hard money lender in Charleston

Getting the after-repair value (ARV) right is the difference between a profitable Charleston flip and a break-even grind. Ambition Lending reviews ARV with a disciplined method that you can copy for your own deals. Use the framework below to build a comp set lenders respect, defend your numbers, and move through approval faster.

A Proven Method to Nail ARV in Charleston

1) Tight radius and recency. Start within the same school district and expand only as needed. Aim for sales in the last 3–6 months; older than that gets haircutted unless the market is thin.
2) Like-for-like property. Match beds, baths, square footage band (±10–15%), year built era, parking/garage, and lot type (slope, access, usability).
3) Thoughtful adjustments. Make measured adjustments for square footage, bed/bath count, garage, lot size/usability, and renovations. Avoid stacking big adjustments on multiple comps; that signals a weak set.
4) Remove outliers. Toss the extreme high/low sales and focus on a cluster around the median. If a comp sold in 3 days at 10% over ask, treat it as an outlier unless you can prove a bidding environment for your subject.
5) DOM reality check. If similar renovated homes are sitting 60–90 days, pressure-test your ARV and timeline.

When We Haircut ARV (So You Can Plan Ahead)

• Thin comp sets requiring net adjustments over ~10%
• External nuisances (busy road, commercial adjacency, overhead lines)
• Functional obsolescence that your scope doesn’t actually fix
• Floodplain or hillside risks that affect insurability and buyer pool
• Over-improvement relative to the neighborhood price ceiling

Build a Comp Set Lenders Can Trust

• Three to five closed sales, plus one to two actives/pending for market color
• Notes on condition and renovation scope of each comp (photos help)
• A materials/finishes list for your subject that matches the comp quality
• Clear timeline to list, including seasonal considerations (winter pricing, holidays)

Example ARV Worksheet You Can Copy

• Subject after rehab: 3 beds, 2 baths, 1,450 sf, garage, level lot
• Closed comps (0.5–1.0 mi, last 120 days): $245k, $252k, $258k → median $252k
• Adjust –$7k for smaller lot/no garage vs comp set → underwriting ARV $245k
• 70% rule guide: 0.70 × $245k – rehab budget
  • If rehab $35k → Max purchase ≈ $136,500

Scope, Draws, and Timeline Discipline

• Lock your scope before you sign. Creep destroys margin and slows draws.
• Plan 3–4 draws: post-rough-in, drywall, finishes, pre-punch. Label photos by room/milestone and request inspections 24–48 hours in advance.
• Front-load lead-time items (windows, doors, cabinets) the week you close.
• Keep utilities on for mechanical inspections and valuation appointments.

Protecting Profit on Exit

• List at the comp-supported price, not the dream price.
• Stage appropriately for the price band; invest in pro photos and a clean launch.
• If DOM exceeds 21–28 days without meaningful traffic, adjust quickly. Holding costs eat returns.

What to Send to Get Terms Quickly

Property address and photos, purchase contract (or payoff for refi), your ARV worksheet, comp set, and itemized scope/budget. Include entity documents, IDs for signers, bank statements for down/closing funds, insurance agent contact, and access instructions for valuation.

Q&A

Can a CMA help my approval? Yes—attach your CMA, your adjustments, and notes; we still order third-party valuation.
Do I need a licensed GC? Heavier scopes typically require licensed subs; light cosmetics can be flexible.
Can I use rent projections for DSCR refi later? Yes—appraiser rent schedules support DSCR sizing on stabilized or market-rent scenarios.

hard money lender in Charleston