All Forum Posts by: Ray J.

@Molly Paprota When we were searching for our property out of state we had our realtor do a physical walk through on a video chat. After that we made plans on a weekend and physically toured the property we were interested in before making an offer.

I would highly recommend especially if you are a newer investor that you tour the property as you get to see things that might not be visible on a video chat.

Congrats on the sale! Onto the next one!

Looks really nice! Especially love the hanging chairs!

@Henry T. HOA fees really vary depending on the specific resort in Myrtle Beach! Generally speaking I have seen them range anywhere from a few hundred per month all the way up to 1300 or 1400 per month.

When we were initially searching different condo listings we took that into account, and found a resort with lower HOA fees but that still did provide great amenties like pools, spas, workout room etc. that our guests can use during their stays. We also took account HOA when running our numbers to ensure we were still going to be profitable.

@Galen Ikonomov - Thank you, yes we thought the green really gave a soothing feeling which is perfect for the beach.

@Michael Weigum - Thank you again for all of your help and suggestions. Next time we are down there hopefully we can meetup!

@Jay Thomas - Thank you so much!

@Jack Tulloch - Thank you, I appreciate it.

@Tyler Solomon - Thank you for the heads up!

@Coury Cast Thanks Coury!

@Myrtle Mike Thompson Thank you! We are excited to get going on this STR investment journey.

@Michael Baum Thank you!

Hi BP!

Well after much research, reading, discussion & questions to members here (Shout out to: @Chris Noles, @Shane Lafleur, @Michael Weigum & @Daniel Denning) my fiancé and I have purchased an oceanfront studio condo in Myrtle Beach South Carolina which we will be using as a STR. With the help of our property management company we hired we are now live on the major platforms and accepting new bookings!

As many members of this Bigger Pockets community have stated the hardest part was the "Analysis Paralysis" and taking that first step, but glad we did. Thank you again to this platform for helping us move to the next stage in our investing journey.

Below are links to our listing on both VRBO & AirBNB. 

Looking forward to meeting and networking with more of you that are also investing in the Myrtle Beach area. Thanks!

VRBO listing: https://www.vrbo.com/3128694

AirBNB listing: https://www.airbnb.com/rooms/769390999385462290

@Mike Dawson I would suggest you shop around for local lenders in the area as that seems quite high. I just closed on a condotel as an investment with my fiance and our rate was much much lower than that!

Keep in mind it will depend on a lot of factors such as credit score, income, DTI (debt to income), but it is worth trying a few lenders to grab the best option.

Not sure where you are looking to purchase, but DM and Id be happy to share who I used.