Manual labor ain’t easy. Remodeling your house takes time and a lot of work. Unless you are a pro with a hammer and understand infrastructure like the back of your hand, it’s best to hire a contractor. 

 

But, how do you know you have the right contractor?

 

There are many things to consider when hiring a contractor. Below, we look at some of the most important factors that go into [getting the hard work finished](https://rl-remodeling.com/tips-to-remodel-your-home/). 

 

## Is Your Contractor Licensed?

 

This is the first question you need to ask yourself when looking at contractors. During your search, you’ll likely see a long list of people who say they are contractors. 

 

But are they really? The easiest way to tell is to see if they are licensed. 

 

There’s more to being a contractor than being savvy with tools. They need to know the building codes and the proper process to get certain tasks cleared. 

 

## Insurance Matters

 

You’re also going to want to make sure your contractor is insured. Hospital bills can be outrageous, so do you really want to pay all that money to someone else?

 

Finding a contractor who is insured guarantees that you won’t pay the bill if someone gets hurt while working. It’s also great if an accident happens that damages your neighbors’ property. 

 

Don’t add another price tag to your remodeling bill. Get an insured contractor. 

 

You can generally find licensing and insurance information about every contractor on a county website what details such information. This might require some digging but that information should be publicly available. OfferMarket recently got some data pertaining to Maryland contractors and can be viewed in the following links: 

 

- [HVAC contractors in Baltimore - License and Insurance Status](https://www.offermarket.us/blog/hvac-contractors-baltimore)
- [Plumbers in Baltimore - ](https://www.offermarket.us/blog/plumbers-near-me-baltimore)
- [Electricians ](https://www.offermarket.us/blog/electricians-near-me-baltimore)
- [Home Inspectors ](https://www.offermarket.us/blog/home-appraisers-inspectors-near-me-baltimore)
- [General Contractors in Baltimore](https://www.offermarket.us/blog/home-improvement-contractors-baltimore)

 

The information presented above has been acquired from [Maryland's Department of Labor online Licensing Queries page](http://www.dllr.state.md.us/pq/). It's highly probably that your home state's Department of Labor also has a "Licensing Queries" page where you can look up and verify that your contractor is licensed and insured. 

 

## Find a Contractor That Specializes In Your Project

 

A passenger airplane pilot can’t fly a jet. Despite them both being airborne vehicles, they are two completely different tasks. 

 

Your contracting project is the same. 

 

Kitchen remodeling, staircases, roofing, it’s all different. When looking through contractors, try to find the person who knows how to get the job done. This is the best way to avoid good, but not great, work. 

 

Afterall, we all want our dream home so don’t settle for [anything less](https://www.loveproperty.com/gallerylist/75500/epic-home-fails-worlds-worst-design-and-diy-mistakes). 

 

## Timing Is Everything

 

You want the project done as quickly as possible. It’s understandable. Strangers walking around your home. Loud noises throughout the day. You need it to stop. 

 

But, don’t pick the contractor who gives you the quickest time frame. 

 

Proper construction takes time. That is just a fact. Something is wrong when a contractor tells you a project will take one week when every other contractor has told you 3-4 weeks. 

 

Don’t sacrifice time for quality. Find the contractor who will not only work quickly, but also deliver on safety and great design.

Professional contractors are hired to improve your home, but the liability that they bring along is huge. This article examines important factors that must be considered when hiring a professional contractor to improve your home.

What to Look For in a Professional Contractor 

There are a few ways to sell your house fast for a good price. Before we go into them, we should clarify that it's not about selling your house fast for the highest price, it's about selling your house fast for the highest *net proceeds*.

 

## Selling fast: understanding what takes up time in the real estate transaction

 

1. Pre-listing repairs. *Solution:* [sell AS-IS](https://www.offermarket.us/guides/selling-a-house-as-is) and list fast
2. Asking for too much. *Solution:* be honest with yourself, what is the condition of the property and what are the [comps](https://www.offermarket.us/real-estate-glossary/comps)? Set an attractive asking price.
3. Unqualified buyers. *Solution:* verify [proof of funds](https://www.offermarket.us/real-estate-glossary/proof-of-funds)

Here's how to your house fast for a good price (optimal net proceeds). There's more to learn at OffeMarket. 

How can I sell my house fast for a good price?

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How can I sell my house fast for a good price? - OfferMarket FAQs

**Last updated:** April 15, 2024

 

![DSCR Loan South Carolina - Cover Photo](https://cms.offermarket.us/uploads/DSCR_Loan_South_Carolina_Cover_Photo_bd4401845c.jpg)

 

Looking for a DSCR loan for your South Carolina investment property? Welcome and thank you for stopping by! We encourage you to stick around, **[get an instant quote](https://www.offermarket.us/loans)**, and take advantage of our market-leading insights and tools designed to help you build wealth through real estate:

 

- [DSCR Loan Interest Rates Index](https://www.offermarket.us/blog/dscr-loan-interest-rates)
- [DSCR Calculator](https://www.offermarket.us/tools/dscr-calculator)

 

We fund a lot of DSCR loans in South Carolina and we've built relationships with wonderful clients in the state. We're particularly active in Beaufort, Charleston, North Charleston and Summerville, and we can fund your next purchase or refi anywhere as long as it's not rural. 

