Updated 4 months ago on . Most recent reply
First Property Closed!
Investment Info:
Condo buy & hold investment in Myrtle Beach.
Purchase price: $223,000
Cash invested: $33,450
Contributors:
Myrtle Mike Thompson
Oceanfront STR @ Paradise Resort
What made you interested in investing in this type of deal?
Being my first deal, I was looking for something move in ready that I could hit the ground running with. Being a condo with an economical HOA with pretty much everything included, it gave me comfort that my primary focus would be the interior of the unit. While the main objective is utilizing this as an investment property, I was also interested in a place that allows for usage as a vacation home in the offseason to escape the winter in New Jersey.
How did you find this deal and how did you negotiate it?
As an OOS investor, my agent was super helpful throughout the process. He provided plenty of different listings, insight on locations, referred me to the proper teams members, provided guidance through the negotiation and closing process and made multiple visits to the property. He really gave me the confidence I needed to pull the trigger on this deal.