Nyc investor interested in South Carolina

@Elvin Salcedo

Yes non-owner property taxes in South Carolina are high and so those need to be factored into an investor’s analysis. 

I am located in Greenville after a long brokerage and investing career in Silicon Valley - also spent ten years in Forest Hills Queens.

Greenville is more of a capital growth market an appreciation market rather than a cash flow market.

Clearly, investors want both cash flow and appreciation, but I have found the relative weighting given to either is a function of where an individual is at in his or her career, income level, and particular needs.

I believe (my opinion and I understand others think differently) is that early on and into peak income years - the proper focus is on appreciation - growing that nest egg   long term - one has sufficient income and does not need income from RE to live. As one ends their working career and nearing retirement, I believe the focus should shift to cash flow. Once one leaves the W2 rat race and that big paycheck, we know special security won’t maintain our lifestyle won’t provide the life we worked decades to create, so at that time, one needs income and cash flow. The bigger the nest egg, the bigger the cash flow you can create.

Again, just my opinion, just what I have done during four decades of successful real estate investing, built my real estate portfolio by buying one house at a time in growth appreciating markets and watched my equity explode while the properties paid for themselves. Didn’t put a lot in my pocket each month but I didn’t need the cash anyway. Now at the age of 65 soon to be 66, I am transitioning my portfolio towards cash flow.

I write all this at the risk of boring you 😀, to indicate if your are a long term investor looking for capital growth, Greenville is a great place to invest - on the I85 corridor smack dab between two economic powerhouse Charlotte and Atlanta.

I own several small income properties in the Upstate.

Happy to help educate you about the Greenville market.
Hard to go wrong investing anywhere in the Carolinas.