Starting Out in the Vacation Rental Property Business

[Brian Denvir]

Hi All,

I am new to real estate investing and have been spending the last year and more specifically the last few months in the self education process (i.e. reading books, attending bigger pockets webinars, etc.). I have family who have many vacation rental properties in the Myrtle Beach area (condos), and they shared some information with me about the success of their ventures thus far. Their properties, in particular, are ones that are managed for them. I know this is an expense and cuts into cash flow, but this has particular interest to me for many reasons, particularly because I live in New York, and don't have much of an interest in managing myself - so these types of properties are particularly attractive.

Does anyone have any experience in the condo business either in Myrtle Beach or any other popular vacation destinations that have some advice for someone just starting out? I would appreciate any type of information anyone is willing to share. Thank you in advance for your time and insight. This is an exciting endeavor and these forums are an incredible way to share information and learn from those who are more experienced. Thanks again, and I look forward to hearing from some of you!

Brian

[Daniel Denning]

Hey @Brian Denvir! I own a condo in Myrtle Beach that I rent out as well as manage 2 other properties as a co-host for people that live in New York and Pennsylvania. Feel free to pm me any questions or we could do a call to go over any of your questions about the area.