, but check the local 50% substantial improvement rule first. A large remodel can trigger elevation requirements that change the budget.
Experience helps with leverage and terms. Newer investors can still qualify, often with a stronger budget and an experienced contractor.
You can refinance into a DSCR rental loan if the rent covers the new payment, which pays off the flip loan.
No. Our investor loans are business-purpose loans on non-owner-occupied property.
Yes. Fix and flip loans cover 1 to 8 unit residential investment properties.
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