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Best investment property in Myrtle Beach

Have you been toying with the idea of purchasing a rental property in Myrtle Beach, SC, but you are not sure if it is a good investment? Or maybe you currently own a rental property in the area and are looking for different ways to increase your income on a monthly basis. We see these scenarios quite frequently.

A question we get asked all the time here at Jerry Pinkas Real Estate Experts is, “Can you really make money with a second property or a condo on the beach?” And our answer is, simply put, absolutely YES! In today’s blog post we are going to be talking about different strategies and ways you can make money on these properties, or increase your revenue if you are currently renting the unit place out. We hope these tips and tricks help point you in the right direction with your rental property and allow you to start increasing your cash flow!  

How to increase your rental income

What are the perks of having a rental property?

As you can imagine, owning a rental property in Myrtle Beach, SC has many perks and advantages. The first one we want to talk about is what motivates most people and pushes them to make the investment. That’s right, we are talking about money. It is no secret that Myrtle Beach, SC is a great and very popular destination for many vacationers throughout the year. The stunning and glistening beaches of the Grand Strand attracts people from across the nation. Because of this, and if you are smart with marketing your unit, you should have no problem securing renters day after day, week after week and month after month. This leads to great rental income that goes right into your pocket.

And if you live out of state and are purchasing a rental property in Myrtle Beach, SC, it is like having other people pay for you to have a second home on the beach. The best part about having a rental property is that you get to set when you want the unit to be rented. And if you wake up one day and decide you want to take the family on a vacation to the beach, and you have had enough rental income to cover the costs of the place for that month, it is like your personal piece of paradise for free. Does it really get better than that? We think not. 

How can I maximize my rental income each month?

It is important to understand that there are multiple ways to make money with these rental units, and a lot of people are using these properties to create multiple streams of income for themselves and their families Now you may be asking yourself if it is possible to run a rental unit and still keep your nine to five. And we are happy to say that, yes, you can absolutely do both! So don’t go quitting your day job because it is very feasible for you to keep working and be generating additional money through your rental property in sunny Myrtle Beach, SC. 

We want you to expand your mind and think about this with us for a second, as there are multiple ways to acquire bookings and make the rental world work for you. And one of those ways is to put your unit on a rental program or website where the company rents it out by the night, by the week or by the month for you. And while this is great because it takes a lot of the work off your hands, you are also going to find yourself sharing a large part of your profits with that company. But lucky for you, we have others options!

There is another formula that can give you a greater return on your investment, and that is the Airbnb or VRBO (Vacation Rental By Owner) formula. With these options, while you are involved in the process a bit more as you are responsible for listing your property on these sites, it can be worth it for you monetarily in the end as you collect one hundred percent of the rental income that is generated. This will help with your bottom line and help put money directly into your pocket.

Myrtle Beach investment opportunities

Why are these sites a good idea for me to utilize?

Something to really think about when it comes to rental properties and sites such as Airbnb and VRBO is our location. As we touched on earlier, we are in an area where people vacation and are looking to rent all the time. We have cleaning people, we have plumbers and services like these readily available. When you are renting by the night, week or month, you are getting direct income that allows you to hire on people to do the dirty work for you in terms of cleaning and repairing the unit. We have many clients who are doing this as a second income and they are banking money month after month. They are coordinating all this on their phone via text, email, sending reservations back and forth, answering questions, etc. We even have clients that are doing this at work at their day job, and some that do it at nights or on the weekends. But just by coordinating everything yourself, you get one hundred percent of the money, which is a great way to generate income and greater returns on your investment.

Buying a condo in Myrtle Beach is it a good investment 2017?

How can I set my unit apart from other rentals in the area?

You may be asking yourself how you can acquire renters when there are other competing units, possibly in your same building, that are also listed on these sites. An aspect you may want to consider is something as simple as TV’s. What if all the units in your building had a 32-inch TV, but your unit had a 60-inch, flat screen TV. Would it cost you THAT much more money? Probably not. But would it set you apart and make your listing stand out from the other units? Definitely. With not that much of an investment, you can make a greater return. If someone is already set on staying in your area or condo building, they may be more inclined to pick the listing with the bigger TV or the better amenities. What we are trying to say here is that all the little things add up, so if you are able to make small improvements to your unit it could end up meaning more bookings, and therefore more profit. And again, all that money goes to your bottom line.

Buying a vacation home in Myrtle Beach SC

What should I do if I am interested in purchasing a rental property in the Myrtle Beach, SC area?

Hopefully, by now we were able to convey all the different ways in which your rental property can be successful and bring in money month over month. If you or someone you know is interested in purchasing a rental property in the Myrtle Beach, SC area, give our experienced team here at Jerry Pinkas Real Estate Experts a call today! And while you can search the internet endlessly for tips and tricks on how to not only find the perfect rental unit but also on how to bring in more money on your rental property, nothing beats sitting down with a professional. You need to be here so we can show you exactly how to maximize your rental income.

We are here to help. This is what we do, we do it every day and we are good at it. We have helped numerous individuals, couples, families and even retirees lock down their perfect rental property, and we know we can do the same for you. Why have ordinary when you can have the best? Give us a call today, we look forward to working with you soon!

 

You have questions, we have answers. Give us a call at 843-839-9870.  

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SEARCH MYRTLE BEACH RENTAL PROPERTIES HERE

 

Best Realtor in Myrtle Beach


Why pick average, when you can have an expert?

