First Time STR Buyer Questions

[Mike Dawson]

Hi everyone! Long term lurker first time poster. We are ready to buy an STR in Myrtle and every time we find a place we run into some hidden fee that hikes the price up. For Example, we realize condos have high HOAs being on the beach, but then they mandate the use of their property management if you want access to some of the more attractive amenities. Another instance is we found another condo with lower HOA fees, but we have to pay building insurance... Why am I paying building insurance if I don't own the building? I know this is all a learning experience for us as we have never been into the condo purchasing world, but is there any other fees we should be aware of? Is there any other things that may come up that I may not be aware of?

[John Underwood]

Try and buy a house and get away from all these HOA fees.

HOA fees can go up in the future also. They can change the rules on you etc.