Step one is “Don’t be Absentee: Self Manage.”

An absentee Owner doesn’t really care what happens. They hand the unit off to a property manager and leave it all to them. But with that, goes 30% to 40% of your profit.

Conversely, a successful self-managing owner watches over every aspect of their business, follows the market, and aims at giving an exemplary experience to every paying guest. And this is why they rise to the top 5% of Airbnb Hosts, and don’t have to worry about profits.

Step two is “Carry a spirit of Hospitality.”

The Additional Profit will Come So Long As You Carry a spirit of Hospitality.

People are humans and don’t want to deal with big organizations.

They want to have a “fire side chat,” and know who they’re renting from and that they are seen and heard.

A simple conversation with a potential a guest is what sets you apart from the onsite property management companies at large resorts.

You’re a person, just like them, that happens to own a unit at the Beachfront Resort they like. So, to them, if you get it right, they feel like they’re renting from a friend.

Remember, hospitality is when something happens for you, and not when something happens to you. Let this guide the experience you’re creating for your guests.

When they hear a friendly voice or read a nice text or email on the other side of that phone or computer, they’re going to know that they’ve made the right choice in selecting your unit for their vacation.

In all your advertising, in the brand you’re creating, you want to people to feel warm and welcomed with every exchange, and that’s how you get repeat business, year after year. 

As long as you put the guest first, you won’t ever have to worry about the profits, or the additional profits you can earn from marketing your unit.

Step 3 is “Don’t Skip Hospitality.”

Beware of Getting this Wrong. If you lack the spirit of hospitality, no matter how much additional marketing you do, you won’t keep the additional business.

You can’t build on a negative, and if you’re unfriendly, non-hospitable, and lack concern for your guests’ experience, you won’t get any further than the new guests you manage to catch with each new year. And they won’t be returning.  

Step 4 is “Marketing! Marketing! Marketing! Means “Build a Brand.”

People must learn what they get when they get you. So long as that is hospitality, then you’re free to begin exposing the rest of the world to your business.

In a recent conversation with an agent, the seller mentioned that with the additional marketing that he does for his unit, he brings in an additional $8,000 to $10,000 in Gross Rental Income.

Would you like to make $8,000 to $10,000 More Gross Rental Income? Here’s how.

Post Your Unit on Your Social Media accounts.

You can have the greatest units in the world and the best service but if there isn’t anyone that knows about it, you aren’t getting bookings.

Invest in software like Munch or Vidyo.ai to turn your content into branded material that can be posted on multiple platforms.

Additionally, join Facebook groups like vacation groups, etc, and post your listing in the group.

Run Facebook Ads.

Set up an annual ad that runs for $4 Per day. People click the add and it takes them to a Google Form where they input their information so you can call them and book their stay.

Film a YouTube Video Ad and run a Google Ad.

Film a 3-minute video on your unit and run Google Ads to boost it. People click the Google Ads and it takes them to your YouTube channel so they can see your contact information in the description and call, text, email, or click a link to your Google Form and give you their contact information.

Set up a Blog Post.

Set up a Blog Post all about your unit and start sharing your posts on all social media platforms. Create blogs at the intersection of Myrtle Beach and Vacationing. Use a service like Rank IQ to ensure that your blog gets the traffic it needs.

Bonus: Rental Strategy Secret.

According to Mike, in Myrtle Beach, bookings come last minute. This has also been confirmed by a client of mine that uses this same exact strategy.  The secret is not requiring 7-day rentals and because everyone else in the market does require 7-day rentals, they get more bookings this way. Furthermore, you can charge a premium for those wishing to book last minute and that want a shorter stay, because everywhere else requires 7 days.

Mike went on to tell me that in July (the busiest month of the rental year), he might have had one 7-day booking, but was rented every night that month. This only serves to confirm market demand for shorter stay rentals.

