Hey, I am just starting out and I want to get into buy and hold real estate investing. And I was thinking about investing in Greenville, since I live in the Greenville area and I know this market better than any other. However, I was wondering If Greenville, SC is a good market to invest in? Also, I was wondering if there are any local regulations/ laws/permitting or zoning regulations I need to be aware of for when I invest.
Real Estate Agent · Memphis, TN · Member since 2019 · 365 posts · 264 votes
2y
@Avery Lauber welcome to Bigger Pockets and congrats on the first post! There's no better way to start out than getting a buy and hold in the market that you're local to. I've heard nothing but great things about Greenville, from my understanding there's quite a bit of appreciation there. I would advise contacting a realtor in your area to better understand the do's and don't in the area.
If you are ever interested in a lower price point Memphis, TN is a great place to look. Best of luck investing!
Real Estate Investor · TN · Member since 2010 · 294 posts · 160 votes
2y
Avery,
I think investing where you live is a smart move, especially when you are first starting out. I think most places are good to invest in if the numbers are right. It's all about getting properties at the right price so I can make a profit. If you plan to rent then make sure after all expenses you have a positive cash flow. You will have to decide how much cash flow you will want before you commit to a deal.
I like to focus on distressed properties that I can rehab quickly to raise their value and add equity. It also allows me to get properties for lower prices which then increases my cash flow. If I can be of any help just let me know.
Real Estate Agent · Grand Rapids, MI · Member since 2023 · 333 posts · 124 votes
2y
Hi Avery,
Reaching out to local investors is a great way to make connections in the industry. I highly recommend attending local investor meet ups if there are any in your area. I would also work with a local Realtor who owns investment properties themselves. They will be able to help you avoid potential mistakes as a newer investor. Congrats on starting your real estate investing journey.
Real Estate Agent · Memphis, TN · Member since 2019 · 365 posts · 264 votes
2y
@Avery Lauber welcome to Bigger Pockets and congrats on the first post! There's no better way to start out than getting a buy and hold in the market that you're local to. I've heard nothing but great things about Greenville, from my understanding there's quite a bit of appreciation there. I would advise contacting a realtor in your area to better understand the do's and don't in the area.
If you are ever interested in a lower price point Memphis, TN is a great place to look. Best of luck investing!
Real Estate Agent · Plano, TX · Member since 2013 · 477 posts · 89 votes
2y
Hi Avery!
Starting out in buy-and-hold real estate is awesome, and it's smart to consider your local area. Greenville, SC can be a solid market, especially since you know it well. To make the most of it, look into the neighborhood vibes, property trends, and rental demand. Got more questions or need specifics? Shoot them my way!
Don't hesitate to reach out if you'd like to delve into this further.
It's fantastic that you're considering getting into buy-and-hold real estate investing, and choosing a market you're familiar with, like Greenville, is a strategic move. Here are some reasons why Greenville, SC, could be a great place to invest in real estate:
Economic Growth: Greenville has experienced significant economic growth, driven by diverse industries such as manufacturing, healthcare, and technology. A thriving economy often correlates with a robust real estate market.
Population Growth: The city has seen steady population growth, indicating a demand for housing. This is a positive sign for real estate investors, especially in the buy-and-hold strategy.
Job Opportunities: Greenville's job market is diverse, with major employers in various sectors. Job opportunities contribute to a stable rental market and can attract tenants.
Quality of Life: The city offers a high quality of life with cultural amenities, outdoor activities, and a vibrant community. These factors can make it an attractive location for potential tenants.
Education: Greenville is home to reputable educational institutions, which can attract students and faculty, creating additional rental demand.
Affordability: The relatively affordable cost of living and housing in Greenville makes it accessible for a broad range of tenants, supporting the demand for rental properties.
Regarding local regulations, laws, permitting, and zoning regulations, it's crucial to conduct thorough research and consult with local real estate professionals. Familiarize yourself with any licensing requirements, building codes, and zoning regulations that may apply to your investment plans. Local real estate associations and government offices can provide valuable information.
Feel free to reach out if you have more specific questions or if there's anything else I can assist you with as you embark on your real estate investment journey in Greenville. Best of luck!
Real Estate Broker · Cleveland, OH · Member since 2023 · 49 posts · 32 votes
2y
I think Greenville is a fantastic market and it's one reason we moved here a few years ago. That, and the warm weather. It always seems to be in the news as a "top" market, etc... Regardless, I think it's best to invest in what you know. Why invest elsewhere when you already know your current market. Being an absentee landlord can be a nightmare if you have a property that's 1+ hours away. Much easier to drive over and fix the problem yourself in most cases. Regarding zoning, there could be plenty of things to be mindful of. For example, can I split this 3 acre parcel and put another home on the remainder? Or, can I tear down this large ranch, split the parcel, and put two homes here? Can I put an accessory dwelling unit (ADU) on my property and what are those requirements? That's probably the most recent update and here's a link to some FAQs: https://www.greenvillesc.gov/FAQ.aspx?QID=636. Or, can I AirBnB in this area? See link: https://www.greenvillesc.gov/1572/Short-Term-Rentals
Hey, I am just starting out and I want to get into buy and hold real estate investing. And I was thinking about investing in Greenville, since I live in the Greenville area and I know this market better than any other. However, I was wondering If Greenville, SC is a good market to invest in? Also, I was wondering if there are any local regulations/ laws/permitting or zoning regulations I need to be aware of for when I invest.
It is a fantastic area. 33 people per day are moving here. Lots of opportunity.
Checkout the local Real Estate Association. Upstatecreia dot com
They meet monthly in person at the Embassy Suites in Verdae. Plus they have many sub groups.
They are a on profit that focuses on education.
They have remote members all over the country that attend via zoom.
They are getting ready to kick off a "New Investor" subgroup this year.