Hey I am fairly new to this website. I am active duty Air Force in Tech School and just found out last week that my first duty station would be Shaw South Carolina. I wanted to know if anyone has invested int hat general area or in South Carolina in general. I would like to know what the market is generally like over there, what to look for, and some tips or things that I should know before I invest. Anything would be much appreciated.
@Ryan Copeland Thanks so much for your input and advice. I love that you have already did research and are willing to help me out. I would definitely love to talk to you more about this stuff when you are available.
Check out the BP tax lien forum. I and many others have posted about this. Read throught this info and then let me know what questions you still may have.
Also Google this topic.
I am happy to answer and specific questions you have after you read through some of this.
Flipper/Rehabber · Piedmont, SC · Member since 2018 · 119 posts · 50 votes
6y
@Joshua McClam welcome to bigger pockets. Best site around. Try to check out the webinars and use the calculators. Shaw Air Force base is in Sumter sc. it’s close to Columbia South Carolina. I know there’s a lot of people on here that invest in Columbia area. I’m from upstate South Carolina which is about 2.5 hrs away. Try to figure out which direction u want to go. Wholesaling, flipping, buy and holds or many other directions. Feel free to reach out if u have any questions. Good luck.
Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
6y
You are close to the university of SC. A lot of people invest in student housing. You are also close to lake Murray where you could have a vacation rental.
@John Hovanec Thanks so much for the response. I have listened to the podcasts quite a bit and I know I want to buy and hold since that is my style of investing. I would love to talk more about the area as I know nothing about it.
@John Underwood Thanks for your response. I appreciate it. That doesn't sound like a bad idea honestly. What does the housing market look like over there? I am a buy and hold investor. I wanted to get a duplex or something multifamily but I can get a SFH if that's more popular in that area
Rental Property Investor · Columbia, SC · Member since 2020 · 244 posts · 275 votes
6y
Hello @Joshua McClam. I live in Columbia SC and I'm new to RE investing. I've been studying the market for the past 3-4 months. This town has a lot of out of state investors because the market is so stable here. I haven't found a lot of "deal" on public listings, but I have found a few that would work based on the BiggerPockets calculators. I just haven't bought yet because we're closing on a new home for our primary residence in 2 months and I don't want to trigger any risks with that loan by purchasing investment property beforehand.
One thing to be aware of in this market are the taxes. For investment properties, the taxes are 3x higher which will derail a deal if you don't account for it. Also, for SFH (3BR,2BA) the rents seem to range from $1,000 - $1,500. I've seen some going for more, but that is rare from what I have seen. So you want to be SURE that you conduct good analysis and have your numbers right before you buy.
Being that you will be stationed at Shaw AFB in Sumter, a good area to consider for house hacking or maybe even rentals is Hopkins SC. I haven't met many investors or realtors who know a whole lot about Hopkins, but I've seen some good looking investment properties for seemingly low prices. It may be a good idea to poll fellow airmen at Shaw to see where most folks there prefer to live. If it appeals to them, it may appear to future airmen who will get assigned to Shaw AFB.
I'd love to connect with you. Maybe we can learn some stuff together.
Rental Property Investor · Columbia, SC · Member since 2020 · 244 posts · 275 votes
6y
Hello @John Underwood. I'd love to connect with you to learn more about tax lein properties. I've always heard about this strategy, but have never met someone with the experience of doing it. Being that you've acquired 19 properties this way I'd love to learn from you.
@Ryan Copeland Thanks so much for your input and advice. I love that you have already did research and are willing to help me out. I would definitely love to talk to you more about this stuff when you are available.
Hopkins is a very poor school district. However, if you want to stay in that area I'd move the search a little closer to Columbia along hwy 378. Its further away from shaw but closer to ft. Jackson. There are just as many potential renters with a lot better access to jobs, entertainment, education and military.
@Ryan Copeland Thanks so much for your input and advice. I love that you have already did research and are willing to help me out. I would definitely love to talk to you more about this stuff when you are available.
Check out the BP tax lien forum. I and many others have posted about this. Read throught this info and then let me know what questions you still may have.
Also Google this topic.
I am happy to answer and specific questions you have after you read through some of this.
New to Real Estate · Columbia, S.C · Member since 2020 · 2 posts · 1 vote
6y
Hey , how it's going @Joshua McClam , welcome to BP community. I myself is new to the BP community and is willing to learn more about REI in Columbia and surrounding areas. I am a veteran also and just purchase my first new home in Irmo, S.C (I'm literally within 10-15 mins from Lake Murray). Just how @John Underwood mention earlier, there are tons of vacation rentals and "fixer uppers" near lake murray and also around the Columbia area.
Lets stay in touch and again, welcome to the Palmetto State.
@john Underwood I will make sure to check that out. I am all about learning new things. So I will take a look and see what's possible. Also what are your thoughts on auctions for houses?
@Louis Maxwell Thanks for your response. I appreciate it. I don't know if I would be able to use my VA loan for vacation rentals or fixer uppers. But if I am able to, I would also have to stay in the house and learn more about how to fix houses and add things which will force appreciation in the house. I would definitely like to keep in touch with you and we can talk more about it.
Rental Property Investor · Irmo, SC · Member since 2018 · 40 posts · 18 votes
6y
@Joshua McClam Welcome to South Carolina and the investing community here! I'll echo the sentiments of many here. Columbia is a great market; we're seeing lots of out-of-state investors recognize that as well. Both of the main local REIAs are meeting virtually. I would encourage you to join them. There are deals to be had. I would encourage you to subscribe to the buyers list of local wholesalers. I can provide a link for our company. As mentioned, the student housing market is strong. Multi-family is always enticing, but SFR are strong here as well if you buy right. Lexington, Irmo, and several parts of Columbia provide stability. There is also a local hard money lender who could possibly help with funding if needed. They are familiar with the market, which would probably be helpful given that you're just getting started.
Rental Property Investor · Sumter, SC · Member since 2015 · 334 posts · 531 votes
6y
@Joshua McClam Hi Joshua, I live right here next to Shaw. Free air shows every day, lol. The rental market is terrific, I listed my last rehab back in April and got it rented the next day. Multifamily and duplexes are hard to come by, though. I buy SFH and have done well - Dalzell, Oakland, the areas around Sumter High school and Kingsbury Elementary, anything around Alice Drive are all great areas. My rents range from 775-900, B to B- homes, generally military folks and young families. Be ready to pounce on a home you want, they tend to go quickly, especially recently.
I'll be happy to answer any questions I can. Welcome to Shaw!
@kayce Tackett I am excited with the amount of information that you have told me in this post. I will definitely be in contact with you. Also the meet ups will be a lot of help for sure. I want to do Multi Family but overall I want the numbers to make sense so I can have positive cash flow. But this is great news. I am sure I will have people willing to help me out to start the journey. I appreciate all the help and information.
@Dawn P. Thanks so much for that information. I am glad to hear that. I would love to hear more about your story with renting in that area. I might get military folks since its a predictable income but I also want good quality tenants. I will make sure to inbox you to ask more questions