"Vacation Home in Myrtle Beach"

[Latoya Gordon]

Hell0o Everyone :-) Hope All Enjoyed your Holiday weekend*

I am new to investing and decided I want my 1st venture a Vacation Home in Myrtle Beach, SC. I seen many condo's for sale around $25K to 100K but those HOA fee's steer me away. So I was thinking just to buy a house, fix it up, and rent through out the year here in Myrtle Beach.

I would like any suggestions from BP as far how, when, where to begin this new task I'm giving myself for the summer. I have not yet got the funds, I was thinking to use hard money lenders for the purchase and rehab the property I choose. Then hire a property management company to keep it rented.

I'm sure there is more than just these simple steps which I think might take me awhile to fully understand, due to me doing this alone.

Latoya Gordon

**Any advice or suggestions, positive or negative is welcome :-)**

[Paul Timmins]

@Latoya Gordon

Welcome take full advantage of the BP resources.

To find out the going rate search Home Away website see what the competition charges.

To find a PM go to IREM.org search for ARM certified property managers. Call 5 ask them what they see expenses running per category per unit. What do they see them selling for per unit, what is the market occupancy rate. What are the market rents? Ask them if they know anything coming up for sale. Great way to pick up some good info and possibly a deal.

You can also search NARPM.org for the RMP (Residential Management Professional) and MPM (Master Property Manager) certified.

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers). Find them through Google and meetup.com

Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook

Paul