What are the best properties for investment in Myrtle Beach?
If you buy a property by filtering through the highest gross rental properties, find what you can buy for the least amount of money and has an efficient homeowner association you will usually have a very good long term property.
Here are 4 examples of deals that Jerry Pinkas Team has personally negotiated for our buyer clients!
- Oceanfront efficiency condo sold for $72,000. That has gross rental dollars of $16,000/year – Those numbers work!
- Oceanfront 1 bedroom condo sold for $117,900 That has gross rental dollars of $25,500/year– Those numbers work!
- Oceanfront 1 bedroom condo sold for $124,900 That had gross rental dollars of $27,600/year– Those numbers work!
- Oceanfront 2 bedroom 2 bath condo sold for $195,000. Gross rental dollars of $29,000/year– Those numbers work!
Myrtle Beach, SC area has over 60 miles of beach, so there is a lot of geographies, many different buildings, and complexes. To be most successful in your home search you’ll need to consider more than rental history, price, decor, amenities, cash flow, and POA fees.
What else should you consider when making an investment in a Myrtle Beach condo? Check for current or future assessments, pending litigation, rental occupancy rates and if the cost of the rentals is moving up or diminishing. People vote with their dollar so if the rentals are strong the renters keep coming back year after year!
Do I need the services of a qualified Real Estate Professional?
Many properties may be average. But it’s all about buying the ones that are way above average to get a great return on your investment. If you are self-represented, consider the services of a seasoned real estate pro who knows the local area and can get you into the BEST properties available! The internet is a good tool, but it certainly doesn’t answer all your Myrtle Beach condo investment questions. Always consider the source of your information. If someone from the internet sent you the information you need to think about their own motivations. Are they working for the home seller? Are they the listing agent for that condo? What is there motive for pitching you on a particular project?
The best way to get everything you are looking for in an investment is to hire a Buyers Agent to work for you in all relevant areas of the transaction. The Best Free service you can get is Hiring a Pro to go to work for you. If you were on trial for a crime, would you consult a lawyer that gives info over the internet? Or one that has been in court twice and refers to the books he used in college? Absolutely not! This is an investment property that you need to return a great ROI!
Doing your preliminary homework is excellent, but take time to work with a Realtor on one. You will get a ton of information that just can’t be covered in an email or by phone. You will learn the good…. the bad…..and the ugly. (Every property has good, bad, and ugly) When you take the time to learn the aspects and dynamics of investing in your Myrtle Beach condo, you can make an educated decision.
When you hire an agent it’s about them going to work for you so they can match you with the Condo properties that closely match your investment objectives.
There are 3800 agents on the Grand Strand. You can choose any agent to work with, however, skill level, knowledge, and dedication to do the very best for a client are what should be their #1 priority. www.HomeGuideMyrtleBeach.com
Is This the best time to buy?
You’ve seen the stats above, a Myrtle Beach condo is an exciting investment! Great deals are currently being made! Even if you buy an average condo today at today’s prices, you’ll still probably make money long-term. But don’t settle for average!
The Jerry Pinkas Home Selling Team – is your local expert in all your Real Estate needs for the Myrtle Beach Area. Our Team is dedicated to informing our clients on how to be a pro in the local real estate market and avoid common pitfalls that are costly to you! You will have access to the most comprehensive MLS Listing Service in the area with Free access and lots of tools for both Buyers and Sellers.
To learn more about the best Myrtle Beach properties or schedule a tour of this beautiful community call us today.
Jerry Pinkas Real Estate Experts