Hello BPers in Lexington And Columbia SC AREA.
Curious how the SFR rental market is there? I have the potential to purchase a portfolio of 6 (3 in Lex, 3 in Columbia). I own property in Charleston and Sumter. Thanks for any insight you can provide.
How is the Cross Hill and White Horse roads area of Lexington?
Is there a reputable property manager in that area? Real estate agent that you would recommend? Contractor? Inspector?
What about Hamby, Haverford, and Birchwood roads in Columbia? Thanks.
@Matthew Carducci since no one has responded to your keywords you may want to do a zip code search and find some folks in the areas you are interested in and reach out to them.
Rental market in both areas is great. I recommend Property Consultants of Columbia LLC. I use them and they have made my rental experience absolutely hassle free.
A lot of investors stay away from the 29203 zipcode. Even though the rental market is pretty good there. You should use the lack of investors to your advantage and make sure you get a great price.
So sorry I'm this late to your post. I gotta get better about my key word response times. Anyways, I'm an investor and agent in this area. I live in Lexington and love it. As mentioned above, I also avoid 29203. Ive looked at white horse and cross hill in the past and wrote it down as a "no go" zone as well.
West Columbia by the old town and CF Processing Plants are interesting areas. They are redeveloping the area. Has anybody tried that area?
West Columbia just came out of a decades-long snooze and the area is being taken seriously as a place to invest. Prices are reasonable now but probably will not stay that way for long.
There is a lot of development and money being thrown around that it doesn't look like a bubble. It is genuine change.
@ Matthew Be warned. If you are out of state and not living in the rental the property tax is much higher (6%). I talked to the Lexington County Tax office and they confirmed it. However, they could not confirm if the tax assessment is based off of the sales price or a county appraisal. So, budget that current taxes may double or triple.
@Pete Widell I dont understand. Are you saying if someone from out of state owns a rental property in South Carolina they will have to pay 2-3x more in property taxes??
Any rental property that the owner does not live in is taxed 6% as opposed to 2% if it is the primary residence.
Owner occupants pay a 4% tax and non owner occupants pay 6% tax. Also the tax is based on the purchase price of the home.
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