Flipping houses in South Carolina can be a profitable decision if executed properly. This month, we're excited to feature a completed flip of a single-family home in Fort Mill that turned out to be specifically that for one real estate investor.
This SC property has undergone an extensive rehab, and our borrower was determined to make it exceptional for the next owner. This real estate investor completely rehabilitated this property in just six months. Fund That Flip was there to help the borrower transform the property into a modern, upscale home through the help of a short-term fix-and-flip bridge loan.
Check out the video below to see how this Carolina property was updated to become a modern masterpiece with high-end finishes. The borrower spared no expense to make sure this property would stand out among the rest!
This house flipper saw a fantastic opportunity to rehab this property and turn a profit through financing with a fix-and-flip loan. After successfully completing the project, the borrower listed this property for nearly double the purchase price. This home features six bedrooms, six full bathrooms, two half-baths, a screened-in porch, and garage space for up to eight cars! The home sits on more than one full acre of property, with a large backyard that features a gunite Pebble Tec pool with a tanning shelf and automated pool cover as well as a lounging area with a custom-built fire pit. We are proud to showcase how our short-term private money loans help to restore properties just like this one.
3 Stats You Need To Know for Flipping Houses in South Carolina
According to Clever Real Estate, flipping houses in South Carolina can be very rewarding. Some reasons for why you might want to flip houses in South Carolina are listed below.
- Remodeling and renovation costs in the state are around $40,000 on average which is mild compared to most states.
- South Carolina is home to over 1,200 international companies' headquarters. It is also a popular retirement location.
- According to Zillow, median home value is $188,004. Home values in the state have increased by 3.9% in the last year.
Particularly, Fort Mill is a rather desirable housing market. According to Redfin, the average sale price for homes in the town is about $330,000, a 4.8% increase in the last year.
Are You Ready to Start Flipping Homes in South Carolina?
Looking for an alternative to stocks? Real estate investing can earn 8-10% annual returns on pre-vetted, low LTV, real estate-secured loans. Fund That Flip offers industry-leading visibility into each project, enabling investors to be highly selective in the loans they choose to fund. Click below to make an investment today!