Myrtle Beach area for Airbnb's?

[Kirk Roberts]

Evaluating the Myrtle Beach area for short term rentals.   Particularly the Carolina Forest, Arrowhead type communities towards Conway the 501 corridor heading away from beach.   Single family homes.  Anyone doing this in that area?   How is market, occupancy and restrictions?    Any insight is appreciated!!

[Myrtle Mike Thompson]

Hi Kirk! Short-term rentals can be quite lucrative in the Myrtle Beach area, but most investors are purchasing oceanfront or closer to the beach. I live in Carolina Forest and have a LTR there. Almost all of the neighborhoods are governed by an HOA that restricts short-term rentals. That goes for several parts of Conway and the 501 corridor that you mentioned. The trick would be to find a single-family house outside of an HOA community. They do exist. I don't have any helpful data, but I've personally been looking at buying a property off 501 near Coastal Carolina University (CCU). The school brings in a ton of visitors for various events throughout the year and it's also located right next to a large hospital where you could cater to traveling nurses... $$$. There also aren't many hotels in the area to compete with. You know the more I talk about it I think I just need to do it! LOL