Deal snapshot
| Location | Nicholtown, Greenville, SC |
| Property type | 1948 3/2 bungalow |
| Loan type | Hard money BRRRR → South Carolina DSCR |
| Loan amount | $247,000 bridge → $213,750 DSCR refi |
| Close time | 9 business days |
Investor challenge
Estate sale in Nicholtown required Federal Pacific panel replacement and 9-day close. Flip math showed only ~$11K net after carry — sponsor needed hard money for buy+rehab and a DSCR exit that recycled capital into a second Upstate door.
Jaken’s solution
87% LTC at 10.75% IO with 100% rehab draws on panel/HVAC-first sequencing. Eleven-month bridge term covered rehab, lease-up, and appraisal seasoning for South Carolina DSCR.
Outcome
Stabilized at $1,650/mo, appraised $285,000, refi at 75% LTV returned ~$38,000 for West Greenville acquisition #2.
Hub: DSCR loans South Carolina · hard money lenders Greenville
Hard money structure
| Parameter | Terms |
|---|---|
| Rate | 10.75% IO |
| LTC | 87% + 100% rehab draws |
| Rehab | $52,000 |
| Close | Day 9 · $195,000 |
DSCR exit
| Metric | Value |
|---|---|
| Appraisal | $285,000 |
| DSCR refi | 75% LTV → $213,750 |
| DSCR ratio | ~1.18 |
| Cash returned | ~$38,000 |
Related
Pre-Qualify for Greenville Hard Money · (833) 264-7776