Real Estate Investing in Myrtle Beach

[Kevin Herget]

Hello all,

I am moving to the Myrtle Beach area in the next week, and was looking into ways to invest in Real Estate there. I am from NJ and was brought up in a family that invested in many Multi Family homes and Rentals. Also, been involved in construction and contracting since I was little, since it is my fathers occupation, and continues to be. I would ideally want to do that but Myrtle Beach seems to be a much different market than NJ, and Multi Family homes are harder to come by. Most Rentals seem to be Vacation Rentals, and not knowing your cash flow on a year to year basis makes me a little uneasy. So I was wondering if anyone had any advice on how to get started. I have been looking into Mobile Homes, and Mobile Home Parks since there seems to be a lot of them in the area. Mobile Homes seem to be inexpensive and possibly easy to Flip, with creative financing options being a way to make some money there too. 

Any advice, or insights would be much appreciated.

Kevin Herget

PS: I am newer to biggerpockets, been reading their blogs and articles for years, but never participated in the forums and memberships until now. 

[Caleb Coblentz]

Hey Kevin,

You are right.  There is not a huge market for multi family.  From what I have seen, they are in not so great areas.  I've seen a few that looked nice though.  As far as vacation rentals go, we should be able to get you rental history and income on most properties.  There are several investors that are in mobile homes.  Typically adding value by increasing # of units or fixing them up and increasing rents.  Let me know if there is anything I can do for you.