Call today to discuss your next Oceanfront Condo purchase in the Myrtle Beach Real Estate Market: 843-360-1737

Disclaimer: All information given is meant to be educational. I am only passing on historical information shared with me by owners, rental companies, and various publications. Additionally, I am not guaranteeing these numbers, nor can I guarantee future rentals or appreciation. This information is not intended to replace your own research, or to provide legal, investment, or financial advice. Please consult an attorney for legal advice.

For expert advice and to explore available opportunities, call 843-360-1737 today.

In this blog post, I’m going to teach you how to flip a Myrtle Beach Oceanfront Condo every 2 years so that it maximizes Gross Rental Income while you own it, how to remodel it for maximum income, and sell it 13% above what the average Myrtle Beach Oceanfront Condo sells for.

How Do the Pros Do It?

They buy a dated Mrytle Beach Oceanfront Condo, remodel it very well, own it for a year while self-managing the unit on Airbnb and VRBO to show that it outperforms the other units at that resort, and then they put it on the market at well over market value and sell it.

It’s that simple and that easy.  

Step one is simple: Purchase a dated Myrtle Beach Oceanfront Condo.

Let’s Look at Unit 1231 at the Caribbean Resort.

It was bought on 07-20-2021 for $150,000.

It was remodeled and sold on 12-14-2023 for $268,000 when the average 1-bedroom unit at that time sold for $236,800 and the low sold at $209,500.

The seller made: $31,200 more than the average unit that sold during that time and $58,500 more than the lowest unit that sold during that time.

With a purchase price of $150,000 and a $268,000 sales price alittle over 2 years later, that’s $118,000 earned income.

Assuming the remodel costs $30,000, then the seller still made $88,000 in profit on a $150,000 Myrtle Beach Oceanfront Condo Investment. That’s a 79% increase in your money. In other words, a 59% Cash on Cash Return in only 2 years. That’s almost 30% per year on your cash!  

So, they purchased a dated Myrtle Beach Oceanfront Condo for cheaper than market value, and remodeled it better than the other units at the Caribbean Resort.

Step Two is Simple: They Remodeled the unit.

But what did they do to make this unit better than the others at the Caribbean Resort?

Consistent Color Theme. This is the main thing you must get right. If you get this right, the rest is obvious. But this can be the hardest thing to get right so I have included a description below of what you need.

They painted the walls a very specific teal color with white trim and used a grayish brown flooring. These three colors are found all throughout the unit. The teal, white and grayish brown colors work on Airbnb and VRBO for rentals. They just do, and they must be consistently found throughout the unit.

The color theme throughout the Myrtle Beach Oceanfront Condo unit is consistent with the teal, white and grayish brown colors even down to the teal sheets on the bed, teal chairs for the white table, teal night stands, white cabinets in the kitchen, and the grayish brown mirror frame hanging on the wall.

You need updated appliances, a grayish white granite countertop with teal backsplash, and modern light fixtures throughout the unit.

Don’t miss the stripped accent wall where the electric fireplace, mantle board, and TV is mounted. Nor, the grayish furniture throughout the unit.  

Besides that, add a few consistently color themed pictures, a nice light brown rug for contrast, a wooden desk that is light brown, again for contrast, light brown baskets in the night stands, gray curtains, a blue couch—for contrast—and tan chair, and a splash of deep pink to accent the wall above one of the beds, with a picture on the wall above the bed that has the same splash of deep pink.

Oh! And don't miss the balcony furniture!

So, what’s next? You must have proof that the remodeled unit can beat the market.  

Step Three is Simple: They put it on Airbnb and VRBO to show a strong rental demand that Outperforms Other Units at the Caribbean Resort.

Unit 1231 outperformed the average gross rental income by $38,131! This is proof of what it’s like to have a Myrtle Beach Oceanfront Condo that’s in the top 5% of Airbnb listings.

And About Carrying Costs: You Don’t Have Any Because this Unit Makes a Nice Profit.

I’m going to let the numbers below do the talking here, but I will say, if purchased with cash, you’re clearing $55,285.20 annually.

Again, letting the numbers do the talking, but when purchased using financing, you’re still clearing $37,189.20 in profit annually.

And the appreciation isn’t bad either.

