I'm currently a wholesaler in upstate Spartanburg still building funds to do some fix and flips and purchase rental properties but for anyone in South Carolina and mainly the Upstate are you guys usually seeing the 2% rule on your rentals in terms of your rents vs. you all in purchase price + rehab? I don't see a lot of these which isn't surprising, but I assume it can be done.
I'm not seeing the 2% often in this market just based on what we've looked at - most of ours are falling a little over 1%. Still great deals and cash flows just fine so not a problem at all for us being less than 2%.
We do have one commercial rental property that is above 2%, but I wouldn't say that is common.
@Chesley White Thanks for your input Chelsey! I thought 2% wouldn't be as common. But yea as long as you're cash flowing!
@Chesley Hutchinson - what Greenville neighborhoods are you investing in that are only yielding 1%? Are those mainly A/B properties?
I have two properties in Murells inlet, both are just a hair over 1%, but both still cash flow about 200/month
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