All Forum Posts by: Carolann Hosey

I am looking at Myrtle Beach for my first property.  I know most of them are those condoels which apparently is an old term, but looking for insight.  Most posts I've seen on this topic are old.  

I understand the basics, that the are operated like hotels, you have fairly little involvement and after the 60/40 split (on average) you would gain about a 5% ROI and that the real benefit is 1) you have a place to stay if and when you want to use it and 2) you have a (hopefully) appreciating asset to hold on and sell later.

I really want PCB but at this moment, without partner, or a lender willing to do 90-95% LTV I can't right now with the prices I see.

Yes, I would agree.  Even with their numbers, it still looks a decent deal if self-managed. 

Hey! I am looking at my first STR property, and this one is giving me analysis paralysis :). It is a condo on S Thomas Drive. The agent said the 1 bedroom units, in 2019 grossed $29k however AirDNA is saying $41k for that property.

Anyway, here are the numbers. 

If I use the property history of $30k rental a year, and divide by 12, average STR income is $2550 a month. HOA is $465, taxes about $170 insurance $70 Capex 5%, Booking fees 3%, ROI is 4.5%

But, if I do the AirDNA rental income projection, the ROI is 24%!!!!

At $199,999 its rental ready, but can use some work, however there are no other comps in the bulking to determine the ARV but with $20k in repairs, I estimate $220k in value, making it a wash (for now).

I need help!! Those rental projections are so vastly different!!