Rental Properties in South Carolina
Hello everyone,
I’ve been reading and listening to podcasts on buying rental properties (in state & out of state), and within 6-12 months I believe I will have enough money for a 20% down payment on a property. Although I plan on staying in-state starting out, I’ll spread my wings and fly out of state once I’m comfortable.
My current plan is to buy single/multi properties for cash flow in a B/C neighborhood with cash on cash return of at least 15%. My price range is between 10K - 60K.
With that being said, I would like to connect with real estate agents, lenders, contractors, inspectors, investors, property managers etc in South Carolina.
Thank you BiggerPockets fam. I’ve learned a lot from you in such a short period, but I know I still have more to learn so I’ll keep reading.
Most Popular Reply
Oh and remember this: if you get a property manager to work with a property in a very undesirable neighborhood - and that is an IF - you're going to have to manage them. And you'll probably be disappointed. And these class-D neighborhoods only suffer in economic downturns. Better to get involved in a flip with a partner or a loan on a $175k house if you have 25% to put down. 25% of $175k $35,000. It's hard to save that kind of money, but I suppose wholesaling could earn you $10k per house...