Moving from New York to South Carolina. Starting my next chapter.

10 Replies

I will be retiring and moving to South Carolina and looking to start my next chapter investing. I am trying to learn and figure out what type of investor I will be. I started thinking I would like to have vacation rentals that my family could use from time to time. I am also very handy so was contemplating flipping but lately I've been leaning towards BRRRR. I will continue to scour through the forums, read and watch others as I figure this out. First step will to be to start analyzing properties. Very happy to be part of this community. Looking forward to any advice given or just a simple sign of support.

Hi Ted, and welcome. Congrats on the retirement! Lots to choose from. I recommend starting with a fix and hold strategy. I'll assume you have some retirement money coming in and have some money saved to get a down payment. Holding could satisfy your desire to have a place for family to stay (depending on location). Consider whether you will manage yourself or hire a manager. I'm not crazy about flipping or self-managing as it can become a job and a job is the last thing you want right now. Best of luck in your future!

Thank you Benjamin. I'm hoping for some cash deals to start and use the BRRR method. Still have a lot to learn. I'd like to consider rentals for military or college students. My son starts college next year and might be a good thing to explore?

Originally posted by @Shaun Lindley :

Do your homework on the property taxes for investment properties in SC.  They are 3-4 times higher when it's not your primary residence.  That really affects your strategy in SC.

Yes I know. Since we bought our home there before selling our current home the property taxes are three times what they should be. Thats still less than we pay in NY! 

Originally posted by @Debbie Fales :

Congrats on this exciting new chapter, Ted. You might consider joining your local real estate investors association to meet like-minded individuals and get the lay of the land in SC. You can find a local group on the national website:

Thank you. I will certainly do that once I am there full time.