The Oceanfront Litchfield Inn, Litchfield, SC

[Brittany Scantland-Lall]

Hi Team - Does anyone have experience with the Litchfield Inn, Litchfield, SC as a condo investment? We have vacationed in Litchfield/Pawleys for years. Because we're usually down with more family, we don't stay at the Inn (though we eat there). We've wondered about it as an investment property. Experience? Insight? Thanks! Brittany

[Myrtle Mike Thompson]

@Brittany Scantland-Lall I don't have any clients who own at Litchfield Inn but it's an interesting proposition. The HOA fees are much lower than you'll find with nearby properties to the north in Garden City, Surfside, and Myrtle Beach. I can tell you there is very little turnover at Litchfield Inn... meaning units rarely come on the market. There was an efficiency listed for $140k but it's now under contract. You could check AirDNA or similar software, but my guess is gross rental income would be around $20-$25k. Keep in mind efficiencies are very difficult to finance, so something like that would need to be a cash deal. If you're open to other areas or resorts for STR, feel free to reach out. I've brokered deals for BiggerPockets members all up and down the Grand Strand.