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Amar Amar
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Myrtle Beach - Beach front condos

Amar Amar
Posted Oct 5 2022, 08:24

Hello everyone!

Any thoughts on buying beachfront condo in Myrtle Beach for rental ? Of course, I will go through rental calculator but wanted to know your opinions or experience. Is it worth if I am buying just one studio? I see lot of them ~100k.

Ocean city is close to where I live but pricey. 

Thanks !

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Brett Voorhees
  • Real Estate Agent
  • South Florida
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Brett Voorhees
  • Real Estate Agent
  • South Florida
Replied Oct 5 2022, 09:17

Hey @Amar Amar, I know an awesome agent in that area if you are interested in having some property evaluated. Let me know and I can shoot you over their contact!

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Nancy DeSocio
  • Rental Property Investor
  • Cranston, RI
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Nancy DeSocio
  • Rental Property Investor
  • Cranston, RI
Replied Oct 5 2022, 09:28

It really depends on your goals and what you want to get from the investment. I love MB, and we bought a beachfront condo there last year. If you want a second home that mostly pays for itself, it does serve that purpose.  If you are looking for cash flow, or cash on cash returns, you can run the numbers to see how it looks (those metrics don't meet my goals but not to say it won't work for you).

There are a few lenders that will lend on those condotels but even fewer that lend on studios. It can be done, and there many locals to the area that will chime in on this thread, as the building and HOA will factor into your decision.

Good luck on your journey!

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Myrtle Mike Thompson
  • Realtor
  • Myrtle Beach, SC
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Myrtle Mike Thompson
  • Realtor
  • Myrtle Beach, SC
Replied Oct 5 2022, 10:37

@Amar Amar Anything in the $100k range is going to be more trouble than what it's worth.  Bad part of town, run down building, drugs and prostitution, squatters.  I'd be happy to give you the lay of the land and some guidance, but you're looking at $150-$200k for a decent property in Myrtle Beach that will cash flow well and not give you a bunch of headaches.

  • Real Estate Agent SC (#124910)

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Amar Amar
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Amar Amar
Replied Oct 5 2022, 11:44

@Nancy DeSocio @Myrtle Mike Thompson @Brett Voorhees

Thank you so much for your inputs. Really appreciate it. 

@Mike - The ones I was referring are Sea Mist resort, Landmark resort, Coral beach resort etc. Do you see same issues as you mentioned in such resorts as well ? I have a FT day job, definitely do not need too much headache for low returns.

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Amar Amar
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Amar Amar
Replied Oct 5 2022, 11:44
Quote from @Brett Voorhees:

Hey @Amar Amar, I know an awesome agent in that area if you are interested in having some property evaluated. Let me know and I can shoot you over their contact!

Thank you. Will do.

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Amar Amar
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Amar Amar
Replied Oct 5 2022, 11:46
Quote from @Nancy DeSocio:

It really depends on your goals and what you want to get from the investment. I love MB, and we bought a beachfront condo there last year. If you want a second home that mostly pays for itself, it does serve that purpose.  If you are looking for cash flow, or cash on cash returns, you can run the numbers to see how it looks (those metrics don't meet my goals but not to say it won't work for you).

There are a few lenders that will lend on those condotels but even fewer that lend on studios. It can be done, and there many locals to the area that will chime in on this thread, as the building and HOA will factor into your decision.

Good luck on your journey!

Great points to consider. Thank you. 

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Amar Amar
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Amar Amar
Replied Oct 5 2022, 11:57
Quote from @Myrtle Mike Thompson:

@Amar Amar Anything in the $100k range is going to be more trouble than what it's worth.  Bad part of town, run down building, drugs and prostitution, squatters.  I'd be happy to give you the lay of the land and some guidance, but you're looking at $150-$200k for a decent property in Myrtle Beach that will cash flow well and not give you a bunch of headaches.

Mike - The ones I was referring are Sea Mist resort, Landmark resort, Coral beach resort etc. Do you see same issues as you mentioned in such resorts as well ? I have a FT day job, definitely do not need too much headache for low returns.

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Myrtle Mike Thompson
  • Realtor
  • Myrtle Beach, SC
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Myrtle Mike Thompson
  • Realtor
  • Myrtle Beach, SC
Replied Oct 6 2022, 06:13
Quote from @Amar Amar:
Quote from @Myrtle Mike Thompson:

@Amar Amar Anything in the $100k range is going to be more trouble than what it's worth.  Bad part of town, run down building, drugs and prostitution, squatters.  I'd be happy to give you the lay of the land and some guidance, but you're looking at $150-$200k for a decent property in Myrtle Beach that will cash flow well and not give you a bunch of headaches.

Mike - The ones I was referring are Sea Mist resort, Landmark resort, Coral beach resort etc. Do you see same issues as you mentioned in such resorts as well ? I have a FT day job, definitely do not need too much headache for low returns.

 @Amar Amar Sea Mist is trash.  Landmark is so-so.  Coral Beach is by far the best of the three.  I helped a client buy a unit there a couple months ago.  If you want to allow the resort to manage the rentals for you, this might be the one location in Myrtle Beach where you actually have a chance at some decent cash flow.  If you want to self-manage (Airbnb/VRBO) or hire a third-party management, Coral Beach will restrict your guests from using most of the onsite amenities (ie. your guests will have a bad experience and give you negative reviews).  Same with Landmark.  If you want to self-manage, send me a DM and I'll point you to a few different buildings to consider.

  • Real Estate Agent SC (#124910)

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Amar Amar
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Amar Amar
Replied Oct 7 2022, 20:12
Quote from @Myrtle Mike Thompson:
Quote from @Amar Amar:
Quote from @Myrtle Mike Thompson:

@Amar Amar Anything in the $100k range is going to be more trouble than what it's worth.  Bad part of town, run down building, drugs and prostitution, squatters.  I'd be happy to give you the lay of the land and some guidance, but you're looking at $150-$200k for a decent property in Myrtle Beach that will cash flow well and not give you a bunch of headaches.

Mike - The ones I was referring are Sea Mist resort, Landmark resort, Coral beach resort etc. Do you see same issues as you mentioned in such resorts as well ? I have a FT day job, definitely do not need too much headache for low returns.

 @Amar Amar Sea Mist is trash.  Landmark is so-so.  Coral Beach is by far the best of the three.  I helped a client buy a unit there a couple months ago.  If you want to allow the resort to manage the rentals for you, this might be the one location in Myrtle Beach where you actually have a chance at some decent cash flow.  If you want to self-manage (Airbnb/VRBO) or hire a third-party management, Coral Beach will restrict your guests from using most of the onsite amenities (ie. your guests will have a bad experience and give you negative reviews).  Same with Landmark.  If you want to self-manage, send me a DM and I'll point you to a few different buildings to consider.


 Thank you so much for providing the insight. Glad I asked. I will reach you out.

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Jonathan Edmund
Pro Member
  • North Myrtle Beach, SC
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Jonathan Edmund
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  • North Myrtle Beach, SC
Replied Dec 7 2022, 09:03
Quote from @Amar Amar:

Hello everyone!

Any thoughts on buying beachfront condo in Myrtle Beach for rental ? Of course, I will go through rental calculator but wanted to know your opinions or experience. Is it worth if I am buying just one studio? I see lot of them ~100k.

Ocean city is close to where I live but pricey. 

Thanks !


 Hey Amar,

If you know what buildings to look for, and understand all the fees, there are deals to be had on ocean front condos in the Myrtle Beach area. Reach out anytime, I'll be glad to assist you. I'm a Realtor original to this area as well as a lender and investor. Would love to help you analyze some properties.