Investment Property Charleston SC | Income Producing Real Estate CHARLESTON SC INVESTMENT PROPERTIES & INCOME PRODUCING REAL ESTATE For investors in Charleston SC the real estate game is a tricky one. We all made thousands and — probably millions if you add it all up — flipping houses, leasing offices and renovating condos. Then the real estate market collapsed, throwing the U.S. into the 2007-2009 recession. Now the prognosis for real estate investments is looking much better, though it’s anything but simple. Some commercial real estate has rebounded, with investors craving income that real estate provides, while Low-country residential Charleston real estate — particularly single-family homes — may be at once-in-a-lifetime bargain prices. Multifamily properties in SC and believe it or not, mobile home parks are very popular investment strategies for those looking into real estate investment over traditional REITs, or stocks. MLS Listings Data Total Listings: 97 Average Price: $1,539,995 Highest Listing Price: $9,745,000 Average Days On Market: 178 There are currently 97 investment properties for sale on MLS in Charleston SC. Multi-family & rental real estate property listings have an average sales price of $1,539,995, ranging in price from $515,000 to $9,745,000. The average sq ft investment property is approximately 3,052 square feet for a property in the Charleston market. The largest property for sale is 13,334 sqft and the smallest 0 sqft. View property listings for sale by price, street, subdivision, age, property type, location, features, size, listing date, and time on MLS with an average of one hundred seventy-eight days on the market. Relative Sort by Year Built: low to high Sort by Year Built: high to low Sort by price: low to high Sort by price: high to low Sort from oldest to newest Sort from newest to oldest Sort by status: active to under contract Sort by status: under contract to active Saving Subscribe Unsubscribe Loading... MORE ABOUT BEING A REAL ESTATE INVESTOR OR DEVELOPER Four top experts were asked for their take on the the opportunities and potential pitfalls facing real estate investors in the coming years. Edited excerpts of their interviews follow: Jim Sullivan, managing director of REIT research, Green Street Advisors Every diversified investor should have some exposure to commercial real estate, and REITs [real estate investment trusts] provide a terrific, transparent and liquid way to get that exposure. Operating fundamentals in most property types range from good to great, with good being the shopping center business and industrial business and great being the apartment business. The economy is not doing great, but the silver lining for commercial real estate is how little new supply is coming on the market. Too much new commercial construction is typically what puts a halt to real estate recoveries. This time around, it’s just not an issue. Multi-Family Income Properties REITs tend to be specialized by property type. You can pick and choose, depending on what your economic outlook might be. If your forecast is a little rosier, you’d want to be in property types that respond well in economic recoveries — hotels, for example, or REITs that own shopping centers with lots of small tenants. If you wanted to be a bit more defensive, health care REITs are a terrific place to be. When investing in Charleston real estate the safe bet would obviously be in tourism based avenues considering that is the most consistent driver of revenue. The biggest opportunity is buying distressed single-family homes, because that market has been completely beat up. The next biggest opportunity is buying land because very few people have been focused on it. If you have a long-term view, you’ll probably see a significant multiple return. Buying land is a complicated business, though. Mom-and-pop investors should not be buying land. Lauren Pressman, director of investment research at wealth management firm Aspiriant The U.S. is in a period of sustained but very slow growth. Job reports are huge factors for real estate, because jobs create demand for housing, for offices, for travel and at retail establishments. We’re wary of things like retail and office, except in very unique circumstances. Multifamily real estate (apartment buildings) arguably had all the tail winds at its back to do the best of all asset classes. However, be careful. There is so much capital chasing multifamily, and that can lift prices beyond a point where your return is commensurate with risk. No matter what your strategy is always be careful and have a good local agent to help you navigate through the maze of options out there for investing in real estate in Charleston or anywhere. Find a great contractor in Charleston and let them help you with the renovations, and repair necessary to get a C.O. and move onto the next real estate opportunity. VACATION RENTALS One of the long tried and true income producing real estate investments popular in Charleston area is in beachfront homes or resort vacation rentals. It’s no mystery that homes in beach communities are very attractive year round and hundreds of thousands of visitors come to our beaches in S.C. to unwind. Homes for sale on the Isle of Palms and in Wild Dunes real estate make big money on weekly vacation rentals for their owners. Many developers and investors will even buy an existing home, tear it down and build a new one just for the returns it can produce. Weekly rentals on Folly Beach, Kiawah, Seabrook Island, and even downtown Charleston garner upwards of $4000 to $7000+. Even with HOA Dues in Wild Dunes, Kiawah Island, and Seabrook Island + monthly regimes for condos/villas these properties can get easily $30,000 yr for one bedroom to $90k+ for beachfront and 3 bedroom units. There has never been a better time to pull money out of the equities market and into real estate, rates are low, and prices are too.
How can you improve your credit score in South Carolina? So, you owe money—who doesn’t? But did you know that how much you owe makes up a whopping 30% of your FICO® Score? It’s like your score’s version of a love-hate relationship with your debt. The real kicker here is your credit utilization rate—basically, how much of your available credit you’re using on those trusty (or not-so-trusty) credit cards. While some experts suggest you keep this rate under 30%, it’s not like there’s a credit utilization police. But hey, the lower, the better. Aim for a number so low it makes your score do a happy dance. It’s virtually impossible to change your score in the time between when most people decide to buy a home or refinance their mortgage and when they apply. So the short answer is, you really can’t “on the spot.” But there are strategies you can live with to make sure when you apply for a loan your score is as high as possible. There are three credit bureaus or agencies.. EXPERIAN – EQUIFAX – TRANSUNION Make sure that the information each of the three credit reporting bureaus has on you is consistent and up to date. Order a copy of your credit report about once a year, and dispute any inaccuracies. Note: Theoretically, if a series of credit reports is requested on your behalf during a limited amount of time, your score goes down until time passes without any inquiries. Changes in the law though have made “consumer-originating” credit report requests not count so much. Also, a series of requests in relation to getting a mortgage or car loan is not treated the same as a number of credit card requests in a limited time. This is because the credit bureaus, and lenders, realize that people request their own credit reports to keep up with what’s on them, and smart consumers shop around for the best mortgage and car loans. Actions You Can Take: Taming the Credit Beast Got a credit card balance that makes you wince every time you look at it? Time to make paying it off your number one priority—like, before “binge-watching your favorite show” priority. Here are a few tricks to tackle that beast: Debt Consolidation Loan: Turn your multiple debts into one neat package. Balance Transfer Credit Card: Shift that debt somewhere with zero interest and give your wallet a break. Debt Management Plan: Call in the pros to help you organize that chaos. Debt Repayment Strategy: Try the debt snowball (smallest balance first) or avalanche (highest interest first) method and watch that debt melt away. Unsolicited credit card solicitations in the mail don’t count against your credit report, so don’t worry. The two main components of your credit score are your payment history and the amounts you owe. Bankruptcy filings and foreclosures, which can stay on your credit report for as long as 10 years, can significantly lower your score. It’s never a good idea to take on more credit than you can handle. It’s said that by carefully managing your credit, it’s possible to add as much as 50 points per year to your score. Credit card companies report to the credit bureaus about once a month—like clockwork. As you chip away at your debt, you might start seeing results in your credit score within a few months. So, keep at it, and soon enough, your credit score might just throw you a party. THE FASTEST WAYS TO IMPROVE YOUR CREDIT SCORES Late payments work against you. It’s extremely important to pay bills on time, even if it’s only the monthly payment. I know this one is obvious but it can’t be stressed enough. Don’t “max out” your credit lines. Since the size of the balance on your open accounts is a factor, lower balances are better. Pay off your credit lines, BUT, NOT the oldest one.