Does anyone invest in vacation rentals at Myrtle Beach?

[Jason Layman]

I am having trouble finding buyers for vacation rentals.  I have a deal under contract in North Myrtle Beach.   Im not having  a problem with the deal not being good for a buyer, but finding investors who deal in vacation rentals.  Anybody here looking for a beach rental property or know someone who is?   I have put out a few FB posts trying to gather buyers but no luck there.

[Andrew Johnson]

Jason Layman There are plenty of us that are open to vacation rentals. Gross rents look awesome and then you look at the costs. Insurance (if you include wind/hail) is really high, property management is crazy high (and worth it), property taxes for an out-of-state non-owner-occupant are high, etc. Water/sewer is generally low but you (as the owner) are still on the hook for 100% of utilities. And if you’re looking at those 1970’s builds that haven’t really been updated too much, well, there are PLENTY of them on the market.

And this is from the perspective of someone that has specifically looked at Myrtle Beach and North Myrtle Beach.

I don’t think it’s an accident that you have a lot of properties that turn over about ever 5 years. The novelty (if it’s a drivable vacation spot) just wears off when the bills add up. And if you’ve owned “close to the beach” you have a good understanding of how salt air impacts your maintenance costs.