5 Cardwell St Greenville, SC 29605

The Opportunity

A South Carolina investor with a large real estate portfolio found the chance to flip six houses on the same street in the fast-growing city of Greenville. The old mill houses were in disrepair but affordably priced. As a result, they offered the potential for strong profits.

After financing the flips with Lima One and completing the rehab, the investor looked to sell the properties. However, after reviewing the numbers, he decided to hold two of the properties as rentals while selling the other four. That meant he needed to refinance two properties into DSCR loans. He once again turned to Lima One, whom he had used for rental loans a few years earlier.

The Solution

Lima One was the perfect financing partner to help this investor execute a fix to rent strategy. The two DSCR loans each closed at 70% loan to value, allowing the investor to pull cash out of the properties while maintaining monthly cash flow. Plus, because the investor was refinancing from a Lima One fix and flip loan, he received discounts on the origination fee of the rental loans.

The investor continues to scale his portfolio thanks to Lima One, which has financed 25 different properties with over $3.2 million in loans in just four years. Lima One’s commitment to providing a premier loan experience allows the investor to continue growing his business.