Rental Property Investor · Littleton, CO · Member since 2017 · 27 posts · 10 votes
Hello everyone!
I am looking to branch out from my incredibly hot local market (Colorado) and into more reasonable markets that make more sense. I have close family friends in Greenville that I visit regularly and am interested in investing in the area. I've just begun really diving into my market research on the area and wanted to reach out and get some insight from those with experience in the area.
I am mostly interested in smaller C to B- Multifamily (2-10 Units) properties. Any of you folks from the area have any thoughts on the current investing environment? Any areas in particular to avoid or focus on? Any insight that you may have that can help me hone in and streamline the market research would be greatly appreciated! Thanks everyone and keep killing it in 2018!
Flipper/Rehabber · Piedmont, SC · Member since 2018 · 119 posts · 50 votes
8y
Brandon,
I live in piedmont which is a part of Greenville area. I am a newer investor but have lived here all my life. I’ve flipped 2 and working on my 1st rental. Yes our taxes are a little more for investment properties that you don’t live in. Personal property is 4% investment is 6%. If you find a property you are interested in let me know and I can drive by and check out the area.
Professional · Atlanta, GA · Member since 2017 · 116 posts · 67 votes
8y
@Brandon Guite
I am in the Columbia, SC area about 2 hours away from Greenville. A few nuggets that may help:
1- Beware of taxes. In SC, investment property taxes are high (you may want to budget about 3% of property cost).
2 - In general, appreciation trends tend to be lower in South Carolina so you should focus mostly on cash flow play.
3- Obviously, multi-family appreciation is calculated differently and hence I would focus on the higher end of your unit count to stabilize and add value that will impact your cap rate.
Flipper/Rehabber · Piedmont, SC · Member since 2018 · 119 posts · 50 votes
8y
Brandon,
I live in piedmont which is a part of Greenville area. I am a newer investor but have lived here all my life. I’ve flipped 2 and working on my 1st rental. Yes our taxes are a little more for investment properties that you don’t live in. Personal property is 4% investment is 6%. If you find a property you are interested in let me know and I can drive by and check out the area.
Brandon,
I live in piedmont which is a part of Greenville area. I am a newer investor but have lived here all my life. I’ve flipped 2 and working on my 1st rental. Yes our taxes are a little more for investment properties that you don’t live in. Personal property is 4% investment is 6%. If you find a property you are interested in let me know and I can drive by and check out the area.
John - do you live on the north or south side of 85? My wife and I plan to either move back or buy a property in Piedmont in the next year (likely next summer). Would be interested in any property in Wren school district for a permanent residence or potentially investment property.
Flipper/Rehabber · Piedmont, SC · Member since 2018 · 119 posts · 50 votes
8y
@bailey tollison
I live south of 85. In the wren area. Both of my flips were in the wren area. One sold in 2 days and 2nd sold in 3. Hard to find great deals in this area. A lot of people moving into the piedmont/Powdersville area. You can find retail houses but hard to find flips.
Rental Property Investor · Littleton, CO · Member since 2017 · 27 posts · 10 votes
8y
@Milton Rivera Thanks for the info! I appreciate the insight and advice. My main focus is longer term buy and hold so cash flow is my main focus. I view any appreciation as just icing on the cake but don't really factor it into my upfront underwriting. Do you have any thoughts on the current market and its future path? I am also curious if you have any thoughts on how Landlord Friendly SC is?
@John Hovanec Thanks for the info and congrats on getting started! Overall what are your thoughts on the strength of the market in the area? Are there any areas that jump out to you off the bat to avoid or potentially target? I will absolutely take you up on your offer to do a drive by when I find a potential property, thank you very much for the offer!
Flipper/Rehabber · Cardiff By The Sea, CA · Member since 2017 · 5 posts · 3 votes
8y
@ John Hovanec, John , I'm also a remote investor , with a few solid contacts in the GSP area and looking to make more contacts. I understand the retail market is quite strong, but that you can get properties that need some work at a c=decent discount. What types of marketing are you deploying, Yellow letters? postcards, bandit signs, door knocking, networking with RE agents? discount offers on MLS? What seems to be working?