Give us a call 843-839-9870

Oceanfront and Ocean View – What’s the Difference?

by Jerry Pinkas

 

What's the difference between oceanfront and beachfront

It is no question that Myrtle Beach, SC is known for its beautiful, warm beaches and glistening waters, and we certainly understand why the Grand Strand is known as having some of the most stunning beaches in the country. And because of that, many individuals, couples, families, and retirees are flocking to the area to take advantage of the beautiful weather and everything the area has to offer. Due to the influx of people coming to Myrtle Beach, SC for the beaches, we tend to get quite a few questions and inquiries surrounding available oceanfront and ocean view properties.

With that, a question we get asked all the time here at Jerry Pinkas Real Estate Experts is what the difference is between oceanfront and ocean view. And we hear a lot of people say, “I just want an ocean view condo,” but what they really mean is a direct, oceanfront property. Much to some people’s surprise, there, in fact, is a difference between an oceanfront property and an ocean view property. Have you found yourself searching the web and not fully understanding the difference when you see the two descriptions? If your answer is yes, then this blog is for you. We hope the information below clears up any confusion you may have or equips you with the knowledge you did not know you were missing when it comes to these properties in the Myrtle Beach, SC area.   

What does ocean view mean

What are the perks and downsides of an oceanfront property?

Would you agree with us if we said that a sandy beach and warm ocean waters made the perfect combination for a backyard? How would you feel waking up every day to the sound of crashing waves and the calming smell of the fresh ocean mist? Well, that is pretty much what you can expect when you purchase an oceanfront property. ‘Oceanfront’ means that your unit is directly on the ocean with the beach right in front of you, and yes, we agree that it is as close as it gets to heaven on earth. 

Not that we have to point it out to you, but one of the main perks to an oceanfront property is that there is nothing standing between you and the warm sand between your toes, the glistening Myrtle Beach, SC sunshine and the dazzling, welcoming waters of the ocean. You have the beach and ocean available to you without having to drive, park and walk to put your beach towels down. You can walk right outside and you are there. Pretty sweet, huh? We tend to agree wholeheartedly. Lastly, if you are looking to rent out the unit, vacation-goers tend to favor oceanfront rental options, ensuring you will most likely see good rental income and a steady flow of renters throughout the year.

And while you may be thinking what could possibly be the downside of such an incredible setup, with the good comes the, well, not so good. The main downside of most oceanfront properties, as you may have guessed it by now, is the price. Due to the limited amount of oceanfront units in a condo building, those properties tend to be in high demand, and thus have a higher price tag than others that are not on the water. And not just condos, there are many incredible attached and detached oceanfront homes that will also carry a heftier price tag than those in a traditional cul-de-sac without the oceanfront view. But it is true when people say ‘you get what you pay for,’ and in this situation, most times you will have to pay a higher price for all the perks, beauty and convenience of an oceanfront property. It is just up to you to decide if that price is justifiable given your budget, your wants, and your needs.

Partial ocean view vs ocean view

What are the perks and downsides of an ocean view property?

On the other hand, ‘ocean view’ means that you are going to get a view of the ocean, and maybe a little view of the beach, but there may be things standing between you and the ocean. Image walking out on your balcony and instead of the ocean and beach being right in your backyard, you are able to see it in the distance. How much of a distance you ask? It depends on the unit. There are units that are extremely close to the beach and ocean but have a pool or smaller building in-between. Then there are units that are several blocks away and are a decent walk, or even a drive, to get to enjoy the beach and ocean.

But even though you are not right on the beach, the main perk to an ocean front unit is that you are still able to see and take in the beauty and tranquility of the water, but you are not paying the high price tag for an actual oceanfront unit. If a non-negotiable for you is being able to see the ocean, but you are not wanting or able to pay the higher price of an oceanfront option, and you are okay with a short commute (by foot or car) then an ocean front unit can be a great option for you. And similar to an oceanfront property, if you are looking to rent the unit out, a major perk is being able to list ‘ocean view on your rental listing. Many people who visit the Myrtle Beach, SC are wanting to see and/or spend time at the beach. So being in close proximity to the water is always a huge plus and can help ensure you have rental income coming in throughout the year. 

What is right for you Oceanfront or Ocean View

Since the views and distance to the water can vary in these units, be sure to contact our team here at Jerry Pinkas Realty so we can show you different options. We can work with you and your budget to get you the best view possible, as well as to check off all your wants and needs in a unit. There are so many incredible ocean front properties that have breathtaking views, and we look forward to showing you these options and finding your dream unit. 

Difference between oceanside and ocean view

What should I do if I am interested in purchasing an oceanfront or an ocean view property?

Now that we have discussed the differences between an oceanfront and an ocean view property, we hope that you have a better feel for what you are looking for. While there are perks and negatives to both options, I think we can all agree that nothing beats being in close proximity to, and waking up to see, some of the country’s most beautiful beaches. Are you still confused about which option best fits your needs and wants? Give our experienced team here at Jerry Pinkas Real Estate Experts a call today! Allow our incredible and knowledgeable agents to take you around to a few properties so you can see the differences in person, decide which option checks everything off your list and get all your questions answered. We know the internet can be a great tool, but nothing beats an in-person tour of some potential units. Our team has helped numerous individuals, couples, families, and retirees find their dream oceanfront and ocean view property, and we know we can do the same for you. This is what we do, we do it every day and we are good at it. Why have average when you can have the best? Give us a call today, we look forward to working with you!

 

You have questions, we have answers. Give us a call at 843-839-9870.  

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To get a FREE Home Analysis for your Myrtle Beach home, click here.

 

Best Realtor in Myrtle Beach


Why pick average, when you can have an expert?

Give us a call 843-839-9870

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