Purchasing a single family rental near Charleston, SC.

10 Replies

I am thinking about purchasing a single family (3 bedroom, 900 - 1500 square feet) home to lease within 30 minutes of Charleston, SC. Where would be a good area to look? I vacation there but am not so familiar with the surrounding area. Thanks!

How much are you willing to invest? What $ rent are you looking for? What is your target ROI? Charleston is a very diverse market. Houses sell for $50 per sq ft and over $500 per sq ft within the same metro area. Your desired parameters will determine the best options.

Thanks Russ! Not interested in the bottom of the available price range. Something that represents a step or two up from that and will positive cash flow with a 20% down payment and fits the above criteria. (And give me a rental to check on when I make trips to that area) Is there a zip code/ area that stands out as one I should watch?

@Chad Seay are you looking for turnkey or something to fix up? I just bought a 3/1 that's 950 sf for $38k and will put $30k into it and it'll rent for 1050. If your willing to do the work, u can find deals like this. If you want turnkey, you can still find one for 100k that'll rent for 1100 pretty easily. Not great returns but still better than I estimate the stock market soon over the next several years.

I have properties in moncks corner, summerville and North Charleston however I think you can find turnkey or almost turnkey deals with 10-15% cash on cash returns all over this area including those above and Ladson, hanahan, goose creek, ridgeville (more difficult in the higher end parts of town like mount pleasant, james island, etc). I haven't had much luck in the beachfront towns as they are a little out of my budget anyway.

Join the Largest Real Estate Investing Community

Basic membership is free, forever.