But Don’t Sleep on the Depreciation, Everyone Can Use a Tax Break.

Step Four is Simple: List the Property at 13% Above the Average List Price at the Caribbean Resort.

Once they had proof in hand, that’s all they needed to put this Myrtle Beach Oceanfront Condo on the market at 13% above what the average unit sold for and right at 28% above what the lowest unit sold for at the Caribbean Resort during that time.

Now, Let’s Put this into a 10-Year Plan.

Using this business model, you can purchase a dated 1-bedroom Myrtle Beach Oceanfront Condo every 2 years, remodel it, sell it, and make around $88,000 in profit on the flip.

Not to mention that even when using financing, you’re clearing another $37,189.20 in profit after all your expenses are paid.

Within two years of renting this unit with a $37,189.20 profit, you can take that money, now $74,378.40 (2 years accumulation) and use it for the down payment on your next Myrtle Beach Oceanfront Condo flip.

Over the course of the next 10 years, you should have flipped 5 Myrtle Beach Oceanfront Condos at $88,000 in Profit per flip, for a total of $440,000 in profit from flips. And, you’ll also keep your final 2 years rent roll of $74,378.40.

Ultimately, you’ll exit in 10 years with around $514,378.40.

Here it is Plain and simple. 

You buy a dated 1 bedroom 1 bathroom, remodel it, and convert it into a 2-bedroom rental unit on Airbnb and VRBO. It’s that simple and that easy.

You purchased under market value, you save on the down payment because a 1-bedroom is cheaper than a 2-bedroom, you make more Gross Rental Income because 2-bedroom units generally outperform 1-bedroom units on rental demand, and to top it off, you save on the remodel because it’s cheaper to remodel a 1-bedroom rather than a 2-bedroom.

Here’s How to Beat the Short-Term Vacation Rental Airbnb and VRBO game.

By buying a 1-bedroom instead of a 2-bedroom, you’ll have cheaper upfront investment (less down payment cash out of your pockets). This means you can buy more units quicker, of course, based on the rate at which you save cash for investment.  

With the extra $64,442 cash, that you saved throughout the entire process—on the purchase, remodel and additional Profit from the increased Gross Rental Income,  you can now buy a new 1-Bedroom Myrtle Beach Oceanfront condo every year!

The plan is to buy one Myrtle Beach Oceanfront Condo per year so that at the end of 10 years, you own 10 units. With the average 2-bedroom at the Caribbean Resort bringing in $61,899 annually, that’s $618,990 in Gross Rental Income—on average—from all 10 of your units.

If you purchase them with cash, that’s $22,479.49 in profit per unit for a total of $224,794.9 in annual profit from all 10 of your Myrtle Beach Oceanfront Condos.

If you purchase with financing, that’s still $4,503.49 annually in profit per unit for a total of $45,034.9 in annual profit from all 10 of your units.

But don’t miss how much these units appreciated in the past decade! Over $88,114 in appreciation. That’s $8,811.40 in annual appreciation.

Additionally, you can depreciate these units based on the appraised value. Assuming that the appraised value is the same as the average purchase price of $211,522, that’s $7,691.71 in annual deprecation for reducing your overall tax burden.

And finally, don’t forget the savings you make when using your own unit for your vacation stay!

How the Ultimate Myrtle Beach

Oceanfront Investment Condo Strategy

Works. 

First, You Win on Purchase Price.  

Let’s Compare the purchase price of a 1-bedroom Oceanfront Condo with the purchase price of a 2-bedroom at the Caribbean.

The average price of an Oceanfront Unit at the Caribbean Resort in 2024 is $211,522.

 The average price of an Oceanfront Unit at the Caribbean Resort in 2024 is $352,500.

That’s a difference of $140,978.

You’re keeping $140,978 in your pocket on average when purchasing a 1-bedroom unit instead of purchasing a 2-bedroom unit.

This translates in a cheaper down payment by as much as $35,245. This is the money you need to save for the down payment of your next investment. Of course, that down payment being $52,880.50, the next 1-bedroom oceanfront condo you’ll be converting to a 2-bedroom.

