Myrtle Beach Area - STR

[William Vandermark]

First time post, longer time reader/follower. We're going to be looking for a property to use as a STR in the myrtle beach area later this peak rental season (intent is to start looking in July). Interested in all areas from Murrells inlet up through Cherry Grove. We'll be looking mainly for SFR or Townhouses, but may consider a condo if the numbers make sense. We plan to finance as a vacation property and utilize as such at least two weeks a year, but it will primarily be an investment property. Any local investors that have have cautionary tales or rental considerations I should be educating myself on would be appreciated. Thank you!

[Alexander Knowles]

@William Vandermark - it is definitely a great place to invest (and vacation!). Would encourage you to look at Cherry Grove/North Myrtle and then Surfside and Murrells Inlet. Condos are great if you can make it work with the HOA fees and get away from the condotel management. Other things to consider with SFR are the extra maintenance and capex, furnishings, and also the management side. You should be able to finance it as a second-home (granted you don't have any other second-home loans). It is competitive so make sure you have your numbers and you stick to them amidst a bidding war!