One way to get ahead cash flow wise would be to buy a property that needs significant work or one where you can add a second unit or more square footage. It takes more time and more capital but it might be the only way to obtain a property in the end that rents out for more than the final monthly expenses.
Explains why rent here is 3500 and up for a single family home. Makes all the sense now. Wickedness I tell you. Inventory is low and people overbidding so now they buy and rent but nobody can afford smh these homes gonna foreclose in the next two years.
Isn't one reason that it is difficult to cash flow a investment property in the Charleston area is that the non-homesteaded property taxes are around triple the tax amount of homesteaded properties?
@@natalianatalia383 it all depends on if the owner is using it as a primary residence. Primary residence property taxes are about 1/3 of second home/investment properties. When you purchase a home in SC, you apply with the county to let them know it is your primary residence and then it is reflected on your taxes.
Considering the analysis presented, do you believe there are untapped opportunities or emerging trends that investors should be paying closer attention to?
Couple videos back your spreadsheets were not up long enough but now they are up way too long nearing 5 whole seconds…who has time for that bill ? and I surely don’t have anytime to write comments likes this nearly every week. #justmakeeveryonehappybill
Add Charleston to the list of unaffordable cities on the East Coast like Boston, NY, Phily, DC ect.
One way to get ahead cash flow wise would be to buy a property that needs significant work or one where you can add a second unit or more square footage. It takes more time and more capital but it might be the only way to obtain a property in the end that rents out for more than the final monthly expenses.
Agreed. There are many different ways and countless scenarios, but right on the surface it was shocking numbers.
Explains why rent here is 3500 and up for a single family home. Makes all the sense now. Wickedness I tell you. Inventory is low and people overbidding so now they buy and rent but nobody can afford smh these homes gonna foreclose in the next two years.
Isn't one reason that it is difficult to cash flow a investment property in the Charleston area is that the non-homesteaded property taxes are around triple the tax amount of homesteaded properties?
That has always made it more difficult, it’s become increasingly harder.
How can I find out if the property is homestead or not homestead? What is the difference?
@@natalianatalia383 it all depends on if the owner is using it as a primary residence. Primary residence property taxes are about 1/3 of second home/investment properties. When you purchase a home in SC, you apply with the county to let them know it is your primary residence and then it is reflected on your taxes.
Considering the analysis presented, do you believe there are untapped opportunities or emerging trends that investors should be paying closer attention to?
5/12/23 Viewing; loved it.
As always. I appreciate it.
Couple videos back your spreadsheets were not up long enough but now they are up way too long nearing 5 whole seconds…who has time for that bill ? and I surely don’t have anytime to write comments likes this nearly every week. #justmakeeveryonehappybill
My motto is “not for everyone”