New Investors in Columbia, SC

[Brandon Spence]

Hi Guys,

My wife and I have bought and sold several houses over the years and now we're looking at buying rental property near our home in Columbia, SC. For those that aren't familiar with Columbia, it's the state capitol and the University of South Carolina is located there. We are looking at a 2/1 duplex that is just a block or two away from the university athletic fields. The unit is old and has not been taken care of however it's made of cinder block so there's no real damage to be done. The current owner has not leased to college students in the past and has a tenet that has been there for 26 yrs and only paying $400 per month! We feel like it can be cleaned up and rented for at least $650 per month but we have a lot of questions and we're a little nervous about pulling the trigger. Any thoughts would be greatly appreciated? The website is great. Thanks.

Brandon

[Will Gaston]

@Brandon Spence I wouldn't buy it with the expectation that you can rent it for $650 this school year. It's probably too late to buy it, fix it up, and rent it before school starts on 8/18. $650 is reasonable for a 2BR/1 Bath apartment though.