All Forum Posts by: Neil Schoepp

Looking to gain a deeper understanding of the Greenville, SC market. I driven over 65 properties and have completed a fair amount of demographic research and now I am looking to add and/or eliminate markets with in markets with in markets. 

Demographically speaking San Souci is coming up short, especially the schools. I have a broker telling me there is a path of progress between Downtown and Cherrydale Mall and San Souci is part of it.  That projects such as Hampton Station Birds Fly South Brewery, Poe-West Mill retail and access to the Swamp Rabbit Trail are all positive indicators. That flippers are buying up the old mill houses. 

That people who want to be in downtown but either cannot afford it or cannot find somewhere to rent are coming into this area and that they don't want to go any further than West Blue Ridge.

Can anyone with extensive knowledge either from living in the area or investing in the area offer their opinion and maybe even some resources of further information. I am already reaching out to GADC.

Is this area going through gentrification?

Appreciate the help, as always if I can add some value to your operation somehow please just let me know. I invest MF properties in Greenville, Charleston and Mrtyle Beach.

Be Unstoppable!!

@Jason Merchey that storm you mentioned does it happen to be the same one that flooded the day care late on a Thursday. I almost floated away in my roller skate rental up on Remount and rivers that day. 

I'd love to connect and discuss the North Charleston market with you. If you are up for it. 

Be Unstoppable!

@Joe Dardano in short what @John Underwood said but first I would caution you to research them for yourself. You should be able to come back here and tell us why those are areas we recommended don't just blindly take our word for it. 

@Greg Gillespie Greenville is a great market. Don't worry about not pulling the trigger and getting beat out. No deal is better then a bad one. 

I would first consider what you want to get out of investing in real estate and how hands on you want to be. Some folks want to offset their W2 income and just buy a few SFH and or small MF tris and quads. Others network and form partnerships to take down bigger properties and still others use their funds as a LP in a syndication. All very viable options that are dependent upon what you are looking to put in and get out of the investment both time and money wise.

I am presently looking at the Greenville MSA as well as Charleston and would be more than happy to discuss what I've learned about those areas as well as MF. 

In short build your foundation (education) around what system resonates with you most. Then go out and find that type of property. Greenville has it all so you won't have to venture to far.

Be Unstoppable

@Quang N Dinh @Kenny Johnson

I would call both CresCom and Carolina One.

I always change the locks on smaller properties to key pads. They cost a tad more upfront but I can easily change the code when needed and there are no more lock out calls.

It's a duplex when is the other units lease up? How long have they been a client? It may pay to wait and move into that side. You will be asking a client to leave that has been there since 2002, there aren't going anywhere in the future and the biggest expense you have is vacancy and turn cost. I'm not saying don't do it i'm saying think it through. You have a client that isn't going anywhere, you ask them to leave and you move in, 6 months later the client renting the other half gives his notice, a new tenant moves in then moves out at the end of the first lease or maybe the end of the second. Now your into your second turn and screening, marketing process etc. Now none of this may happen. But just weigh the pros and cons to your decision is all I am saying.

If it were me I would give them more then the required 30 days. If they have been good clients and it sounds as if they have been. 

James, you protect yourself by looking at the property. You don't buy sight unseen. 

Research a bunch of markets that interest you. Run the numbers on those markets and then when you have decided on which market you want to invest in GO VISIT THAT MARKET. Spend a few days there meeting with PM's and brokers. Drive to no less the 25 properties and look at the product. Get to know the market. If you like the market drill down on it. Know what vacancy is, rents are, what expenses are per unit, what properties are selling for per door, per sqft, etc.

You may find my response to this following BP post helpful.  looking to invest out of state

If you don't find someone in Atlanta I would reach out to either of the two below. They are both excellent. Jillian is based in California and Kim is in St. Augustine, FL. 


Kim Taylor          Jillian Sidoti

@Dannielle O'Buckley Congrats on taking action to create a better life. I am originally from NYC and now live just over the border from NY in Milford, PA, just under Port Jervis, so not that far from you. 

I invest in South Carolina. Both Charleston and Greenville. 

1. Do you have any ties to any markets. Did you go to school in a different market then you live? Do you have family or friends in other parts of the country. Are there places that either you visit on a regular basis or would like to visit? 

If the answer is no to the above then start like this

1. Which part of the country resonates with me most?  Northeast, Northwest, Southeast, Southwest, Midwest

2. Within that section what are the bigger MSA's? So for instance the southeast has Charlotte, Atlanta, Charleston, Greenville, Jacksonville, Orlando, Knoxville, Nashville, Little Rock, Birmingham, etc.

Another way to get market leads is to type top 10 retirement city's or top ten city's for population growth, or job growth, top 10 best place to live, work, vacation, go to college, etc. let your mind run wild.

3. Pick the ones you like best and run the numbers.

      Visit Bestplaces.net and city-data.com

Collect population, population growth over the last 5 years, job growth over the last 5 years, who the major employers are and how much of the job market they employ. Unemployment numbers, percent of population between 20 and 34 and then 55+ Vacancy rates, median household income, per capita income, median home price, to name a few.

4. after you lay out the numbers for each market you can then get a clearer picture of which market will best suit your needs.

Use resources like Viewpoint 2019, Berkadia 2019 national apartment forecast, 2019 Multifamily investment forecast to help aid you.

An article I wrote on this exact topic can be found here  https://pikecountyreia.org/picking-a-real-estate-market/ 

Please feel free to reach out to me if I can add value to you in any way.  I am always willing to pay it forward.

Besides the above mentioned stuff (Joe is excellent by the way) Look up a course on udemy by Neal Bawa called Real Focus.