The opportunities for income properties are all around you, you just need to take a closer look. Here are three areas around Columbia that make it such a lucrative market.
With the city of Columbia having more than ten colleges bringing in student renters, the surrounding area of Columbia, SC has plenty of potential to real estate gurus. The advantage to student renters is their network to passing down properties. This chain of connections allows your renters to advertise your property for you, without having to go through any outside resource, costing you more money. However, when it comes to managing these properties, a third-party management group would be the most efficient route to take as juggling multiple lots can become overwhelming.
The advantages to military bases, like Fort Jackson in South Carolina, are the constant inflow of military families moving from base to base, making rentals great income properties. Just like the connections in a college town, military families have close knit connections across different regions. This network allows property owners to obtain referrals from trustworthy renters and knowing that their homes are in respectable hands. Not to mention, it’s nice to think you’re providing a home for heroes that are protecting your homeland.
Surrounding the Capital
Investing outside of a capital city opens many doors to property owners. The attraction that the city of Columbia holds brings a higher advantage amongst other locations. With a better likelihood of always having a tenant to rent too, property owners won’t have to worry about constantly seeking out potential renters. Being close to growing city also brings potential to different walks of life. For example, flipping a classic victorian property into modern day rustic home brings the southern feel renters may look for, with a clean taste they are comfortable with.