Realtor · Atlanta, GA · Member since 2016 · 19 posts · 6 votes
Hello all! I'm ready to pursue flipping my first property, preferring to start in South Carolina, my home state. Can anyone advise what they feel to be the best town/city to find properties, flip, and get the best ROI? The cities I'm looking at are Greenville, Columbia, Florence (my hometown), and Charleston (or any other towns I may have missed). Also, anyone have any wholesale lists for those cities that they can share? Thanks in advance for any advice!
Lender · Charleston, SC · Member since 2014 · 36 posts · 19 votes
5y
@Ron Turner I agree with @Justin Famulari on the availability of flips in the Charleston market, especially buying under the $200k mark. Areas like James Island, West Ashley, Johns Island could be good niche areas for flips depending on your budget and won't have as much competition as areas farther north (North Charleston, Goose Creek, Ladson, etc.) where price points are lower and competition for deals is very intense.
Rental Property Investor · Charleston, SC · Member since 2018 · 16 posts · 15 votes
5y
Hey Ron! I live in Charlston, have a handful of rentals, and try to stay busy with flips.
Flips right now are becoming harder to find, at least for me (if anybody is listening, don’t be afraid to reach out to me to chat), but some areas you could try may be James Island, Mt Pleasant, or West Ashley; all 3 areas offer higher price points which may allow more wiggle room when you land a deal.
I have a question for you, do you work in any decent cash flow markets in your area where you sell real estate? I’m thinking about getting into a new market for that side of my portfolio. Feel free to PM me with any thoughts.
Lender · Charleston, SC · Member since 2014 · 36 posts · 19 votes
5y
@Ron Turner I agree with @Justin Famulari on the availability of flips in the Charleston market, especially buying under the $200k mark. Areas like James Island, West Ashley, Johns Island could be good niche areas for flips depending on your budget and won't have as much competition as areas farther north (North Charleston, Goose Creek, Ladson, etc.) where price points are lower and competition for deals is very intense.
Investor · Greenville, SC · Member since 2017 · 28 posts · 13 votes
5y
@Ron Turner the Greenville market is also very competitive. There are properties but the owners want a relatively high price for them. Not much margin vs the risk/work.
Greenville, SC · Member since 2021 · 14 posts · 9 votes
5y
Agree about the Greenville market. It's still incredibly inexpensive compared to other markets but what people want for their homes now is too over the top. There are deals occasionally on the open market but I find the best ones through friends who are connected with lenders and other wholesalers in town.
Rental Property Investor · Columbia, SC · Member since 2020 · 245 posts · 275 votes
5y
Hi @Ron Turner. I'm in Columbia SC and I've been aggressively searching this market for the past several months. In my opinion the properties are overprices and there is little margin for error with flips or if you're trying to BRRRR anything. I'm on a few email lists for wholesalers, but I never see anything that looks like a "deal".
I live in the Greenville market.Prices are skyrocketing right now but you can find a deal through word of mouth and local wholesalers.
I agree with Michael, I still some how keep finding deals in Greenville to flip. Wholesalers are mostly too high as they are selling into the frenzy. I have had best luck with word of mouth deals. My current flip should be done in 30 days and I can see it selling within days of hitting the market.
I'm also trying to buy an inexpensive rental to buy in my self directed IRA with no luck.