All Forum Posts by: John Dellinger

Check the local assessor's website to find out what the property taxes are.  
AssessorSearch (richlandcountysc.gov)
Your taxes will be based on your HUD, so keep that in mind when you check the current taxes on the properties.

I would assume 3% for Richland county.  They are HIGH for investors.  Cayce will be less.  

I would recommend Mary Twitty at the Shandon Group for PM and Christopher Bunge for a real-estate agent.  He also partners with Megan who is great GC.  I'm sure there are many other great PM's, Agents, and GC's in Columbia as well.  Mary Twitty is also an excellent agent for finding good deals.

Hi David,

I too am a OOS investor; however, I am from Columbia and my entire family lives there.  I have 4 properties there.  I think all of those areas are solid plays.  I was just in Columbia, and I was shocked at how much the culture has changed since I left in 2001.  This is the main difference:

People are moving in, and graduates from USC don't want to leave.  It is truly growing in ways that most locals can't comprehend because Columbia has always been a "stable market" meaning no appreciation but high cashflow.  I believe this represents an opportunity because a lot of local investors are scared to invest because of the fear of a market plummet.  2008 effected the Columbia market horribly.  

Columbia can be street by street, so it is very important that you have a trusted Agent or PM on the ground to tell you if a street is a "warzone" because you do not want to invest on those streets unless you are willing to manage it yourself. Some PM won't touch it. If its a SFH and more than 200 k, it likely is in a good neighborhood, but always double check.

I hope this was helpful. 

Best of luck to you and your partner.

Hi Jacob,

PenFED will do HELOC's and RELOC's on your primary + two investment loans. For some strange reason, they won't do more than 3 loans. They do up to %80 LTV on investment property at 4.75% Variable and 90% on your primary residence at 4.75%. They charge $100 per year per credit line unless your interest payments on the loan is more than $100 per year. I believe they don't charge closing cost. Anyone can sign up for PenFed. Hope this helpful.

Hi Jacob,

PenFED will do HELOC's and RELOC's on your primary + two investment loans. For some strange reason, they won't do more than 3 loans. They do up to %80 LTV on investment property at 4.75% Variable and 90% on your primary residence at 4.75%. They charge $100 per year per credit line unless your interest payments on the loan is more than $100 per year. I believe they don't charge closing cost. Anyone can sign up for PenFed. Hope this helpful.