Charleston SC - Submarkets (Wagener Terrace, Mount Pleasant, Daniel Island, James Island, Crosstown, etc)
Hey BP! Hope 2015 is off to a great start for everyone.
I'm looking for some information on Charleston SC submarkets. I'll be investing in my first buy-and-hold within the next six months and am looking to dial in my search on the hottest submarkets in the area.
I'm well versed in the "Inside Crosstown" area, and this would be my first choice if I could find a cash flowing ~1% deal. Unfortunately those have been few and far between. As such, I would like to expand my search and have heard great things about the "Outside Crosstown"/Wagner Terrace markets. It also appears that Mount Pleasant has been poised for growth and has really exploded.
While I am focused on A-B grade neighborhoods to strike a balance between cash flow and minimize risk of vacancy/low quality tenants/& stagnant depreciation, I'm also interested in what investors are up to in lower grade markets (Goose Creek, Moncks Corner, West Ashley, North Charleston, etc.) I'm less familiar with these markets and recognize that there are high-end areas in each, so I hope not to offend anyone. I know that there is more cash flow potential further from the peninsula.
In summary, I am looking for insights into the Charleston SC submarkets so I can narrow my search and ultimately find a buy-and-hold property that will generate positive (~$100 per door) cash flow in a "booming" market. Thank you in advance for your insights!
My very best,
Jeff