....and we are in

[Doug Henson]

So we decided to give this a go with a low cost investment and bought an oceanfront condo/hotel in Myrtle Beach. We picked it up on forclosure from the bank for a little less than half of what the original owner paid 6 years ago. The rental income from last year minus the management fee will more than cover the costs if it remains constant in years to come. The final decision was made pretty easy when we visited Myrtle in July - EVERY place was full that we looked at - are you guys not in a recession?
As I have read here on several instances, you really learn by doing. If this in fact works out as well as I hope, it will perhaps be time to pick up another property in Myrtle when I review my position in a years time. If I crash and burn, all is not lost - and I have a place to stay when I go down to Myrtle to golf. This is going to be interesting if nothing else. Now to get my ITIN number..... :roll: