I get a lot of calls and emails about condos on the beach and investments, and “what should I look for, and what should I knot look for?” So today I’m going to talk about the good, the bad, the ugly, kind of like I do when you’re here looking at properties. I don’t just tell you what’s good. I tell you what’s bad and the problems to stay away from.
Today we’re at Compass Cove Resort. It’s an ocean unit on the 7th floor. The resort has 23 pools, lazy river, tiki bar, shuffleboard, sports bar, breakfast, and restaurants – lots of stuff going on here.
A unit like this is selling for $115,000 and brings in about $27,000 – $28,000 per year. This particular unit did $27,477 last year. There was a little bit of owner usage, so that took away a couple weeks of money.
This particular unit is one bedroom, one bath, one living room. We’re going to go inside and talk about everything that’s included.
Watch the video for a detailed look at this unit and for a perspective on what’s involved with making an investment in a condo property in Myrtle Beach. Be sure to also check out our other videos on our YouTube Channel, and keep coming back to our blog and videos each week for up-to-date advice on investing in properties in Myrtle Beach, along with other beachfront related articles.