All Forum Posts by: Alexander Knowles

Hey @Eric Parrow - you would be accurate in saying that those numbers are below market, although for a 3/2 market rent sits around that $1400-$1600 mark, $1800-$2000 for an SFU with a big back yard. There is a significant shortage of rental units in the area. A lot of investors prefer to do short term rentals or flip in the area. Job stability is also tricky, with a lot of tourism/hospitality major employers, especially in the summer months. Healthcare and medical facilities are catching up with the average age of people moving here rising considerably.

I would love to learn about the properties you are seeing that make these long term rental numbers work as we are currently looking for a long term buy and holds but are getting squeezed on numbers in this market! 

@Blake Brown - you have a selection from condotels to duplexes to single-family homes - I'd encourage you to narrow in on what type of STR you're looking to manage. Condotels usually come with a property management company already in place and will charge ~40% of gross rent to manage it, plus there is a saturation of these all up and down the beach. Single-family homes are great but you need to watch up for stringent HOA rules that do not allow STRs!

@Nathan Felch and @Joshua McMillion great insights! How long do soldiers typically stay out there? Is there much turnover? Do most soldiers prefer to live in single-family homes? Is there much appreciation or is it primarily great cash flow? 

Hi all - 

Seeking some investor-friendly connections in Florence, SC. Looking to learn more about the area and connect all things RE in the area!

Putting a shameless plug in for the Myrtle Beach area.  You can purchase anything from a condotel to large single-family to duplexes right on the beach. Property management fees will kill your cash flow, so if you are you serious about maximizing your CF then you definitely need your systems in place to be able to self-manage! 

@Kelli Huang - were you able to relocate to Sumter yet? Any updates on any investments in the area?

Hey @amanda - I am in Myrtle Beach area. Let me know if I can be a resource to you!

Hey Kendra - I believe there are some REI groups here. There was another person called @Brook G. looking for groups in Greenville too. It won't let me tag anyone, so sorry. But set up keyword alerts for your area and you will see some activity!

Hi all - firing up this thread again and looking for some answers. We are based in Myrtle Beach and were looking into Sumter. Primarily looking for buy and holds. Can people above comment on how their investment is going in Sumter? What are some key employment and economic drivers in the area? Looking forward to connecting. 

Hey @Carolann Hosey - yes, a majority of the "condotels' are already managed by property management companies. You are better off setting up your own systems and managing them yourself to make any profit. Plus, a majority of the condos for sale you will be paying the retail price for. From my experience, a lot of people are using these as a means to "break-even" on their condo and have a place to stay whenever they want.