What your plans are for the use of your investment property?
Are you going to use it purely as a rental investment without ever using it personally?
Are you planning on using your unit as a vacation retreat for your family and friends?
There are other things to consider when you are looking at in investment property at the beach. What is included, or not included in the homeowners association fees. Some complexes include insurance, water, cable, wifi, and electricity.
Rental income history will also play a big part of your return on investment. Some buildings and resorts perform much better than average.
Are looking for oceanfront, second row, or golf course vacation properties? What is the proximity to local attractions? – Broadway at the Beach, Myrtle Beach Boardwalk, Barefoot Landing, and Carolina Opry have been the most popular attractions lately with more to come in the future.
Myrtle Beach is also fast becoming a sports tourism area attracting, basketball, softball, baseball, lacrosse, and soccer teams from across the country to compete and vacation in Myrtle Beach, SC.
Where is the unit positioned in the complex? Corner unit, upper floor? lower floor, Is there an elevator?? Each building has its own characteristics which will influence the potential return on investment.
Also, the vacation rental company will make a huge difference on you return on investment. What is the commission rate? How many units does the management company manage? Typically the larger management companies do not get the premium rates and do not clean units very well. They also charge higher commissions for less personal service.
Century 21 Coastal Lifestyles has been servicing Myrtle Beach Real Estate and North Myrtle Beach along the Grand Strand. We can help you. Contact us today and put our experience to work for you!
Myrtle Beach Real Estate | Century 21 Coastal Lifestyles trusted real estate professional services for over 40 yours. We know Myrtle Beach real estate. Coastal Lifestyle Vacations, LLC can help you manage your vacation property once Century 21 Coastal Lifestyles helps you with your purchase. Myrtle Beach vacations are rated at the top of the list with Homeaway, Flipkey, Yahoo! Travel, and other major travel service providers.