Quick funding for house flipping projects in Myrtle Beach.
Fix and flip loans from Hard Money Lenders of Myrtle Beach provide the rapid, reliable financing that house flippers need to capitalize on opportunities throughout the Grand Strand real estate market. In the competitive world of property flipping, the ability to close quickly often determines whether you secure a deal or watch another investor walk away with the profits. Our fix and flip loans close in as little as 5-7 days, giving you the speed advantage necessary to acquire distressed properties at favorable prices and begin renovations immediately.
The Myrtle Beach area presents exceptional opportunities for fix and flip investors. The combination of seasonal weather patterns, aging housing stock, and continuous population growth creates steady demand for renovated homes. Neighborhoods throughout Horry County, from the historic districts of Conway to the beachside communities of Surfside Beach and Garden City, contain properties that can be transformed from dated or distressed condition into desirable homes commanding premium prices. Our lending team has funded hundreds of successful flips in the region and understands the market dynamics that drive profitability.
Our fix and flip loan program is specifically designed for the unique needs of property flippers. We fund both the acquisition price and renovation costs, eliminating the need to coordinate multiple funding sources or drain your cash reserves. Our loans are based on the after-repair value (ARV) of the property, allowing us to lend significantly more than traditional lenders who only consider current condition. With loan amounts up to 70% of ARV, interest-only payments during the renovation period, and no prepayment penalties, we structure our loans to maximize your flip profits.
Fix and flip loans serve investors pursuing various house flipping strategies across the Myrtle Beach market. Cosmetic flip projects focusing on properties needing primarily aesthetic updates, new flooring, paint, kitchen and bath refreshes, and landscaping, represent the entry point for many new flippers. These projects typically complete within 2-4 months and target homes in decent structural condition located in desirable neighborhoods. Our loans provide acquisition capital plus $20,000-$50,000 for cosmetic improvements, with interest-only payments keeping carrying costs low during the renovation and sales period.
Full gut renovation projects involve properties requiring extensive work including kitchen and bath replacement, flooring throughout, HVAC and electrical updates, and sometimes structural repairs. These projects require larger renovation budgets, often $50,000-$100,000 or more, but offer higher profit potential when executed well. We frequently finance gut renovations in transitioning neighborhoods where buyers seek move-in ready homes but inventory is limited. Our draw schedules accommodate the phased nature of major renovations, disbursing funds as contractors complete rough work, systems installation, and finish carpentry.
Distressed property acquisitions including foreclosures, short sales, and estate properties often present the best flip opportunities but require immediate cash or hard money financing. Banks selling REO properties typically require quick closings with no financing contingencies. Estate sales may need to close within tight timelines to settle decedents' affairs. Our fix and flip loans enable you to compete with cash buyers for these properties, often securing discounts of 20-40% below market value that create substantial profit margins even after renovation expenses.
Luxury flips in premium locations like North Myrtle Beach, Murrells Inlet, and Pawleys Island target high-end buyers seeking move-in ready homes with upscale finishes. These projects command higher acquisition prices and renovation budgets but generate substantial profits when market timing aligns. Our fix and flip loans can finance luxury flips with loan amounts exceeding $1 million for waterfront properties, golf course homes, and executive residences in prestigious communities. We understand the high-end market expectations and ensure our financing structures accommodate extended timelines for quality craftsmanship.
House flipping in Myrtle Beach presents challenges that can quickly erode profits if not properly managed. Accurate project estimation proves difficult for many investors, particularly those new to the market. Underestimating repair costs, overestimating after-repair values, or miscalculating holding periods can transform profitable deals into break-even or loss scenarios. Hidden issues discovered during demolition, mold, termite damage, outdated electrical systems, or foundation problems, can blow budgets and extend timelines significantly.
Contractor management represents a persistent challenge for flippers. Finding reliable contractors who show up consistently, complete quality work on schedule, and honor their bids requires ongoing effort and relationship building. Some contractors may be unfamiliar with coastal South Carolina building requirements, particularly regarding wind resistance, flood elevation, and moisture management. Payment disputes, workmanship issues, or contractor abandonment can derail projects and create expensive delays. Successful flippers develop networks of trusted contractors or serve as their own general contractors with strong subcontractor relationships.
