Would you buy in SC?

10 Replies

I am currently looking for deals in Gaston County, but I'm curious about what you think about investing in SC areas like Fort Mill or Lake Wylie. 

Do you buy in these cities?

What would your concerns be about investing here? Taxes? Legal complications?

I'm looking forward to what y'all have to say.

Originally posted by @Maximilian Marck :

I am currently looking for deals in Gaston County, but I'm curious about what you think about investing in SC areas like Fort Mill or Lake Wylie. 

Do you buy in these cities?

What would your concerns be about investing here? Taxes? Legal complications?

I'm looking forward to what y'all have to say.

I currently live in Fort Mill and invest in Fort Mill/Tega Cay/Rock Hill/Lake Wylie. Taxes are the biggest challenging with investing in SC - the investor tax rate is about triple the primary residence rate - but the rental rates take that into account and there is a serious dearth of rentals in this market. Finding deals may be challenging in the current strong sellers market, but if you can find them, it's a fantastic area to own real estate due to the fabulous school system and proximity to the airport/Charlotte.

Hope this helps!

I think the market is huge for small multifamily. If you're building, I may be an investor.  Land is getting really challenging to find at a decent price.

Hey Maximillian!

My wife and I currently own a SFH in Lake Wylie and we continually look for deals in SC especially Fort Mill. The growth in Fort Mill has been absolutely ridiculous over the past few years and same with Lake Wylie likely secondary to great SC schools and close proximity to Charlotte. With that being said it can be VERY difficult to fund cash flowing properties due to the high non-owner occupant taxes as noted above. Cash flowing properties are there but probably will be difficult to find on the MLS. Hope this helps and feel free to message me if you have any questions!

Jared Wonders