New Investor Advice - Carolina Coastal

[Sean Hennessy]

I’m starting to look at out-of-state investing, specifically in long-term rentals across North and South Carolina. I’ve spent a good amount of time running numbers and analyzing rent-to-price ratios, but I’m finding the hardest part is actually narrowing down which towns to target.

A few things I’m keeping in mind:

• I like being near water since values usually hold stronger long-term.

• At the same time, I want to avoid areas with high flood risk.

• I’m focused on steady, long-term rental demand rather than short-term or vacation rentals.

For those of you already investing in the Carolinas:

• How do you evaluate towns when deciding where to buy?

• Any markets/areas you’ve had good (or bad) experiences with?

• What are the key things you look for beyond just the rent comps?

Any insights on how to make that “final cut” in choosing towns would be a huge help.

Thanks in advance!

Looking at out of state investing in long term rental for North/South carolina regions - any advice when looking for towns?  Spent a lot of time analyzing rents but making that final seleciton on towns is difficult for me.  I like near water as home values usually stay high, out of high flood risk areas 

[Myrtle Mike Thompson]

@Sean Hennessy I suggest looking at Myrtle Beach and its inland neighbor Conway, SC.  Most people think of Myrtle Beach as a vacation destination, but the full-time resident population of Horry County has been growing rapidly... 18% over the past 5 years.  Most areas are low risk for flood, and the job sector has become more diverse.  Conway, for example, is home to Coastal Carolina University (the area's largest college), a leading hospital network, and a wide range of manufacturers.  The area as a whole has seen 5.2% employment growth over the past 12 months.  Meanwhile, home prices are still well below the national average.  Feel free to shoot me any questions if I can help with anything.