Myrtle Beach Vacation Rentals
Hey guys, I am getting ready to sell my fourplex and looking to get a vacation rental. We live in Columbia so our initial thought would be Myrtle Beach. I just wanted to see if anyone currently has a vacation rental at Myrtle Beach or somewhere close by that could give a little insight as to your experience. I know about the investor rate on taxes and the HOA fees with most rentals at Myrtle. I just wanted to get someone's feedback on how successful you have been with the short term rental market at the beach and any other nuggets of wisdom you can provide. I appreciate any input.
Most Popular Reply
@Philip Mullinax
The Myrtle Beach vacation market is more like 5 or 6 total towns from Little River all the way down to Garden City Beach. It’s a well established market where they depend on the hospitality industry so I don’t see much regulations risk.
I personally would look in the Surfside Beach and Garden City Beach area. Prices are going up but I would stick to the ocean side for best rental potential. Condos (in low rises) go from 200-400k whereas beach front houses are 800k-2M.
If you pick a nice property or renovate it to be one of the nicer ones you can count on 15-30% CoC return if you manage yourself. It's also a driving market as well as almost a full year market