Looking to gain a deeper understanding of the Greenville, SC market. I driven over 65 properties and have completed a fair amount of demographic research and now I am looking to add and/or eliminate markets with in markets with in markets.
Demographically speaking San Souci is coming up short, especially the schools. I have a broker telling me there is a path of progress between Downtown and Cherrydale Mall and San Souci is part of it. That projects such as Hampton Station Birds Fly South Brewery, Poe-West Mill retail and access to the Swamp Rabbit Trail are all positive indicators. That flippers are buying up the old mill houses.
That people who want to be in downtown but either cannot afford it or cannot find somewhere to rent are coming into this area and that they don't want to go any further than West Blue Ridge.
Can anyone with extensive knowledge either from living in the area or investing in the area offer their opinion and maybe even some resources of further information. I am already reaching out to GADC.
Is this area going through gentrification?
Appreciate the help, as always if I can add some value to your operation somehow please just let me know. I invest MF properties in Greenville, Charleston and Mrtyle Beach.
@Neil Schoepp you should get with the local economic development committee in this market. They should have a 5 or 10 yr master plan for you to figure out where the path of progress is or future development too as well. Tracking pulled permits will lead you to the path of progress.
Thanks for the suggestions!
Those things are already in motion (GADC). Both the county and San Souci have plans. I'm waiting to hear back from the county office. But they are salesmen and their whole purpose is to attract business to the area, I do not believe they would mis-lead me but they may not give me the entire story either. Kinda like brokers they know taxes are going up but they still use the old numbers in their OM, for example. Then when asked they will come clean.
I'm looking for boots on the ground because there are certain things you can only tell, see, and feel from experiencing the change or lack there of that is happening. Kinda like the vibe of the area.
A local investor will be able to tell me if flips are happening, if those flips are moving quickly or not, are people moving into the area that are making higher incomes that the demographics haven't picked up on yet. Are they seeing home prices tick up a bit, etc.
There is a big group of Greenville, SC investors here on BP. Maybe if you would have put that in your title it may have gotten more replies.
Keywords are well Key.
Thanks for the help, Greenville, SC should ping now between your post and mine.
I sometimes get to specific as I was inquiring about a specific neighborhood San Souci, not Greenville (though they are practically one in the same) But you are right on the money I should have cast a larger net. Thanks for the suggestion.
I clicked on your post because I flew out there to Greenville to do some research and I know exactly what you are talking about. Hopefully you get some responses. The Greenville, SC crowd is very friendly I am sure they will help you.
I did the same thing back in March. Spent 4 days meeting with brokers, Pm's, Economic development, banks and drove over 50 properties. I even drove the outskirts of this area but not the specific area. Can't cover everything in just one visit. I guess it's time for trip number two.
By the way I have a great little air bnb I stayed at if anyone needs a place. Five minutes from the airport. Nice size studio. No affiliation just fellow investors that are doing a bang up job.
I am a new investor in the upstate, but I was born and raised in Greenville, SC and have seen the growth of San Souci. I currently live on the other side of Cherrydale, towards Paris Mountain State Park. My personal recommendation for investing in that area is to stay close to W Blue Ridge Dr and don't go too far past Franklin and Perry. I haven't recently driven outside of what I outlined below, so it could be moving outward. A lot of homes on W Blue Ridge Dr before Franklin have already been renovated, so the competition over there is fierce.
Feel free to come visit the area around the time that they hold the Upstate CREIA meeting. You'll be able to talk to other investors who already have experience in that area. The last time I went, they discussed new developments downtown like Unity Park and NorthPointe. You can find the schedule here: https://www.upstatecreia.com/
Hope this helps! (Sorry I have little experience so far, so I can't give a more detailed response.)
Thanks for the information. It was actually very helpful.
The Next time I am in town I will be sure to stop by the meeting.
I'm seeing the progress coming out of Greenville but stopping at Peter Hollis and Poinsette Hwy.
San Souci has been flat since 2000.
If I can ever add value to you please don't hesitate to reach out. Even if it's a "beginner" question.