Due to some family circumstances, I may be spending quite a bit of unexpected time in the Myrtle Beach area.
If you currently invest there or have owned properties near the area, I am interested in how the market is there! I currently wholesale & buy/hold rentals in Ohio.
Any info will help, I am more so curious than anything else.
Thanks in advance,
I actually just bought a fixer condo and have a single family fixer in contract. Looking to move there in September. Seems like the profit margins on fix and flips are slim, but long term and short term rentals look to be providing steady good cashflow. I believe it's because of the low taxes.
low taxes are definitely a plus, and I've jumped into studying the condo market pretty heavily here since becoming a realtor and plan on buying several myself once I get some more cash on hand for down payments. If you're looking to do a buy/hold while getting decent cash flow, beach front condo's are the way to go. You have to be careful and really go off prior GRI incomes vs expenses though. I've seen some produce as much as 10-15k net cash flow a yr while others are only making a few hundred. I'm currently working on a spreadsheet of all the different active units and what all the expenses vs income would be. If you want, connect with me on here and I can let you know when I'm done with it.