All Forum Posts by: Michael Weigum

Hi @Jose Ortega

I live in Surfside Beach/Myrtle beach. I have 2 ocean front STR's and am an Agent here specializing in helping investors. Let me know if you have any questions or want to connect. I'd be happy to share my experience with you.

Hi @Conner Olsen

That's one of my goals as well. I want to purchase land and put tiny homes/cabins/and rv pads on it.

My family and I traveled all over the US in our camper in 2020. Last year we rented out our camper on Airbnb and did pretty well. Going to be doing it again this year. We will have 2 oceanfront condos and a camper listed on Airbnb to rent out.

Keep chasing the dream!

Hi @Monica C.,

I live in Surfside Beach S.C. and specialize in oceanfront investment properties. I personally have 2 condos that I Airbnb. My firm also does property managment. There is a high demand out here for long term rentals right now. Lot's of new construction going on, but people need places to stay while their houses are being built. If you can get a good property right now, you definately could get it rented right away. Please let me know if I can answer any questions. I'd be happy to help you in your search. 

Hi @German Hall,

I own 2 ocean front condos in Myrtle Beach and specialize in helping people invest here. I would be happy to answer any questions you have. 

Hi @Tuli Green,

That sounds like the perfect combination for investing in Ocean front / Ocean view condos in Myrtle Beach right now. I just went under contract on a unit that fits those parameters. Let me know if you would like me to set up a search for you.

Hello @David Klaff

I lived in Denver Metro area for 24 years. If you need info on different neighborhoods, I can give you some insight. I recently relocated to the Myrtle Beach, SC area and bought my first STR Oceanfront condo. If you are interested in Oceanfront STR in South Carolina I can help with that too. It's been a good investment for me, so good that I just closed on my second unit and helped members of my family get a few units as well. Let me know if I can help!

Hey @Ryan O'Hara, that's a great question. I bought my first STR condo using a HELOC on my house. After a great rental season, I used a combination of the income generated from the first STR and some savings to use as a down payment for my second STR condo that I financed with a private lender. I also bought a new primary residence.

I'm looking to get number 3 and number 4 this year. Thankfully, the timing was good on the first one, and now I have enough equity in it to pull the money out either through a cash out refi, or a HELOC on my new primary residence.

I have learned a couple of things through bigger pockets and investing: 1. be patient and set the goal. 2. there are many different ways to make a deal happen. 

You can do it! 

The numbers in Myrtle Beach, SC still work, but the market is very competitive. You have to be able to jump in real quick with a solid offer.

Thanks for sharing! That is great info. I can say it’s pretty accurate based on my personal experience here in Myrtle Beach. Inventory right now is very low for buying a beachfront condo and prices have jumped dramatically in the last year. I purchased my first unit 10 months ago for $90k and it is worth $160k today. As for the Airbnb, our occupancy rates have been much higher than the traditional averages. Even in the slow season. The good news is there is still value in beach front investing here. Price points have not become unreachable like my beloved mountains of Colorado.

Great question  

@Eric Garcia, the HELOC did help with with condo 2. I used it for the down payment and financed the rest with a private money lender that will loan on "condotels". That's why I love real estate investing, there are many ways to help get a deal done and meet your goals. Bigger pockets has definitely helped me with that. Now I get to help other people achieve their goals.