All Forum Posts by: Monica C.

There are still a lot of opportunities to invest here in SC. However, it is extremely competitive right now. It's even harder for out of state buyers who are unfamiliar with different areas and do not have contacts yet. In Charleston, for example, we have less than 1,000 single family homes available for the tri-county area. Of that, about 1/2 is new construction. This is the worst inventory shortage we've seen and isn't likely to improve soon. We may see a surge in listings this Spring, but competition also spikes, so it will likely be about the same.

My suggestion would be to get moved here, then find a market in close proximity and start hunting. Wait until you can physically drive these areas and walk the homes before you start making offers. You don't always have to do that, but newer investors should be more diligent with their first properties.

Hey Troy! Thank you very much for the insight. Have a great day!

1 Vote

Originally posted by @Coury Cast:

@Monica C. I agree with Grant. Definitely think you should go for it. My tax accountant has never discouraged me from investing in real estate. I just purchased a LTR in Columbia last year and I have no regrets. I have property manager contacts in both Charleston and Columbia. Feel free to ping me.

Coury, I will definitely take you up on that! Thank you very much for taking the time to offer your contacts. Talk to you soon!

0 Votes

Originally posted by @Grant Schroeder:

@Monica C. it sounds like you might need a new tax guy! Whether you jump into LTRs in CA and SC, there is never a bad time to get started in real estate. A good CPA should be well versed in REI and not pessimistic about the goals you have set for yourself. If you want to jump into SC LTRs in the next 6 months, I would use this time to build your team there of people you can trust. I would encourage you to go for it!

Grant, I really appreciate your encouragement! Giving my tax guy a benefit of doubt, he has known me for 12 years to be a "stable saver" and i think the idea of draining my savings into a new venture that excites me and changing career directions was alarming for him. Although, I do love the idea of someone who can support my goals and help pave the way rather than adding mental road blocks. Thanks again for your feedback!

1 Vote

Good morning All! I am construction pm based in California, looking to move to South carolina(family out there is getting older). I would like to secure 2 LTR in next 2 years so I have some established cash flow when I move to South Carolina.

I just had my annual appt with my tax guy and he advised now is a HORRIBLE time to get into real estate and that I'm better off in stocks. I have no desire to mess with the stock market and every desire to renovate distressed housing as my new dayjob in South Carolina, since I already work construction (total passion of mine) and have a lot of carpentry skills required for building sweat equity.

Question is, should I continue to seek out deals to get this process started (buy in next 6 mos) or should I sit on my savings another 6 months and reevaluate? I have 30k sitting in the bank, 710 credit score, 18% DTI, and the markets I'm looking into now are Hilton Head Island, myrtle Beach, Charleston and Columbia (inland).

He also advised that any long distance property manager is going to screw me over and honestly that really took the wind out of my sails hearing that.

If anyone has referrals for reliable, productive property managers and realtors in these markets, that would be greatly appreciated!

Thank you in advance for your time and sharing your knowledge.

Kind regards,

Monica

2 Votes

All Forum Posts by: Monica C.

Monica C. has started 1 posts and replied 4 times.

Post: South Carolina Rental investment

Post: South Carolina Rental investment

Post: South Carolina Rental investment

Post: South Carolina Rental investment