FREQUENTLY ASKED
PRIVATE MONEY LENDING:
IRMO ANSWERS.
The questions that actually come up about private money lending in Irmo.
The Richland and Lexington Counties picture
Irmo is a town straddling two counties on the northwest edge of Columbia in Richland and Lexington Counties, anchored by Lake Murray, the Harbison retail corridor and the I-26 interchange.
Irmo's economy is retail and consumer services at regional scale. The Harbison corridor draws shoppers from several counties, and almost everything else in town orbits it. There is little undeveloped land left, so change here means aging shopping centers being torn down and rebuilt rather than new ground being opened up.
Irmo addresses can sit in either Richland or Lexington County. Confirm which one before you assume a tax rate or a filing office.
This page is part of a larger body of work — start with Ben Lovro's main site.
More for Irmo
The rest of the Irmo material
The full market read for this area is on the Irmo, SC site. The deeper treatment of private money lending is on the topic site.
Frequently asked
Questions people actually ask
Do you work in Irmo?
Yes. Irmo and the rest of Richland and Lexington Counties are inside the regular footprint, along with much of South Carolina.
Is this page an offer?
No. It is educational content about how private lending secured by real estate generally works. It is not an offer to sell or a solicitation to buy any security or investment, and it contains no terms.
What is the difference between a note and a mortgage?
The note is the promise to repay. The mortgage is the recorded instrument securing that promise against the property. You want both, properly recorded.
What is lien position?
The order in which claims get paid if the property is sold or foreclosed. Anything recorded ahead of you is paid ahead of you.
How is foreclosure handled in South Carolina?
South Carolina is a judicial foreclosure state, so enforcement runs through the courts. It costs money and takes months. Understand the process with your own attorney before it matters.
Why does the Irmo market matter here?
Irmo's economy is retail and consumer services at regional scale. The Harbison corridor draws shoppers from several counties, and almost everything else in town orbits it. A loan is only as sound as the collateral, and the collateral is a specific building in a specific submarket.
Make your next move
A year from now, what will you be glad you started today?
You don't need another promise that everything will be easy. You need something useful to learn — and a next step you're willing to take.