Is Charleston SC a good buy and hold area?

Question

I'm thinking about buying some property in Charleston. Maybe on James Island or Johns Island. Is anyone in this market?

Paul Timmins · Answer

@Daniel Thomas

To find out about an area go to IREM.org search for ARM certified property managers. Call 5 ask them what sides of the city they like/dislike and why. Ask what they see them selling for and what expenses are by category. Ask if they know anything coming up for sale.

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and all the cash buyers (rehabbers) you will need.

Paul

Jonathan Twombly · Answer

Charleston is a very good market in terms of its growth potential, with so many retirees moving into the area, the huge and expanding Boeing plant, and the development of the Port of Charleston to handle Panamax ships when the Panama canal is widened.  However, it is getting very expensive as a result.  It is also a bit patchy in terms of good areas and bad areas, so it's best to study the area well before you buy.  Pretty much anything on the Peninsula is going to be hard to acquire at this point; properties that languished there for years and years are now being snapped up as they are running out of room on the Peninsula itself.  Other areas, I'm not sure.  It is best to get acquainted with locals and learn the low-down about the path of development, etc.  But, overall, I really like the Charleston market for the long term.

James Schroeder · Answer

I believe it is a good area as it is developing. They have recently build a massive bowing plant and, generally, it is a nicer area. Additionlly, Beaufort, SC is just a little over an hour south. Marine Corps Air Station Beaufort is adding the Joint Strike Fighter (JSF). Additionally, it will be the training center for the JSF! What does that mean to you? All military bases have plenty of renters or people looking to buy homes in the area and this will be even more so with the huge influx of personnel moving to the area. This is my opinion.

Is Charleston SC a good buy and hold area?

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