All Forum Posts by: Gillian Mealer

Are you looking for single parcels or a developer situation? If you are looking to develop and willing to pay a longer game look at Hardeville and Ridgeland.

@ Michael Otoole I work with investors here on HHI and in Bluffton, in the $250k range in our area the difference between STR vs LTR is a bit of a wash unless you find an amazing deal. The weekly turnover costs of a beach rental, property management and regime fees all need to be properly understood wherever you go. I would also suggest that you should be willing to push your STR on social media, craigslist, Pinterest etc... yourself don't rely on a property management company to care about your rental capacity as much as you do!

@John Smeltzer, generally speaking it is easier to do LTR than STR on the Island. I'll message you.

@John Smeltzer 

Sea Pines is beautiful, but can be expensive! The insurance can be the big killer in there, depends on the elevation. 

So you want to buy and rent out now, and have the option to be here part time in 8 years? Why not look at the long term rental market? Less wear and tear, less management fees, greater consistency for you. So long as you buy in one of the communities that allow long and sort term rentals you can keep your options open. 

When I work with clients that want to retire here in the future we often look at places that are in reasonable shape with an eye to making improvements/updates when they move here. Tenants can be rough on  a property and repairs/updates are often necessary before it becomes a primary residence anyway so it's a good thing to keep in mind when looking. 

STR really is not a passive business today if you want to keep a unit occupied. Advertising is key! It doesn't have to be expensive advertising either, social media is an excellent tool.

John, where have you looked? Sometimes the smaller units where regime fees include cable, water etc... are a good money maker. Hilton Head Beach and Tennis does very well. Depending on  your budget you may find single family as opposed to condos do better. Regime fees, weekly turnover costs, contingency funds etc... can really eat into profit. Finding a reasonable and reliable property manager and a solid weekly cleaner is key. After those fall in line be very proactive, advertise like crazy - airbnb, vrbo, your local FB pages etc... it's harder to keep units occupied otherwise.

I too am an agent here on the Island -there are many of us! Start by figuring out ahead of time what are your roi expections, how involved you want to be in the business and all the rest of that fun stuff, it will really help you make an informed decision on areas. What is your endgame - is this a starting point for buying multiple units or are you simply looking to buy and have renters cover your costs so that your vacations are free? If you are looking to buy and hold depending on your budget are you open to single family too? Make sure you understand all of the regime fees, weekly turn over costs etc... There are condos here that look like money machines, until you take into account all of the weekly costs and the contingency fund for tenant property damage. I am by no means trying to deter you, just suggesting you do a lot of homework. I just closed on a deal where the client thought they wanted STR on the Island and after doing a lot of homework we found a small single family in Bluffton that they lined a renter up for before closing. They will net more and have less stress which was what was right for them. As I said there are many agents here, we all recommend ourselves lol! Find the person that understands your end goals and is capable of helping you achieve them. If you wish to chat more feel free to message me, best of luck!

If you bump your budget to $250-$300K there are some options in Hilton Head and Bluffton for short term rentals. Long term rentals are in high demand too and tend to have less headaches. If you wish to discuss feel free to reach out to me, I am a real estate agent serving both markets. Have a great day!

I'm a real estate agent in Hilton Head/Bluffton, I work with a couple of investors. In terms of return on investment in this area you can make steady money in Bluffton on long term rentals. I had a client close on a small house this week for just over $2K, they had renters lined up before closing. There is a large enough community here to keep rentals occupied. Consider school zones, proximity to amenities etc... Remember to check HOA fees, rental guidelines etc...

On the Island you really need to do your homework, as previously mentioned - HOA fees, 6% taxes, named storm and flood insurance etc... Long and short term rentals are both possible on HHI. It really depends on the area.

For short term, there are some great property management companies that do a very thorough job, but your house is at the mercy of the weekly guests at all times. Some people are highly demanding and rough on property, replacing washers and dryers multiple times in the season is fairly common. If you go the beach route my suggestion would be buy something that works for now at a good price at the end of the season. Make a fair profit, give impeccable customer service and once you have made a decent return on investment either sell with a strong rental history and projections or invest in vastly improving the property. Then market the heck out of it using your  5 star ratings. It's not unheard of to have rentals booked 2 years in advance following this type of model. At this point you are back to the same decision - keep or sell. 

If I can help you in any way please don't hesitate to reach out. Have a great day!

@Leslie Whitlock I am in Hilton Head, but I know a couple of people investing in North Charleston and I'm building my own connections in the area. It's doing fabulously and like you I'd like to have a hand it that!

Check out the local groups on Meet Up, there is a group that meets at a diner for a weekly breakfast. You can bring deals, find investors etc... I'm pretty sire that one is called Breakfast Deals with Santa (the guy has a white beard) I should add that I haven't attended. There is another one that meets monthly for new investors I think the next one is Feb 7th, that's held at a restaurant, your area is full of groups!