Your Northern Greenville and Spartanburg County Experts!
We proudly serve Northern Greenville and Spartanburg counties. Let us help you discover the best of rural living in Campobello, SC, The Cliffs Communities in SC, Landrum, Spartanburg, Greer, Travelers Rest and the Boiling Springs and Lake Bowen areaS! From equestrian properties, to mountain views and lakeside living, we’ll help you find the home and lifestyle of your dreams!
We can also show you the best of Upstate urban living in our vibrant cities. Come home to South Carolina – it’s all here for you! Contact SC Homes and Land today for more information - 864.468.1111!
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Investing in Real Estate – SC Homes and Land, LLC
Audrey Arledge will help you find home and land investment opportunities in South Carolina! If you are new to real estate investing, here are some basics to help you get started!
Investing in South Carolina Land
The key to successful land investment is clearly understanding the zoning and allowable use of the parcel, and knowing how the property may be best improved or enjoyed.
For example, raw land that is unsuitable for a home site may still offer hunting and recreation opportunities. However, that same parcel could be “landlocked” and only accessible at one point, via a deeded easement through a neighboring property.
Buildable land is among the most profitable land investments, but you must verify deed restrictions, utility access, well drilling or municipal water hook-up, sanitary system installation and so on. Soil tests and surveys should be conducted. You’ll want to know if there are any recorded or unrecorded easements on the property, and a thorough title search is a must.
Land investment can be complicated by conflicting ordinances and regulations. Your future plans for the property can be hampered by changes in local zoning and land use planning. A local land expert like Audrey Arledge can give you priceless insights!
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Investing in South Carolina Rental Properties
Owning year-around residential or vacation rental properties can provide monthly cash flow and asset appreciation. Ideally, the rental income should be enough to cover any mortgage expense, as well as property taxes, insurance, maintenance and repairs. The goal is to generate positive cash flow from your property, while it gradually increases in market value.
This gives you two opportunities for profit: monthly cash flow while you hold the property, and a lump sum profit when you sell.
In the case of a vacation home, offering short-term rentals can offset your costs of ownership. There are specific income tax laws that come into play when you own second home for your own use, but then rent it out for short periods. Ask your professional tax preparer for guidance, and plan your purchase and use accordingly.
If you live a distance away from your rental property, or you prefer to be a landlord at arms-length, hiring a property manager is money well spent!
Flipping a South Carolina Home
“Flipping” involves buying a home that needs some work, making the necessary improvements, and then placing it back on the market. Flipping is a short-term investment strategy that is focused on making quick lump-sum profits.
For those who can do repairs themselves, flipping provides attractive profits. For those who need to hire contractors to do the work, the profit margins are slimmer, and the risks of financial loss are greater. Successful flipping requires a strong understanding of repair costs.
Flipping also works best in locations where home demand is strong. A long-term, buy-and-hold strategy can ride out most market changes, but home flippers can be caught off-guard by sudden dips in values. This is one reason why “flip” investors try to bring the property back on the market as soon as possible.
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