Funding questions come up constantly with investors working West Columbia, mostly because the houses here so often need work before a bank will touch them.
Before anything else: I’m not a lender. These answers are education from an investor who borrows, explaining the options people use and the questions worth asking. No rates, no terms, no recommendations of specific lenders.
For the full walk-through, read the West Columbia funding guide. To see how money fits into a flip here, check the West Columbia flipping guide. And for a second set of eyes on a loan quote, join REI Skool — it’s free.
Straight answers
Is Ben Lovro a hard money lender in West Columbia SC?
No. Ben is a real estate investor and borrower, not a lender. This site is education about how investors fund deals. He does not make loans or recommend specific lenders.
What's the difference between hard money and private money?
Hard money usually comes from a lending company built for short-term, asset-based investor loans. Private money usually comes from an individual who knows you. Both should be documented by attorneys and secured by the property. See private money lenders for more.
Can I get fix and flip loans in West Columbia SC for older houses?
Many investor lenders will finance older homes that need significant work, but some only want light cosmetic projects. Ask any lender directly whether they lend on heavy scope, and how they handle rehab draws.
Will a local bank or credit union lend on an investment property?
Some will, especially for borrowers with a track record and an existing relationship. They tend to be more conservative and may want the house in better condition than a hard money lender would.
What is a DSCR loan and when do West Columbia investors use it?
A DSCR loan qualifies mainly on whether the property’s rent covers its debt payment. Investors often use one to refinance a renovated rental into long-term debt. The DSCR loans page explains it.
How do I fund a real estate deal in West Columbia SC with no money?
Usually with a partner or private lender who funds a deal you found and underwrote well. Put the roles in writing, get an attorney involved, and remember that pooling money from several people can raise securities issues.
What should I ask a lender before I sign?
Ask about all fees, how rehab draws work, what happens if you pass the term, prepayment penalties, whether they lend on heavy rehab, and whether you can use your own closing attorney.