Long-term vs mid-term renting in North Charleston, SC

[Rachel Manning]

We're considering a SFH investment property in the Park Circle area. Just looking for someone's expertise if this would be better to rent long term, as this area seems to attract young families or would we be able to rent more mid-term. This area isn't cheap so don't want to risk a place sitting for months. Any insights are appreciated. - Andrew

[Bonnie Low]

Have you run any numbers yet? This is a pretty broad question and the answer is always going to be very area specific. Start by finding an investor friendly Realtor. It's really critical that you work with someone who understands investing and the strategies you're trying to deploy. Your average Realtor who sells primary homes is not going to be a good resource for you. Then consult some sources to understand what your LTR rents might be. A lot of people use Zillow, Rentometer, Realtor.com, apartments.com or just call a local property management company. If you're running the numbers as a midterm rental, I recommend you start by looking at properties listed on Furnished Finder and also look for 30+ day stays on Airbnb as a starting point. This will give you some idea of what you could possibly make. Since you said it's not cheap and can't afford to have it sit vacant for months, you really want to be thorough in your underwriting.