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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.  

We add new videos each week to our YouTube Channel. discussing all types of topics surrounding the Myrtle Beach real estate market and community. Subscribe today!

SEARCH MYRTLE BEACH RENTAL PROPERTIES HERE

 

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10 Reasons to Visit Myrtle Beach

by Jerry Pinkas

Life on The Grand Strand is a unique experience and we cordially invite you to come on over for a visit.  With so much to offer both tourists and residents alike, the Myrtle Beach area is the place to be.  Today, it is our pleasure to introduce you to the top 10 reasons to visit our beautiful coast. 

1.  We begin with the number one feature of the area:  The Beaches! With almost 60 miles of beach, our coast is full of sparkling beauty and plenty of room for you to relax and enjoy nature. On average, Myrtle Beach has 218 more sunny days than other areas so you can perfect your tan while enjoying the calm of the waves. For the kids of all ages, there are nearby shops who rent water equipment including boogie boards, jet skis, and more. There is fun for everyone at the beach!

2.  While you're in town, you will definitely want to check out the shopping. If you are looking for unique gifts, there are hundreds of souvenir shops along the strip and in the area.  From salt shakers to sea shells and t-shirts, you can find it all in these kitschy stores.  The fashionista will love shopping in Myrtle Beach, too. Here, she can indulge herself at the Tanger Outlets.  This shopping center features brand names at outlet prices.  Among these brands you will find Coach, Calvin Klein, and J. Crew.  You can even add some ambience to your life at the Yankee Candle Outlet, or pick out a new perfume at the Fragrance Outlet.  You simply can't go wrong shopping in Myrtle Beach, so start saving up for the shopping trip of a lifetime.

3.  The entertainment available in Myrtle Beach is unparalleled.  For starters, there is plenty of live music in the area including the Alabama Theatre at Barefoot Landing as well as the Carolina Opry Theatre.  Are you looking for something a little more active?  Then gather up the whole family and check out the Ripley's Believe it or Not.  With everything from odd attractions to a seasonal haunted asylum, this museum of wonders is sure to thrill kids of all ages.  Don't forget, Myrtle Beach also has an amusement park, Family Kingdom, complete with a roller coaster and water park.  Whatever the time of year, The Grand Strand has a plethora of activities for you and your family to enjoy.

4.  One of Myrtle Beach's best features is its affordability.  With resorts that are open year round, finding a deal has never been easier.  Some of the local resorts run steep discounts during the off season.  But during the summers, there are several hotels off the beaten path where you can find a comfortable and affordable room.  If your family falls in love with Myrtle Beach, which has been known to happen, the good news is that buying a home here is also affordable. 



5.  Golf: Golf-lovers will be on cloud nine in Myrtle Beach.  With over a hundred courses in the area, you can spend every weekend for two years on a different course and never repeat the same one!  There is a course for every skill level, and many of the courses have been designed by some of the greats of golf including Arnold Palmer and Jack Nicklaus. Plus, these courses are designed with nature in mind and they strive to preserve the natural beauty of the area.  For those who are interested, several websites exist that will help you plan a golf-centric vacation for a reasonable price.  Are you relocating to the area? Be sure to check out the numerous golf course communities where you can purchase a beautiful home with a view of the manicured greens. 

 

6. Restaurants:  Myrtle Beach is the perfect city for gourmets, too.  From delectable seafood restaurants to local burger joints, there is a cuisine for every palette.  If you are looking for a romantic dinner to celebrate an anniversary, check out The Library.  Complete with tuxedoed waitstaff and some unique table side treats, The Library has been a staple in Myrtle Beach since 1974.  In a casual mood? Grab a gyro at Abraham's or go all-American with a burger at Joey Doggs Burgers. You'll never get tired of dining in Myrtle Beach with so many choices available. 


7: People: Variety is the spice of live, and there is nowhere this is more evident than Myrtle Beach. Here, you can meet all sorts of folks from places all over the globe.  There are southern belles, bikers, bohemians, beach-lovers, and more.  The yearly festivals bring people of all interests as well.  Jazz fans will flock to the Little River Shrimp Fest in October. And, the Beach, Boogie, and BBQ festival on Labor Day weekend always brings a large crowd.  Myrtle Beach is perfect for those who enjoy meeting new people and engaging in social events.  There is always something going on, so jump right in and get involved!  Many of the events are family-oriented as well, so feel free to bring the kids. 


8. Sports: Whether you enjoy professional sports or your kids are part of a community team, Myrtle Beach has plenty of options to keep you active.  The North Myrtle Beach Condos Sports Complex features areas for baseball and soccer for the kids.  There are adult sports as well including softball and kickball.  Best of all, you can bring the family dog to play in the dog park!  If you enjoy professional sports, make sure you catch the Myrtle Beach Pelicans in action.  Plus, the Big South Conference comes through town on occasion, bringing the best in basketball to The Grand Strand.  Finally, as we mentioned earlier, golf is the most popular sport in the area, and there is no shortage of places for you to play.  So, grab the family and prepare to get active when you make the move to Myrtle Beach.


9. Nature:  Myrtle Beach is known for its beaches, as we mentioned above.  But there is more to The Grand Strand than sand.  For starters, this area has the Atlantic ocean at its doorstep.  Teeming with sea creatures and plenty of waves for surfing, there is all kinds of fun to be had in the ocean.  On land, you can find the marshes such as the one in Murrells Inlet.  The Murrells Inlet Marsh Walk has some incredible views of local wildlife, and there are several restaurants where you can grab a bite and enjoy the scenery.  Myrtle Beach also has manicured gardens, as well as two state parks for those who enjoy a scenic walk. All in all, if you are a nature-lover, Myrtle Beach is the place for you to call home.



10. Weather:  Myrtle Beach boasts some of the best weather on the coast.  There are more sunny days per year than most places in the U.S. and that means you have plenty of time to soak up the rays. Plus, it's difficult to be in a bad mood with such gorgeous weather.  The winters are mild and snow is basically a figment of the imagination.  If you're tired of the blustery winters and scooping the snow off of your car on a below-zero morning, we invite you to visit this winter and see what Myrtle Beach has in store.  We know you'll fall in love with the pratically perfect weather, and we look forward to showing you why life in Myrtle Beach is smooth sailing.

 

If you would like to know more about available homes in Myrtle Beach, call Jerry Pinkas Real Estate Experts at 843-839-9870.  And don't forget to follow us on Facebook,  or get the latest with Jerry Pinkas' Google+

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