Market timing and sales velocity directly impact flip profitability. The longer a renovated property sits unsold, the more interest, property taxes, insurance, and utilities erode returns. Myrtle Beach experiences seasonal fluctuations in real estate activity, with peak selling seasons in spring and early summer and slower periods in fall and winter. Flippers must align project completion with favorable selling seasons and price aggressively enough to attract buyers without leaving money on the table. Overpricing renovated properties is a common mistake that extends holding periods and reduces ultimate returns.
Financing costs significantly impact flip economics. Hard money interest rates are higher than conventional mortgages, and points and fees add to acquisition costs. If renovations extend beyond projected timelines or sales take longer than expected, financing costs accumulate rapidly. Flippers must accurately model carrying costs in their deal analysis and maintain adequate reserves to cover extended holding periods. Unexpected repairs, permit delays, or market softness can all extend timelines beyond original projections.
Our fix and flip lending approach centers on partnership and education, particularly for investors newer to the Myrtle Beach market. When you present a potential flip deal, we analyze the numbers with you, purchase price, repair estimates, ARV projections, and profit margins, to ensure the deal makes sense before you commit. If our experience suggests your repair estimate is too low or your ARV projection too optimistic, we'll share that feedback so you can adjust your offer or strategy accordingly. This consultative approach has helped many investors avoid bad deals and achieve consistent profitability.
We structure fix and flip loans with draw schedules that align with your renovation timeline and contractor payment needs. Typical draw phases include acquisition funding, rough work completion (framing, mechanical systems), finish work (drywall, flooring, paint), and project completion. Each draw requires site inspection to verify work completion before funds are released. This protects both you and us by ensuring funds are available when contractors need payment while maintaining accountability for project progress. We can adjust draw schedules to accommodate your specific project needs and contractor arrangements.
Speed and reliability define our service execution. Once you have a property under contract, we can provide loan approval within 24-48 hours and schedule closing within 5-7 days. Our in-house processing team coordinates directly with your title company to ensure smooth closings. During the renovation period, we process draw requests quickly, typically within 2-3 business days of inspection, so contractor payments don't delay project progress. If challenges arise during your project, our team remains accessible to discuss options and potentially adjust loan terms to help you complete successfully.
Our fix and flip loans are available throughout the Grand Strand flipping markets including Myrtle Beach, Conway, North Myrtle Beach, Surfside Beach, Garden City, Little River, Socastee, Loris, and surrounding Horry County communities where renovated properties command strong buyer interest.
We typically lend up to 70% of the after-repair value (ARV) of the property. For example, if a home will be worth $300,000 after renovations, we can lend up to $210,000. This amount must cover both the purchase price and renovation costs. Most of our loans cover 80-100% of the purchase price plus 100% of renovation costs for experienced flippers with strong deals. First-time flippers may need to contribute 20-30% of the purchase price as down payment.
We disburse renovation funds in stages as work is completed. A typical draw schedule includes: initial acquisition advance at closing, first construction draw after rough work completion (framing, mechanical systems), second draw after drywall and major finish work, and final draw upon project completion. Each draw requires a site inspection to verify work completion. Draw requests are typically processed within 2-3 business days of inspection. We can customize draw schedules to match your contractor payment needs.
Our fix and flip loan interest rates typically range from 10-14% annually, depending on borrower experience, deal strength, and current market conditions. We charge origination points (typically 2-4% of the loan amount) at closing. There are no prepayment penalties, so you can repay early without additional cost when your property sells. Other closing costs include appraisal fees, title insurance, and recording fees, which vary by transaction size.
Our fix and flip loans typically have terms of 6-12 months, which accommodates most renovation and resale timelines. Extensions are available if your project takes longer than expected, though extension fees and potential interest rate increases apply. Interest-only payments are due monthly during the loan term, with the full principal balance due when the property sells. We recommend planning for 3-4 months for renovation and 2-3 months for marketing and sale.
While prior experience is helpful, it's not always required. First-time flippers can qualify with strong deals, adequate cash reserves, and competent contractor teams. We may require larger down payments (30-40% vs. 20-25% for experienced flippers) and more detailed project documentation from first-time borrowers. We also recommend that new flippers start with cosmetic renovation projects rather than full gut rehabs to build experience before tackling more complex flips.
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