South Carolina

[Rob Swan]

Hi, I have a friend who is looking to close his first deal in Colombia on a foreclosure in the 29203 area, near USC.  Can anyone offer advice about the pros/cons of that area?  Also, does anyone know any good lenders in that area?  Finally, any solid management companies.  He's a sharp dude that came into a fair amount of money and wants to do real estate.  Right now he's doing his research and due diligence with my companies help but we are out of the area.

If there are any pros in Colombia who would like to meet him for coffee and maybe give him some quick feedback on the deal he's looking at that would be awesome.  It seems like a pretty legitimate deal.  I'm going to help him with a full analysis so he will have better data to provide anyone as well.

Thanks to the BP group for all your help in advance.

[Anna Buffkin]

advice: RUN!

My husband is from Columbia and I lived there for 8 years.  We have 2 rentals in Columbia.  A house hack in Irmo and a condo in the Rosewood area.  

If I see 29203 area code, I don't even open the listing. Much of the area is a war zone.  The area keeps trying and failing to revitalize.  I would not go there at night if you paid me.   Also Columbia metro area has 2 of the best school districts in the state Richland/ Lexington 5 and Lexington 1.  The 29203- comonly refered to as Eau Claire - is in Richland 1 which is a sub par district.  The high school there is one of the state's worst.

Also yes it is near USC- I am a grad- Go Gamecocks!, but I have never met a student who lives in Eau Claire.  Most students live so downtown, in Rosewood area, or Cayce/west Columbia area.  

If you are marketing to students, look in 29201, 29205, or Cayce- can't remember the zip.

I like Irmo.  It is arguably the best school district in the state. I get 30+ calls and my pick of tenants in Irmo. 

As for Columbia as a whole, 40% of Columbians rent and the city hosts 7 colleges. 

I personally would not invest there and would not recommend it to others.