By reducing your purchase price now, you’re setting yourself up later (next year) in accordance with a long-range real estate investing plan that will build your real estate portfolio.

You Win on Profit from Gross Rental

Income. 

The average Gross Rental Income for a 1-bedroom unit at the Caribbean Resort is $43,702.

The average gross rental income for a 2-bedroom unit at the Caribbean Resort is $61,899.

That’s an increase in Gross Rental Income of as much as $18,197.

On average, 2-bedroom owners are making as much as $18,197 more and they have roughly the same expenses as 1-bedroom owners. It’s a no-brainer to convert your 1-bedroom into a 2-bedroom oceanfront unit.

The extra $18,197 at the end of each year translates into the rest of the down payment money you’ll need for next year’s Myrtle Beach Oceanfront Condo purchase.

Remember, at 25% down, and a $211,522 purchase price, you’ll only need $52,880.50 down on your next 1-bedroom Myrtle Beach Oceanfront Condo loan. Between the $35,245 you saved in down payment money by purchasing a 1-bedroom instead of a 2-bedroom, and the $18,197 you made in additional Gross Rental Income by converting your 1-bedroom to a 2-bedroom unit, after your first year, you’ll have $53,442, which is just above the amount of money you need for next year’s 1-bedroom Myrtle Beach Oceanfront Condo purchase.

All you have to do is be disciplined enough to say “no” to distractions for the next year, and you have the down payment money you need to win at your very own long-range real estate portfolio expansion plan.

You buy a dated 1-bedroom Myrtle Beach Oceanfront Condo below market value, you remodel and convert it to a 2-bedroom unit, and then you simply repeat next year.

Before we move on to the how much you save in remodeling a 1-bedroom instead of a 2-bedroom, don’t miss the stellar performance of 1-bedroom unit 1231.

Did You Miss the Gross Rental Income on

Unit 1231 at the Caribbean Resort?

This is worthy of mention. Unit 1231 outperformed the average gross rental income by $38,131! This is proof of what it’s like to have a Myrtle Beach Oceanfront Condo that’s in the top 5% of Airbnb listings.

You Win On the Remodel.

Your typical Myrtle Beach Oceanfront Condo 1-bedroom remodel costs $25,000 while you’re typical 2-Bedroom Oceanfront Condo costs $35,000. That’s a savings of as much as $10,000 on your remodel expenses.

Now, when you add in the additional remodel savings of $10,000 from purchasing a 1-bedroom instead of a 2-bedroom Myrtle Beach Oceanfront Condo, you’ve just thrown cash back into your real estate portfolio expansion plan, giving you even more money for the down payment on your next 1-bedroom Myrtle Beach Oceanfront Condo.

Call today to discuss your next Oceanfront Condo purchase in the Myrtle Beach Real Estate Market: 843-360-1737

Disclaimer: All information given is meant to be educational. I am only passing on historical information shared with me by owners, rental companies, and various publications. Additionally, I am not guaranteeing these numbers, nor can I guarantee future rentals or appreciation. This information is not intended to replace your own research, or to provide legal, investment, or financial advice. Please consult an attorney for legal advice.

For expert advice and to explore available

opportunities, call 843-360-1737 today. 

Market Update.

6.5 Months of condo inventory on the market currently.

At 6 months, we’re in a buyer’s market.

In other words, it will take agents in our market roughly 6.5 months to get all the inventory that’s currently on the market sold.

Sellers are being told this buy their agents. The agents are letting them know that the market has softened which is another way of saying that sells are happening at a slower pace. Instead of it taking 60 days to get a condo sold, now it’s taking on average 128 days for that same sell to take place.

What this means for you is that there’s a lot of competition among sellers for the buyer’s that are shopping the market.

Since seller’s know this, they are reducing their prices so that they don’t sell their neighbors unit.

Currently, there are 1,245 Oceanfront or Oceanview units on the market either with an active or pending status.

Great Resorts with Lots of Amenities Yet High Inventory.

