Relocate my investment to SC

5 Replies

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!

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.

Originally posted by @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.

Ross, 

You are so right. I made few offers but all outbid by other buyers. Because I am not local, it is very difficult for me to determined make a strong offer to compete others. 

Thank you for the kindness of offer your knowledge about the areas. I will be carefully keep looking. Please keep me posted if you have some decent deals in your belt. 

Russ, 

Sorry for misspelled your name. That is not acceptable. I apologize for my mistake. 

@Rose Feng  I will notify you when we get our next wholesale deal.  It looks like my wife and I are each going to get a property under contract this weekend, but I think we will rehab both of them. 

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