I am from NJ and looking to start a rental portfolio in Columbia SC. I would like some guidance if possible from landlords in this city. Is there a strong demand for rentals in this city?
@Robert Dantec there are plenty of investors from Columbia on BP. And more joining all the time. Welcome aboard!
As for the market: "strong demand" is relative. We obviously think its a decent market but i'm sure there are better ones out there.
In a nutshell... Rents are good compared to home prices (1% rule is easy to find). Military and College creates demand. BUT... Appreciation is almost non-existent in most of the city. Taxes are high for investors.
I know of a few small portfolios that one could start with. PM me if interested.
Thank you @Andrew R. Lucas
@Robert Dantec I have been buying student rentals in Columbia for the past 13 years. I mainly buy in 29205 and 29201 zip codes (I'd recommend staying away from 29203 for an out of state investor). Agreed with @Andrew R. Lucas on his comment. Columbia is a great cash flow market but not ideal for appreciation.