108 Kingsley Drive in Mauldin, SC

The Opportunity

An experienced flipper had the opportunity to purchase a condo in the Washington, D.C., suburb of A first-time flipper found a 2,800 square foot home in the growing suburb of Mauldin, SC, that was available to purchase as an ideal flip. The five-bedroom, three-bathroom home had been built in 1972 and needed major updates, but its appealing location provided significant upside with the right financing solution.

The Solution

Lima One financed the first-time flipper with a 74% blended loan to cost loan, allowing the investor to purchase the property for $315K with a rehab budget of $105K. In just four months, the flip was complete, and she sold the property at $10,000 above asking—a wonderful exit for a first flip. Lima One’s ability to work with first-time flippers enabled this investor to clear a bigger-than-expected profit and prepare for future flips when the time is right.