 

We love working with rental property investors in the Palmetto State, and we sure hope to have the opportunity to work with you.

 

## South Carolina DSCR loan interest rates

 

<div style="width:100%; overflow-x:scroll">
<iframe title="DSCR Loan Interest Rates Index (30 year fixed) chart" width="600" height="371" style="" seamless frameborder="0" scrolling="no" src="https://docs.google.com/spreadsheets/d/e/2PACX-1vRJPw1fYWqj_5mdlNBrD5MLne_ApqpOXlNmkmNE_sZfPgsbn9pU0mWUenEO1x6WE9237S7jzaQE2Hig/pubchart?oid=262687025&amp;format=interactive"></iframe>
</div>

 

*Source: [DSCR Loan Interest Rates Index](https://www.offermarket.us/blog/dscr-loan-interest-rates)*

 

Here are frequently asked questions from our South Carolina clients:

 

## What is a DSCR loan?

 

DSCR stands for *debt service coverage ratio*, and it is a simple metric to determine if an investment property generates more or less income than the monthly mortgage payment. A DSCR loan is simply a mortgage specifically for a rental property where the maximum loan amount is determined by the DSCR of the property. As your loan amount increases, your monthly mortgage payment increases, and your DSCR decreases. 1.1 is currently the minimum DSCR to qualify for a given loan amount. Use our [DSCR Calculator](https://www.offermarket.us/tools/dscr-calculator) to help you run your numbers, understand DSCR, max loan amount, monthly cash flow, cash to close and cash out for your next deal.

 

## Can I cash out refi with no seasoning?

 

Yes! OfferMarket is one of the only private lenders with a [cash out refi no seasoning](https://www.offermarket.us/blog/cash-out-refi-no-seasoning) program. Instead of waiting for 6 months to refinance your rental property, you can refi as soon as your renovation is completed and the property is leased. Why should you have to wait to pull cash out of a property and reinvest it into growing your business?

 

## Do I qualify for a DSCR loan?

 

**Borrowing Entity:** Because our loans are business purpose, we only fund loans to business entities. If title is currently held in your personal name, you would need to transfer it into an LLC or corporation before we can fund.

 

**Credit Score:** the minimum credit score is 660. If you have more than one borrower in your borrowing entity, the ownership of each member will determine which credit score we use. If you do not want to use one of the member's credit score, they will need to own less than 50% of the borrowing entity. We use a [tri merge credit report](https://www.offermarket.us/blog/what-is-a-tri-merge-credit-report), which is a hard credit pull that collects your credit report from Experian, Equifax and Transunion, and we take the middle score. So, if your tri merge report is 721, 697, 738, then we will use 721 to determine your loan terms.

 

**Background Check:** if you have a clean background report, then you're all set. If you have one or more bankruptcy, felony or misdemeanor on your background report, then we will need you to provide a letter of explanation to determine if you are eligible for funding.

 

**Non-Rural:** if your property is [designated as rural](https://www.offermarket.us/blog/rural-designation-search-tools) or the appraiser indicates that your property is rural on their appraisal report, then we may not be able to fund your loan. DSCR loans are meant for properties in highly liquid markets where you can quickly sell the property for market price if need be.

 

**Minimum As Is Value:** currently, we require your property to appraise for at least $100,000, and we require your loan amount to be at least $75,000.

 

## What is the maximum DSCR loan amount?

 

**Purchase:** we can fund up to 80% of the purchase price as long as the property does not appraise for below the purchase price, and the appraisal market rent supports that loan amount.

 

**Rate and term refinance:** if you have an existing loan on the property, we can refinance up to 80% LTV as long as you do not receive more than 2% of the loan amount as a cash out at settlement.

 

**Cash out refinance:** we can fund up to 75% LTV.

 

If you're looking for more higher leverage than the above terms (i.e. higher LTV, lower down payment), we urge you to use caution because legitimate DSCR lenders will rarely offer more leverage than what is offered by OfferMarket.

 

## How long does it take to get a DSCR loan?

 

Our target for every DSCR loan is to fund in **20 to 25 days**. Here are the most common reasons why funding can be delayed:

 

**Appraisal delay:** 3rd party appraisers provide a report due date but may miss that deadline. The appraiser's report may need to be revised and the appraiser may be delayed in providing their revised report.

 

**Title work delay:** title companies and closing attorneys may take more time to complete the title work, especially if they are waiting on a lien certificate from a the county or title is clouded.

 

**Borrower delay:** in your OfferMarket Loan File, we provide you with a checklist of items that we need in order for your file to be ready for final review and loan approval. Our processing team will follow up to remind you when there are items that we need you to take care of, and if you do not take action on these items in a timely manner, then your loan will be delayed.

