STR Condo in Myrtle Beach
Hi all,
I've been looking to buy a condo in Myrtle Beach but not sure if it's a good idea seeing how much a 2 bed/2 bath condo goes for. If you have a condo there, what are most people averaging a year gross? A few places I looked at already showed that they were grossing in the low 50's and don't think that will be a great investment of time and money...
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John Underwood
#3 All Forums Contributor
Pro Member
#3 All Forums Contributor
- Investor
- Greer, SC
I agree that condos are a risky investment.
These seem to be saturated in the Myrtle beach area which drives prices down.
50k Gross minus all the expense includes HOA fees does not sound like a great investment.
You need to be estimating Net income. Gross numbers don't reveal much of a picture.