All Forum Posts by: Brad Currao

Investment Info:

Condo buy & hold investment in Myrtle Beach.

Purchase price: $223,000
Cash invested: $33,450

Contributors:
Myrtle Mike Thompson

Oceanfront STR @ Paradise Resort

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

Being my first deal, I was looking for something move in ready that I could hit the ground running with. Being a condo with an economical HOA with pretty much everything included, it gave me comfort that my primary focus would be the interior of the unit. While the main objective is utilizing this as an investment property, I was also interested in a place that allows for usage as a vacation home in the offseason to escape the winter in New Jersey.

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

As an OOS investor, my agent was super helpful throughout the process. He provided plenty of different listings, insight on locations, referred me to the proper teams members, provided guidance through the negotiation and closing process and made multiple visits to the property. He really gave me the confidence I needed to pull the trigger on this deal.

@Jonathan Edmund thanks Jonathan! I'll definitely reach out for an extra set of eyes on potential deals. 

I'm looking into a potential deal for a LTR for a property in Myrtle Beach and based on my initial analysis, it seems like a decent opportunity to dive a bit deeper on. However, I see Myrtle Beach seems to have a bit higher of a vacancy rate, which is my big concern. This would be my first property so looking for some insight from anyone with experience in the area. 

I'm currently starting my real estate investing journey, looking for my first rental in Myrtle Beach, SC. I started working with a local agent that is helping me begin the process as I am located in New Jersey. The initial goal is to narrow our focus on the type of property and style of rental I want (Long term vs. short term). My budget is on the lower side but would love to hear from anyone who has experience in the area and what their thoughts are!