Myrtle Beach STR Investment Property

[Dustin Hynes]

Hey guys,

I have recently liquidated my local rental properties and am considering investing in a STR in Myrtle Beach. Specifically around the Surfside or North Myrtle area's. I have numerous questions that I would love to get some feedback on from current owners.

How much of a hassle is it to run/own property while living out of state? My plan would be to hire a management company to handle the entire process to keep everything running smoothly. 

From the numbers I see, for a property to cash flow and pay for itself at a minimum you need to be a block off the beach with your best cash flow opportunity being oceanfront. Obviously, that comes with a cost. I have family that lives in the Gues Cottages near Ocean Annies, as the cost of ownership is low they don't seem to have the ability to cash flow. Any opinions on this? 

Did you purchase this property with a conventional loan or cash?

Do you have any numbers and information on the property you purchased? Where is it located, purchase price, rental income, management fee, etc.?

Any and all information that you think would be helpful would be greatly appreciated!