AirBnB in Charleston , SC in 2020

[Rene M.]

Hello everybody,

After a couple months, some holdup with COVID we finally bought our first own house in Mount pleasant with 5% down. Terrible realtor experience with the realtor who was suggested by the lender and came with 2k credit... anyways

I still got 50k which I did not use for the downpayment, for which we are thinking about buying a small SFH, townhouse or duplex with the sole purpose to rent on AirBnB.

So about 200k budget

I know rules and regulations are fragmented and have already extensively researched Downtown and city of Charleston. As I won’t be owner occupied it won’t work.

I know the beaches work but is out of budget.

1. I know Mount Pleasant has only limited number of licenses. Does anyone know if they still have availability? Maybe a cheap townhouse could work there - more like 220k but fine

2. How is it in the North Charleston area or in Charleston county outside of city limits?

3. Anyone experience with Berkeley country/Hanahan?

4. Last but not least: Summerville/Ladson or Dorchester county

I don’t really need to know all, but would love to hear from someone who knows the market. Where I can still legally do an AirBnB.... that regulations can always change is clear, but would hope my rights would be grandfathered in. Anyways if there is a high likelihood that regulations change soon please let me know.

Has anyone gone that route? What went well? What would you do differently?

Thanks

René

[Reid Matthews]

@Jacob D Adamczak west Ashley is close enough to downtown to be including in the rebounding strong market. Rene was talking about Airbnb’s north of North Charleston. Hanahan, Summerville, Ladson. I would skeptical that those areas would have good Airbnb’s right now or ever. But I don’t currently operate any in that part of the world. So I could be wrong.

That’s awesome to hear that to you are crushing it! Good to know how other parts of town are doing!