All Forum Posts by: Ray J.

@Teresa Rex

Happy Thanksgiving, and happy to meet you! We just closed on our STR condo in Myrtle Beach and we loved our realtor. I am not sure if she has her own STR's but she was phenomenal and very helpful throughout the entire process.

Try Pamela "Pam" Kelly with Home Smart Expert Realty.

Tell her Ray and Sandy from NY sent ya. Good luck and let me know how it goes!

@Ryan Brooks

@Ryan Brooks

Keep in mind that ocean front condos in Myrtle Beach are generally all called condotels with some exceptions. If your not familiar with that term it basically means a condo that is run like a hotel with their own onsite property management.

My fiance and I are actually closing on one in a couple of weeks to use as an STR and here is some advice that I can give you:

- If the complex allows you to use outside property management I would recommend it because onsite management is generally at least 40% off of your gross revenue

- Self management is a great option from what I've read once you have the right process, procedures, people in place. (For me personally we chose an outside management company as they already have the right contacts procedures etc in place and appear to have a great reputation and I was impressed when I spoke with them, but thats not for everyone)

- When searching for condos/condohotel produce a lot higher gross revenue than ocean view but the closer to the water generally is always better in revenue

- Make sure to have your agent recommend or do your research for mortgage brokers that do condotels as a lot of mortgage companies will not finance these type of properties

Feel free to connect with me and I'd be happy to answer any questions you have!

@Bonnie White Thank you for the insight! Yea the prices have just skyrocketed now where I'm thinking I should just wait it out and let them come down a bit.

@Chris Smith

Thanks for the heads up! Yea the community had a lot of amenities, and I see the STR market seems to be really good there.

Are there other communites around the area you would recommend for STRs?

@Chris Smith Thank you for the heads up. The prices for cabins have skyrocketed from what we have seen unfortunatley.

Do you own a property there that you STR Chris?

@Remi Oguntoye

Thank you for reaching out! Unfortunately due to the Coronavirus and all the shutdowns I haven't been able to progress further, but hopefully next year things might change a bit.

@Yaroslav L. It is nice to meet you! I'm looking to possibly purchase a vacational rental in that area, and was wondering how your experience in that area has been so far?

@Bonnie White I am from New York, but looking at potentially purchasing a vacation rental in The Hideout as I've been doing some research and it looks like a great area for a vacation rental!

How has your experience been so far with the area? How did things go with your BRRRR?

@Larry Garber I am from the Middletown, NY area and yes Legoland and is slated to open on 4th of July. Pair that with Woodbury Commons potentially expanding and Resorts World Catskills casino 30 minutes away it is a good place to invest.

Do you have a lot of experience with Airbnb? If so, I would love to pick your brain and I can provide you with more insight on the area.

@Edward Ng I did a search on Facebook and found a group a month ago called Real Estate Investors of Hudson Valley which I joined. Looks like they generally meetup in the Fishkill area. You should request to be a part of the group.

I haven't attended a meeting yet, but thought I would pass along the information to try and help out!