All Forum Posts by: Gavyn Piver

Also running into this dilemma! We bought our first home in SC with plans to rent it out. Not realizing Owner Occupied Taxes are wayyy cheaper than Investor Property Taxes. Ours would potentially go from $2,095/yr to $8,895/yr. That absolutely eats any potential cash flow.. we moved here because of cheap property taxes and turns out it’s not so cheap after all if you’re an investor lol. Hopefully the appreciation and the potential write offs are worth it! 

Currently dealing with this and came across this post! I guess not enough due diligence was done on my part. We bought this property in York County, SC with the goal of turning it into a rental. After 3yrs, the time has come! Started looking into tax implications and yeah 6% kills all cash flow we were hoping to get and would have us in negative cash flow (-$221/m to be exact). It would be 4.21x our current tax bill 😱($2,095 to $8,895). My network of cpas, attorneys and investors are telling me it’s still worth it because of appreciation and tax benefits. New to all this and still learning! We’ll see how this next month goes! SC seems owner occupied friendly, but not investor friendly.. and I LOVE living in SC.