All Forum Posts by: Myrtle Mike Thompson

@Pete Schmidt please consider sharing the details of the property you're selling.  I have buyers who would be interested.  Thanks!

@Paulette Midgette I just replied on the other thread you created.  Hope that helps.  Congrats on your purchase!

@Paulette Midgette that form is super confusing. You basically need to assign a value to all of the personal property (furniture, appliances, TVs, kitchen supplies, etc) inside the STR and they'll send you a tax bill based on the total. Start with the most expensive items and think about how much you might sell them for on FB Marketplace. Add it all up. Average tax bill for a 1-bed condo is probably around $50-$100/year. Higher for bigger properties. For specific questions contact the Horry County Tax Assessor's office, 843-915-5040. They almost never answer but if you leave a message with your contact info and property ID number (located on the form) they will call you back. Don't be surprised if it takes a week, but they've always called me back :)

@Ross Hilton Try Kim LeClercq... [email protected]

@Heather Devries Have you connected with an investor-friendly agent yet?  I cover both Myrtle Beach and North Myrtle and would be happy to help you identify some cash flowing options within your budget.  There are still deals out there.  Often I find folks are running their numbers based on bad data.  For example, a lot of clients who have come to me recently were underwriting their deals with 8-9% interest rates, whereas I have a lending partner who can finance most investment properties at 6.25-6.50%.  That can make all the difference in negative cash flow versus a 5-10% return.  I can also help you build your team by introducing you to cleaners, handymen, property managers, etc.  I think the best way to overcome analysis paralysis is to align yourself with an agent you like and trust and who is well-connected so you feel confident you'll have the support you need to close the deal and get off to a good start.  Feel free to reach out if I can help!

@Heather Crosby Hey friend!!  Welcome to the BP community!

@Vittorio Valarezo I'm sending you a message!

@Devin De Lange Welcome to BiggerPockets!  I'm sure you'll find this to be a wonderful, helpful community of like-minded professionals.  I too live and invest in the Myrtle Beach area.  Would be happy to connect sometime and talk shop!

@Michael Keffer I serve North Myrtle Beach and the surrounding areas.  Pricing is still relatively low for a beach market, and I have several clients who have decided to buy now and rent out their properties with the aim of eventually occupying them when they retire.  Feel free to message me with any questions, or if you'd like to shoot me your email address I can forward you some resources.

I saw a number of 1031 exchanges in the Myrtle Beach market last year. The majority involved a property out of state being sold and a Myrtle Beach property being purchased. Mostly STR properties near the beach. Some small multi-family for LTR.