Updated almost 5 years ago on . Most recent reply
House-Hacking in Charleston, SC make sense?
I am new to real-estate investing and reside in Charleston, SC. I am looking for a duplex/townhome to try and "House-hack". I know that this comes with many advantages and it does make me feel more confident in purchasing. However, I am personally having a hard time finding many duplexes. I have been specifically looking in West Ashley area, and a little in James Island. I have not gone into deep research, but I have reached out to some agents and looked on all the cites I have access to, but am more so just asking. Are there great deals to still be made in the west Ashley for this type of property? I do not expect to live for free by any means, but at least have some money off the top of my own living expense. I do not plan to buy until September/October.
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Do be aware that when/if 526 is continued across to Johns Island, it will cut right next to those condos and potentially make them less desirable especially for the units closer to the hwy. It's a great location for convenience though. Also you should know that they aren't townhouses, but condos, and subject to a Regime which means there could be a dreaded "special assessment" in the future. I don't have any reason to expect that, but it's fairly common with condos around here.
Duplexes are in high demand and if you find a deal on one, kudos to you! There's a lot of competition though. It might be easier to find the right single family home and configure it for a comfortable housemate situation. For instance, convert a garage into a master suite that would be your bdrm and rent out a bedroom or two or three at the other end of the house with the common space in between. Depends on your tolerance for housemates though.