Relocate my investment to SC

[Rose Feng]

I have been a small investor, Realtor, and landlord in PA for 6 years. Now I decide to move to Charleston area in SC to settle.  I have some funds and few residential and commercial properties in PA and will be putting on the market soon. 

My friend who is also a RE investor, and I will be driving to Charleston on this week for looking for investment opportunities and get familiar with the areas. 

Any wholesale deals, any partnership opportunities for commercial buildings, any suggestions or warnings? Please feel free to offer ,and I will be truly appreciate any potential opportunities, helpful information and insights. Thanks!

[Russ Scheider]

Hi Rose,

I am constantly working on rehabs and wholesale deals, but Charleston is such a hot seller's market right now that my wholesales are usually gone within the first 2-3 days.  I will let you know when I secure my next wholesale contract.

The rental market is strong, especially within easy driving distance of Boeing and the colleges.  However, competition for these rental properties has driven prices up rapidly in the past year.  Watch your cap rates carefully, because the margins have gotten very tight.

lots of opportunity in North Charleston, but please seek local knowledge.  Some neighborhoods look good, but are not, and some look rough, but are perfectly safe.  As with most cities, one side of a certain road or railroad track may be a decent neighborhood and the other side may have much lower property values.  

I learned the hard way that a drive through the neighborhood doesn't tell the whole story.