Investor · Huntington, WV · Member since 2018 · 26 posts · 5 votes
Hello all, I'm scheduled to head to the MB area within the next couple weeks and already have a ton of places lined up to check out with my realtor. Just looking to get everyone's take on criteria, condotels vs houses, and HOAs to help guide my search further. Would really appreciate any advice from anyone local or already investing in the area.
I visit there frequently and have rented a beach front house in September for a week.
As a customer I want to see and hear the ocean. I want to be able to sit on the deck in the morning and evening and be looking at the beach and the ocean.
I would look for a house that is not in an HOA.
If you can be 2nd row and have an unobstructed view of the ocean that would be great. Make sure no one can ever build in front of you.
You could also do well with a house a few blocks back that has a pool and possibly a golf cart to get to the beach.
I personally will only rent beach front and I have a pool at home so I don't care about a pool.
@John Underwood totally agree with making sure the ocean is in eyesight, whenever I visit the location that's always my top priority. After diving into the HOA fees I've noticed some include water, sewer, electric, WIFI, and even insurance factoring all of these utilities it seems to make some financial sense. Still struggling with the idea of how my 1 bd Air BNB will standout from the hundreds of others.
@John Underwood totally agree with making sure the ocean is in eyesight, whenever I visit the location that's always my top priority. After diving into the HOA fees I've noticed some include water, sewer, electric, WIFI, and even insurance factoring all of these utilities it seems to make some financial sense. Still struggling with the idea of how my 1 bd Air BNB will standout from the hundreds of others.
If the HOA provides these things then you will have a high monthly HOA bill. HOA's have many rules and you might not be able to prevent a guest from violating rules and getting you in trouble. I would try and keep things simple and avoid any HOA properties if possible.
@Daniel Walton as mentioned above - those HOAs can make or break your cash flow. To stand out and compete - it is best to find a 1bed condo with established historical short term rent coming in or at least find a good property manager that manages a bunch within the same resort/building so they know how to market or have an established clientele. Having an updated/renovated unit can help as well. Otherwise, you may want to direct your search toward single-family homes with no HOAs and are your turnkey short term rentals. You'll be able to find these in Cherry Grove (North Myrtle Beach) and Surfside City. Make sure your realtor asks for historical rents as well!