Ocean Reef has 21 active listings on the market.

Caribbean Resort has 21 active listings on the market.

Landmark Resort has 41 active listings on the market.

Beach Cove Resort has 35 active listings on the market.

Compass Cove Resort has 32 active listings on the market.

Sand Dunes Resort has 19 active listings on the market.

Low Inventory at Great Resorts Might be a Clue to Value.

However, places like Dunes Village and Grand Atlantic, only have a limited number of listings on the market because inspite of how the market is doing, they stay in demand.

Dunes Village has only 5 listings on the market.

Grand Atlantic has only 1 listing on the market.

So Why are Seller’s So Desperate to Sell?

It's not that everyone is so desperate to sell. It's that there are some desperate sellers out there, and when there are, it serves as an excellent opportunity for investors.

I just helped an investor buy an oceanfront condo at Windemere for $100,000 under the last unit that sold at the resort! In other words, he bought and instantly has equity in the unit.

So, deals are out there, you just need a broker to help you find them.

Condo inventory is up right now which means there's a lot of competition over buyers so sellers are more likely to reduce their price. Is that always the case: no. Are our prices holding: yes.

Our market behaves differently than the rest of the nation because of all the demand we have. Think about it. With Babyboomers retiring at 10,000 per day and moving to Myrtle Beach and Florida, you couple that with the fact that US News and World Report ranks Myrtle Beach South Carolina as the fastest growing place out of the 150 most populated places in the entire United States, and we’ve had that rating for the past 3 years!

Our market is NOT like the rest of the nation. It’s a resort market and as long as people want to retire and live at the beach, then we’ll have the demand.

This is where you want to invest your money in my opinion. Not Florida, not New York, not Texas or California, but Myrtle Beach, South Carolina.

However, Our Market Has Been Softening.

There are a variety of reasons why sellers are selling: HOA dues have increased in some places due to insurance increases. But, as long as your Gross Rental Income (GRI) remains higher than all your expenses, and you're ultimately turning a good profit, who cares if the expenses increase some?

The tourists renting your unit are paying all the expenses and you’re turning a profit! So, don't let expense increases scare you. That's thinking about the investment narrow-mindedly.

You must look at the overall, the macro picture of your investment, or the life of your investment. Think about it in terms of ownership duration.

If you plan to own it for 10 years, then even if expenses increase a little, so long as you’re still turning a profit, who cares? Additionally, ask yourself, “What can I do to maximize my return? Can I remodel my unit and bring in an additional $5,000 annually to offset increased expenses? Can I run Google Ads to get my unit infront of more vacationers, have it rented more, increasing my occupancy and ultimately my profitability?”

Get serious in the game you’re playing. Run annual Facebook Ads to drive more views to your listing.

So long as at the end of 10 years, or the lifetime of your investment, you come clearing a great profit and you reap the benefit of all the years of appreciation, then you’ve won! Don’t let expenses increases that are marginal scare you.

Why the Flood of Inventory? Absentee Owners Equal Scared Sellers.

Many Sellers don't know how to successfully manage their units to turn a profit so rather than learn, they put their unit on the market.

Also, people that purchased before COVID have seen a significant rise in appreciation so they are selling to cash in.

Additionally, rental incomes have decline some, I emphasize SOME. Again, when the majority of oceanfront condo owners are NOT serious about managing their units because they pass it off to a property manager and forget about it, and incomes decrease a little, this scares them, and they sell.

But, for those that are serious about their investment, and manage it well, this is standard “Condo Ownership 101.”

Markets rise and fall, it's part of the game.

Naturally, some years are better than others, that's standard for any investment.

Are You the Savvy Investor that Wins?  

But for those not really understanding how to run their unit, how to maximize their occupancy and ultimately their profit, that are honestly just absentee owners, they get scared when any change happens, whether it be an insurance increase, rental demand decreases, HOA dues increase, and they their unit on the market, making room yet again for savvy investors to pick up their units at cheaper prices and win at the oceanfront condo investing game!

