Hey all! I am currently looking to buy a house in the next month or so and have been torn on whether to invest in Summerville or Northern Charleston.
The area in North Charleston that I am looking at now is by the neck region and has a property that already has tenants and cash flows to my liking (and potential to rehab for more) however the property does appear not to be in a well developed area (houses in the surrounding area are far from the "prettiest"). I've heard of a lot of development plans coming to the North Charleston region but am trying to get feedback on this forum about the area specifically around North Windsor Place. I feel like North Charleston can be a very big hit or miss spot so I'd like other investors opinions.
In Summerville, there is a 2/1 property I am eyeing that can be converted to a 3/1 or a 3/2 to get a substantial equity boost. The property will meet my cash flow criteria but lags behind the cash flow of the potential property in North Charleston. Seeing as this property isn't rent ready it will also require about 20-30K to fix it up (substantial) so it'd be an undertaking to get it ready.
So all in all I am comfortable with the numbers I can receive from both potential properties but my concern lies more with the location. With your knowledge of the areas would you invest in North Charleston by Windsor place for more of a potential cash flow play or Summerville for more of an instant equity play.
Thank you in advance!
Hey @Victor Medina ,
If they are both deals, why don't you find a way to buy both?
My concern is more so getting more insight on the locations themselves to confirm that they are good deals worth pursuing.