All Forum Posts by: David Freeman

Hi all,

My business partner and I have identified Columbia, SC as our next rental market. We are OOS investors.We'd like to begin purchasing SFH properties there at a pace of 1-2 every 3ish months. I'd love everyone's opinions on the following.

Areas we're looking at:

Five Points, West Columbia, Lexington, Downtown, Irmo, Shandon, Rosewood, Olympia, Ballentine, Earlewood, Forrest Acres, Millwood, Blythewood, Chapin, Quail Valley, Spring Valley, Elmwood, Arsenal Hill, Broad, Bush River

Areas we're avoiding:

North Main, Two Notch, Friarsgate, North Columbia

1st question: Are there any areas we aren't looking at OR are there any areas we should be avoiding that we aren't?

2nd question: We understand tax implications at a high level but are still struggling with how to estimate investment property tax over regular property tax. Are there some resources you all recommend?

3rd question: We're looking to connect with other local 1) real estate agents and 2) property managers. If you are either of those, please reach out so we can chat! We already have a few high quality 

Our ideal house is between 75,000 and 125,000. We're willing to pay a premium for recently renovated homes or homes in good shape. Brick homes in particular. 

Thanks everyone!

Super interested in this as well!

@David Song - 

That's exactly my point. If a local investor only has enough capital for a $250k house, why would they purchase an empty lot in the bay area for $250k? This assumes they have the additional capital, knowhow and time to manage a property build on top of this land. I'm a bit confused as to what you're saying. Are you suggesting to just buy vacant lots in the hope that they'll appreciate?

@David Song That is ideal (I'm from the Bay Area) but I can't find a sub $250K house for my first property within a 1 hour drive to the city, unless it's a wreck with a lot of work. Out of state seems like the only option for me. I'd love to be wrong though. What is your suggestion?

Curious about this as well. I think the key point here is whether most real estate owners in SF have high equity ownership. If so, they should be able to manage lower rental rates. Large developments on the other hand could suffer, especially if they are leveraged.