Call today to discuss your next Oceanfront Condo purchase in the Myrtle Beach Real Estate Market: 843-360-1737

Disclaimer: All information given is meant to be educational. I am only passing on historical information shared with me by owners, rental companies, and various publications. Additionally, I am not guaranteeing these numbers, nor can I guarantee future rentals or appreciation. This information is not intended to replace your own research, or to provide legal, investment, or financial advice. Please consult an attorney for legal advice.

For expert advice and to explore available opportunities, call 843-360-1737 today.

Coral Beach Resort

Right now, the best 1 bedroom 1 bathroom Oceanfront Condo Deal in Myrtle Beach, South Carolina is at Coral Beach Resort.

I found a 1 bedroom 1 Bathroom unit that produced $41,000 in Gross Rental Income which translates to $18,192.79 in profit for the 2023 year when purchased with cash.

Currently, there are 27 active 1 bedroom 1 bathroom units on the market in Coral Beach Resort that start as low as $119,900 and increase to as much as $202,500.

1 Bedroom units on average have appreciated as much as $90,240 in the past 9 years. That’s $10,026.67 per year in appreciation in addition to the $18,192.79 if bought with cash.

Just take a look at this 1 bedroom 1 bathroom oceanfront unit I ran numbers on for one of my clients. Now, keep in mind, this unit is already under contract.

The Numbers.

Cash Scenario.

Financing Scenario.

Appreciation.

Depreciation.

Absentee Ownership Explains the Variance in Gross Rental Income

In my opinion, any of these units can produce that same $18,192.79 in Profit. Many times, when there is a larger GRI variance at a Myrtle Beach Oceanfront Condo Resort, it is largely due to absentee owners.

Large variance in GRI in the sense that one unit produces $41,000 and another produces on $25,000 in Gross Rental Income.

Absentee in the sense that they don’t proactively manage their units well as compared to owners that are actively engaged in self-managing their units to maximize income.

Thing about it like this, if you give 100 people $10,000, 20% of them are likely to do very well in gaining a return on that money, while the other 80%, not nearly as well. This is known as the Pareto Principle, and I see it in Myrtle Beach Oceanfront Condo ownership all the time.

That’s the same reason why there tends to be a large variance in gross rental income between similar units at the same Myrtle Beach Oceanfront Condo Resort.

However, in the case of Coral Beach Resort, we don’t see larger variance. We see a smaller amount of variance to the tune of only $6,000.

That means that out of the 5 random Oceanfront Condo units I pulled GRI data on, there’s only a difference of about $6,000 in GRI between the highest and lowest Gross Rental Incomes.

Look at some of the variance in Gross Rental Income at Coral Beach Resort.

This suggest that all the units are performing pretty similarly, which to me indicates that the resort as a whole is a great resort with well-run operations, great location with plenty of demand, and excellent onsite amenities that are well maintained because in order to get such smaller variance in GRI across different units, I assume Coral Beach Resort must be getting repeat business year after year.

I say that because I doubt that all the tourists booking these units this year, just decided to book this single resort, just this year, causing all their units to perform so well. They must be gaining the benefit of small GRI variance through having excellent operations. This is encouraging so many tourists to continue booking these units, accounting for why the resort is doing so well as a whole, across so many of their oceanfront units.

If You Don’t Believe Me, Call Ashley at Coral Beach Resort!

Just yesterday, I spoke with Ashely at Coral Beach Resort as I was attempting to get into unit 1214 which one of my client’s just put under contract. Ashley let me know that ALL the oceanfront condo units are booked this Friday at the entire resort, so my client couldn’t get into the unit he wanted to see and inspect on Saturday.

All their oceanfront units are SOLD OUT! This is what you want to hear when you’re investing in an oceanfront condo at a Myrtle Beach Oceanfront Condo resort. Additionally, Ashley went on to let us know that they would stay busy through September of this year. So, if you want a particular unit by request, you’d have to wait unit then to get it.

Why is Coral Beach Resort So Great of an Investment?

The simple answer: great onsite amenities.