 

## Best cities to buy rental properties in South Carolina

 

<div style="display: grid; grid-template-columns: repeat(1, minmax(0, 1fr)); overflow: auto; white-space: nowrap;">
<table>
 <thead>
 <tr>
 <th>Rank</th>
 <th>City</th>
 <th>Population</th>
 <th>Population Growth Rate</th>
 <th>Median Household Income</th>
 <th>Median Home Price</th>
 <th>Market Rent</th>
 </tr>
 </thead>
 <tbody>
 <tr>
 <td>1</td>
 <td>Charleston</td>
 <td>147,928</td>
 <td>1.3%</td>
 <td>$75,274</td>
 <td>$425,000</td>
 <td>$1,700</td>
 </tr>
 <tr>
 <td>2</td>
 <td>Columbia</td>
 <td>137,276</td>
 <td>0.6%</td>
 <td>$61,791</td>
 <td>$350,000</td>
 <td>$1,400</td>
 </tr>
 <tr>
 <td>3</td>
 <td>North Charleston</td>
 <td>114,542</td>
 <td>1.9%</td>
 <td>$60,422</td>
 <td>$325,000</td>
 <td>$1,300</td>
 </tr>
 <tr>
 <td>4</td>
 <td>Mount Pleasant</td>
 <td>98,900</td>
 <td>2.1%</td>
 <td>$73,167</td>
 <td>$400,000</td>
 <td>$1,600</td>
 </tr>
 <tr>
 <td>5</td>
 <td>Rock Hill</td>
 <td>71,548</td>
 <td>0.9%</td>
 <td>$57,350</td>
 <td>$275,000</td>
 <td>$1,200</td>
 </tr>
 <tr>
 <td>6</td>
 <td>Greenville</td>
 <td>67,086</td>
 <td>1.2%</td>
 <td>$74,975</td>
 <td>$375,000</td>
 <td>$1,500</td>
 </tr>
 <tr>
 <td>7</td>
 <td>Summerville</td>
 <td>48,331</td>
 <td>1.6%</td>
 <td>$67,900</td>
 <td>$300,000</td>
 <td>$1,250</td>
 </tr>
 <tr>
 <td>8</td>
 <td>Goose Creek</td>
 <td>44,464</td>
 <td>1.8%</td>
 <td>$65,500</td>
 <td>$250,000</td>
 <td>$1,100</td>
 </tr>
 <tr>
 <td>9</td>
 <td>Spartanburg</td>
 <td>39,619</td>
 <td>1.1%</td>
 <td>$55,150</td>
 <td>$225,000</td>
 <td>$1,000</td>
 </tr>
 </tbody>
</table>
</div>

 

## How do I get started with a DSCR Loan?

 

⚡ **[get your instant DSCR loan quote](https://www.offermarket.us/loans) and pre-approval** -- takes less than a minute, be sure to submit so we can confirm the best possible terms (our instant quote is conservative and we commonly can actually provide a lower rate and higher loan amount)

 

📄 **upload your purchase agreement or lease** into your OfferMarket Loan File

 

🧑‍💻 **schedule your relationship manager call** from your Loan File -- speak with your dedicated relationship manager who will address your questions and concerns and make sure we are a good fit to be your lender.

DSCR Loan South Carolina, everything rental property investors need to know to get the best possible terms for your next purchase or refi.

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DSCR Loan South Carolina

Grow your real estate investing business with the most competitive DSCR loan product. OfferMarket also provides DSCR rental loans, bridge loans, hard money, fix & flip, rehab, ground up construction loans.

Rental Loans

The Lock In Effect

Real Estate Investing Sayings

This is an important question that deserves careful consideration in order to be a successful real estate investor.

 

Let's start with *first principles* -- what do we know to be true about real estate?

 

- Real estate is capital intensive
- Capital intensive industries require financing
- Increases in interest rates make it more expensive to finance real estate
- When real estate becomes more expensive, demand goes down
- When demand goes down, prices appreciate slower or decline

 

## The Lock In Effect

 

As interest rates have rapidly risen from historic lows, home owners that would otherwise consider selling are having a difficult time justifying trading in a home financed at an interest rate in the high 2s or 3s for a home in the 6s or 7s. As a result, if interest rates remain elevated, we believe there will be less selling. Less selling means less inventory (supply). This will support elevated home prices, or at least reduce the chances that we see a broad decline in home prices.

 

## Real Estate Investing Sayings

There are a few sayings that drive home the answer to this question: 

 

- *Time in the market is better than timing the market.*
- *Don't wait to buy real estate. Buy real estate and then wait.*
- *Marry the deal, date the rate.*
- *Buy the best and wholesale the rest.*

 

##

Is now a good time to buy real estate? This is an important question that deserves careful consideration in order to be a successful real estate investor.

*Quote takes 1 minute, no credit pull

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Is now a good time to buy real estate?

* Takes 2 minutes, no credit pull

The Lock In Effect

Real Estate Investing Sayings

* Takes 2 minutes, no credit pull