All Forum Posts by: Jay Faulkenberry

Jerry, I live in Myrtle Beach and am a Real Estate Agent here. NMB is very popular and very successful with STR. You would need to check to see if your property is zoned for STR by contacting the County: https://www.horrycountysc.gov/departments/planning-and-zonin...

If I can be of any help, please reach out! If you want to use a local company to manage your rental instead of self-managing, I can put you in contact with a great team! They can give you projections based on historical data.

Real good info here! Congratulations on your success, Ray! I 100% agree that the Oceanfront or Oceanview would rent better and more frequently, especially in our "Off-Season" winter months. There are still plenty of attractions, shopping, and great restaurants that attract people all year long, and having one of those is definitely more marketable. He is also correct regarding the sections, but it goes even further. With 60 miles of beach (The Grand Strand), we have several communities with different activities/traffic/attractions, although all of it is easy to get to from anywhere if you want. Most people are aware of Myrtle Beach, but we have so much more: Garden City Beach, Surfside Beach (fewer STR, here), Murrells Inlet, Pawleys Island, North Myrtle Beach, and Cherry Grove. Look at the pros and cons of each.

In the Myrtle Beach area, you will not have a problem finding Short Term Rentals in danger of being banned. There are some areas where STR is not allowed, but STR is vital in our market. However, finding a decent rentable condo in your budget will be challenging if it is not a hotel-like room, which may be what your agent is showing you. The Myrtle Beach market is still facing inventory shortages, although better than last year, and our average prices have not fallen sharply, only leveled off. It will be interesting to see how the rest of the year plays out. Be mindful of the HOA fees too.

Amelia, I grew up in Lexington but moved to Myrtle Beach recently. What part of Lexington do you live in? Lexington has been growing exponentially for the last 30 years and it is still growing because of what you mentioned: climate, shopping, attractions, and proximity to Columbia, not to mention Lake Murray.

Lexington traffic is very heavy daily and 10 minutes is usually not enough time to get to Columbia. I advise being careful in "advertising" that unless you are closer to West Columbia and the airport. 

I lived in the Red Bank area and worked in downtown Columbia next to the USC campus. It took me 45 minutes or more to get to work and home during the rush hours even though I had three or 4 routes to choose from. Hwy 1 and Hwy 378 are parking lots many times. Now that they have widened I-20 (When it is finally finished) it should help. 

One of the reasons I decided to move to Myrtle Beach was because the traffic is not as bad here as in Lexington - even in the summer with tourists. I know that may be hard to believe, but it was one of many reasons I moved here, I am a REALTOR®. Yes, that is subjective and many may not agree with me, but after 40 years of living in Lexington and visiting Myrtle Beach multiple times per year, that is my honest opinion.

Let me know if you would like my thoughts on the areas.

Hi, I am a Real Estate Agent in the Myrtle Beach area and would be happy to discuss the area with you. I do not have any investments yet, but am working towards that goal. As a REALTOR®, I do help many investors with these same issues. The beaches are all clean. The water is not crystal blue like the Caribbean or parts of Florida, but that is the nature of the current flows, but there are some distinctions in the areas along the coast that I can tell you about. With over 60 miles of beaches, there are many types of investments you could pursue from efficiency condos/hotel type rooms under $100,000 to multimillion homes. You have to be careful regarding HOA fees and any special assessments that may be involved. I would be glad to answer any questions and tell you more about the Grand Strand.

@Austin Marvel for an accountant check with Tripp Newsome in Lexington at Newsome and Associates. One of my investment friends in Lexington uses him and I have used him for personal stuff for over 10 years when I lived in Lexington until this year.

Sorry, I do not. I have not performed any cold calls. And if others do, I don’t know where to get the information.

No legal reason. But many are on the Do Not Call List. Not sure of any sources but brokers here buy leads from several companies. Just perform a google search for lead generation based on your criteria and see what comes up. Perhaps work with a local Real Estate Agent to perform some lead generation campaigns. 

If you are interested in the potential for vacation rentals, check out the Myrtle Beach market. Also for SFR, this area is expected to grow. US News & World Report just ranked the MB area as the fastest growing market in the US, number 35 for the best places to live, and number 11 for the best places to retire. We have a lot of investors in this market, but I admit it is competitive right now. If MFR is your thing, there are some available opportunities as well.

I am in the Myrtle Beach area and looking for some as well.