Lender · Nashville, IN · Member since 2016 · 138 posts · 84 votes
Hello BP friends,
I just made an offer on my first property in South Carolina. The numbers on this property are incredible, but I don't know anything about the market in Orangeburg, SC. Any advice or tips would be greatly appreciated from the BP community. Jobs, population growth, economy, risk of hurricanes, common inspection items to watch out for, etc.
This property was built in 1970 and is going to be a BRRRR for a 2,900 sqft SFR, so any contractor recommendations are needed and welcome.
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Investor · Charleston, SC · Member since 2021 · 263 posts · 122 votes
5y
Hey Seth! Orangeburg is a smaller town located between the middle of the state and the coast. Hurricanes are not a big concern as it's inland enough to avoid most effects other than a direct hit to SC's coast. You're likely wanting to look at Census data for your research but the Chamber has some other good resources as well: https://orangeburgchamber.com/...
Real Estate Broker · Charleston, SC · Member since 2013 · 794 posts · 454 votes
5y
@Seth Wilcock Orangeburg is hit or miss. I'm in the process of buying 10 units there. There's not much employment or growth right now, but it's very convenient to 26. The pressure growing down from Columbia and up from Summerville should assist with cottage industry there eventually. I expect things like logistics, trucking, warehousing, etc to hit there at some point. I've been told by the listing brokers on my deal that they're seeing a huge amount of 1031 money coming. I think a lot of people in Cola and Chas are selling SFD and small multifamily properties in those markets and then need to replace those properties with other cash flow deals. It's got a ways to go, but will improve over time. Just be cautious with your numbers because it's still a fairly depressed area.
