You can get high night rates during football season and holidays, but outside of that they drop rates below $100/night to minimize vacancies.

You need to package everything correctly and shop several banks as they all have different appetites rates and terms.

Of course, you won't get the discounts that PM's get because your size is smaller.

Mainly to do with the very high rental rates that are being asked by landlords.

It's currently listed for $/acre rate that's below several recent sales in the area, and is zoned accordingly (MH).

Long story short, we have been renting it out and have been told that we would be safer if it were in an LLC but we do not want to refi and lose the rate we are at.

Most investors we represent had at least a 5% increase in rate.

It was just a way to earn a few extra bucks when the circumstances proved right.The same for subject to deals; loan subordination; purchasing of “discounted” notes, or hard money lending.  

The value is continuing to increase on Hilton Head, but with buyers sitting more on the sidelines with interest rates, deals are being done in this market that can only be done right now.

For anyone who’s invested in the Blue Ridge area, I’m curious to know what occupancy rates you’ve seen (based on your property).