Lexington SC - Investment properties success?

Question

Narrowed down to a couple markets, one being Lexington SC - anyone have any success in this area recently?  Home prices are reasonable, high taxes but seems to have solid rental rates

Israel Hilerio · Answer

Haven't invested there personally but I've been researching similar SC markets. What I've seen on Lexington: school proximity (Lexington High, White Knoll, River Bluff) tends to correlate with higher rents and longer tenant stays.

Two things to watch: HOAs—a lot of the newer neighborhoods restrict rentals, so check bylaws before you buy. And flood zones near Lake Murray can hit your insurance hard.

Once you're looking at specific properties, the due diligence I focus on is what actually matters to renters—what's nearby, noise levels, what it's actually like to live there. That's usually where I spend the most time.

Daryl Campbell · Answer

Taxes are going to be high anywhere in SC. You just really have to buy low in order to cash flow.

Patrick Roberts · Answer

High property taxes is the first thing that comes to mind. I pulled a property tax bill yesterday for a loan Im working in Lexington County. For a $220k investment property, it was over $6,600/yr. Thats high even for SC.

Patrick Roberts · Answer

Supposedly, SC is looking at property tax reform that mirrors what Florida is currently exploring. Paying egregious property tax rates on investment properties and state income tax and state/local sales tax is ridiculous. Not sure how much impact this will actually have on investment properties, though.

Sean Hennessy · Answer

I was surprised by them too, living in Northeast still better than here but was hoping to have much lower property taxes and makes it a little hard when you compare against 4% owner occupied rate and credits they get