Vacation Rentals!? Property Management Guidance

[Matthew M.]

I am personally just starting off on my real estate journey. Newbie if you will. Ive been doing loads of research and I just find the real estate investing world to be fascinating. Im looking to make my first investment soon and am currently trying to evaluate different markets.

My original plan is a BRRR strategy or a flip, but something else iv'e come across may prove to very interesting.

My question is does anybody reading have any experience with vacation rentals in Myrtle Beach, SC?

From what I hear there is an extremely high probability of positive cashflow with a low entry point. Im looking into beachfront/close to beach condos/townhouses/3 bed+. Property management company handling the workload of tenants and upkeep. 30% property management fee.

Does anybody have experience in this area the can lend some insight into past pitfalls, pros/cons and maybe what to expect with a weekly rental managed by a property management company taking 30%. 

Also if you are familiar with the Myrtle Beach market, or just vacation rentals similar to this situation, any insight would be greatly appreciated!

Thanks bigger pockets! 

[Erik Anderson]

@Matt Man

to me:

A= newer house, good neighborhood

B= older but renovated house, good neighborhood.

C= older house not renovated but good condition and neighborhood.

D= older house not renovated, not good condition, and not a great neighborhood.

You could look into getting your property management/ MPIC license, its relatively cheap compared to the realtor license and has a good amount of information that is useful.