Buy and Hold STR in Murrells Inlet South Carolina

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Buy and Hold STR in Murrells Inlet South Carolina

Michael Gabriel
Realtor · Willow Grove, PA · Member since 2017 · 13 posts · 12 votes

Investment Info:

Condo buy & hold investment.

Purchase price: $309,000
Cash invested: $82,000

Contributors:
Alex Bekeza

Short term rental

What made you interested in investing in this type of deal?

We wanted to get an STR that we could stay at a few times per year

How did you find this deal and how did you negotiate it?

I had an agent down in the Myrtle Beach area help me find it

How did you finance this deal?

non conforming STR loan

How did you add value to the deal?

no value add

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I worked with Alex Bekeza on the financing. This is the 5th transaction we did together. I highly recommend him for all your investor loan needs

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Alex BekezaBusiness Member
Lender · Los Angeles, CA · Member since 2018 · 2k+ posts · 1k+ votes
4y

@Michael Gabriel Congrats on adding another great STR in a new market to your portfolio and I really appreciate the shout out!

@Anthony Williams This was a DSCR based/STR friendly 30 year fixed loan with 25% down. We used Air DNA Data to calculate the DSCR.

[email protected]818-606-8823
Investor Property Loan5307 Reviews
WebsiteView Page
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  • Anthony Williams
    Investor · AZ, USA · Member since 2021 · 11 posts · 2 votes
    4y

    @Michael Gabriel Nice find on the outskirts of Myrtle Beach! Was Alex able to help you secure this as seller-financed, hard money, or what kind of non-conforming loan?

    I am assuming you did not use a 10% down loan for this STR directly with the lender, that was then sold to Fannie, so they can sell it to Wall Street to package into an MBS.

    0Reply
  • Katie Hole
    Realtor · Myrtle Beach, SC · Member since 2017 · 39 posts · 11 votes
    4y

    @Michael Gabriel Congrats! Myrtle Beach is awesome for STR. Hope your family enjoys your time visiting! I am an agent here so let me know if I can help with anything.

    0Reply
  • Alex BekezaBusiness Member
    Lender · Los Angeles, CA · Member since 2018 · 2k+ posts · 1k+ votes
    4y

    @Michael Gabriel Congrats on adding another great STR in a new market to your portfolio and I really appreciate the shout out!

    @Anthony Williams This was a DSCR based/STR friendly 30 year fixed loan with 25% down. We used Air DNA Data to calculate the DSCR.

    [email protected]818-606-8823
    Investor Property Loan5307 Reviews
    WebsiteView Page
    1Reply
  • Myrtle Mike ThompsonBusiness Member
    Realtor · Myrtle Beach, SC · Member since 2016 · 352 posts · 204 votes
    4y

    @Michael Gabriel Congrats on your purchase!  Wishing you mad $ucce$$ with the property.

    @Alex Bekeza Was this a low-rise unit or a condotel? I have a couple lending partners that I refer my clients to for DSCR loans on condotel units, but I'd love to have another one in my stable if that's something you can do!

    [email protected]843-999-2301
    Myrtle Mike Real Estate581 Reviews
    WebsiteView Page
    0Reply
  • Alex BekezaBusiness Member
    Lender · Los Angeles, CA · Member since 2018 · 2k+ posts · 1k+ votes
    4y

    @Myrtle Mike Thompson That's awesome, well feel free to reach out anytime!  This particular condo was like a garden style (3 stories) on the water. 

    [email protected]818-606-8823
    Investor Property Loan5307 Reviews
    WebsiteView Page
    0Reply
  • Dmitriy Fomichenko
    Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    4y

    Congratulations @Michael Gabriel !

    0Reply
  • Amber DiBenedetto
    Member since 2023 · 2 posts · 0 votes
    3y
    Congratulations! I've been researching Murrells inlet for a STR. I am torn between oceanfront condo and non oceanfront single family house. I would love to know how its going for you and get your thoughts! This will be my first STR (hopefully first of many!). Please feel free to message me if you care to share any more info.

    Thank you! 
    0Reply
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