Canadian Looking at South Carolina Multifamily

[Andrew McArthur]

Hi all, I'm from Toronto and been doing research into South Carolina's Multifamily market, specifically Greenville, Charleston, Columbia. 

I come from a decade of experience in sales, with a client base and network grounded in entrepeneurs, and executive/partners on Bay St (Canada's Wall St). Recently decided to jump off the deep end and start my journey in Syndication. 

I'd appreciate some insight from some local investors. From what I can tell, Charleston is considered a Growth market, Columbia an Income Market, and Greenville appears to be a hybrid (this is what I'm looking for). 

I've also done some high level analysis of Nashville TN, Tampa FL, and the state of Georgia. SC seems to be the most intriguing to me so far. 

Looking forward to connecting with you all. 

[Will Gaston]

@Andrew McArthur I've been investing in Columbia, South Carolina since 2005. I'd say the biggest landmine to watch out for is our property taxes. They are brutal in all of South Carolina, but specifically in Columbia.

A $1,000,000 investment property would be paying over $28,000 year just in property taxes.

#1 tip I'd give if you're buying existing (or building) is to call the assessor and ask specifically what the new assessment will be after improvements.