ISO Rock Hill investors

3 Replies

I'm just looking into Rock Hill SC as a potential place to have long term buy and hold rentals.  My question is how is the rental market? Meaning are things renting quickly? You don't have Fort Mill schools, not all that close to CLT for jobs, and no military base like in Columbia bringing folks to town.  Other than students (who move out after a year or so) what brings renters to Rock Hill? Seems like return on investment works, I'm just new and looking for the experienced folks to educate me. Thanks!

Originally posted by @Ashley Millar :

I'm just looking into Rock Hill SC as a potential place to have long term buy and hold rentals.  My question is how is the rental market? Meaning are things renting quickly? You don't have Fort Mill schools, not all that close to CLT for jobs, and no military base like in Columbia bringing folks to town.  Other than students (who move out after a year or so) what brings renters to Rock Hill? Seems like return on investment works, I'm just new and looking for the experienced folks to educate me. Thanks!

 Ashley just the opposite what you are saying. With Charlotte so close I can be at the airport in 20 minutes with 485 loop. So very close to Charlotte an it does have a direct impact on Rock Hill. Just look at the returning traffic on77 starting at 4pm to 6 pm. I think folks from Richburg /Chester also use Charlotte for Jobs. Now that being said Chester is getting $750 million dollar plant going in. Richburg has $1.5 billion dollar plant going in. Kershaw word is the Australian company is going to speed up the opening of the gold mine. Saying they will produce $70 mililion a year in gold. So those are things we are watching.

Now I don't like the low end market but that's just my preference. You will see in Rock Hill not a lot of solid deals out there. If and when you find a deal it is selling close to or at full price.  

Still some opportunity their in lower market if you have the stomach for that type of asst. Keep in mind most of the nicer homes folks can sell retail , so makes more sense then keeping for rentals today.

Hope this helps if not ask away.

I am building some nicer retail homes in Rock Hill on the golf courses.

Alex

thanks @Alex Franks .  I totally understand Rock Hill from a buy and sell stand point, but my goal is cash flow.  I suppose any town with jobs would bring people who prefer to rent vs own themselves.  I've heard a good strategy is to just pick an area and know it very well.  If I don't watch out, I'll own only 1 in every town nearby. Thinking I need to focus.  Thanks for your thoughts 

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@Ashley Millar I owned 37 rentals in Rock hill at one point( free and clear ). So trust me I understand and get cash flow. Keep in mind we are spill over City. Not many areas have one of the fastest growing cities and one of the lowest entry points in the USA. 

Which helps  any market in a 60 mile radius of and around Charlotte.Yes identifying certain areas to invest in is always a good start place.

My first choice was 3 micro areas  in Rock Hill way back when. Then I opened to a 30 mile radius of Rock Hill venturing to Pineville, and Mathews. That was pre 2008 but same concept today still works.

Take my opinion lightly as there are alot smarter folks here then me .

Alex

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