Coral Beach Resorts has great pools, lay out areas, water play areas for children, lazy river, arcade, fitness center, restaurant, bowling alley with pool tables, gift shop, and Starbucks!

This place is loaded with great onsite amenities that keep the 20 to 22 million tourists returning year after year, paying you to rent your Myrtle Beach Oceanfront Condo.    

Call or Text me now to discuss your next Myrtle Beach Oceanfront Condo Purchase: 843-360-1737

Contact: Brandon Kunasek, Broker

Keller Williams Innovate South

Cana Group

843-360-1737

brandonkunasek@kw.com.

Disclaimer: All information given is meant to be educational. I am only passing on historical information shared with me by owners, rental companies, and various publications. I am not guaranteeing these numbers, nor can I guarantee future rentals or appreciation. This information is not intended to replace your own research, or to provide legal, investment, or financial advice. Please consult an attorney for legal advice.

The Deal.

Windemere in North Myrtle Beach has a 4-bedroom 3-bathroom on the market for $500,000.

What’s significant about this is that the last 4-bedroom 3-bathroom in this building sold for $590,000 on 5-21-2024, and the unit that sold had a Gross Rental Income Projection of as much as $95,000+.

You can probably get this property for around $490,000. That’s $100,000 under the last comparable sell at Windemere.

It can make $67,460.60 in annual profits when purchased with cash and $32,692.60 in annual profits when purchased with financing according to the rental projection for another unit at Windemere.

You can depreciate it $18,181.82 so long as the appraised value is the same as the purchase price.

And, in the last 8 years, it appreciated $319,250! Yes, you read that correctly. That’s roughly $39,906.25 per year in appreciation!

Take a Look at the Numbers.

Cash Scenario.

Financing Scenario.

Depreciation.

Appreciation Since 2016.

The Difference in these two units: a Remodel!

The unit for $500,000 looks nothing like the unit that recently sold at $590,000.

The $500,000 unit is dated and MUST be remodeled to bring the $95,000+ Gross Rental Income.

You spend $65,000 in a remodel, you now have a unit designed to your liking, and you’re still $25,000 the richer according to the unit’s equity.

Additionally, your unit is now optimized for the next 10 years or so to reap the highest possible Gross Rental Incomes annually.

Over the course of 10 years, this could look like as much as $10,0000 per year in addition Gross Rental Income annually, because you can charge higher rents due to the remodel, which as you well know is another $100,000 at the end of 10 years.

That is an excellent example of making the most of your wins. A remodel is a simple way to increase the profitability of the money you’ve already invested. It’s like steroids for your profits. You’ve decided to invest your money in the unit, so why not do everything you can do to increase your profitability! It simply makes sense.

How do you Win with this deal?

You immediately walk into $100,000 in equity when you purchase this oceanfront condo.

You can remodel it—the way you want to design it—and increase your annual profitability.

You sell it after 5-7 years—once it appreciates—and you’ve both collected annual profits, depreciated the unit annually to reduce you’re overall tax burden, and saved some money on your vacation stay when using the unit, a unit designed just the way you want.

The Strategy for a Buyer’s Market in Myrtle Beach Oceanfront Condos.

You find super underpriced Myrtle Beach Oceanfront Condos by Seller’s that are desperate to sell, we’re talking $100,000 or so under the last comparable sell at that resort. These units are the dated ones, you remodel the unit only enough to keep equity in the unit, you’re optimized on rental income for the next 10 years or so, and then collect the profits! It’s that simple.

Call or Text me now to discuss your next Myrtle Beach Oceanfront Condo Purchase: 843-360-1737

Contact: Brandon Kunasek, Broker

Keller Williams Innovate South

Cana Group

843-360-1737

brandonkunasek@kw.com.

Disclaimer: All information given is meant to be educational. I am only passing on historical information shared with me by owners, rental companies, and various publications. I am not guaranteeing these numbers, nor can I guarantee future rentals or appreciation. This information is not intended to replace your own research, or to provide legal, investment, or financial advice. Please consult an attorney for legal advice.

Investing in real estate, particularly in HOA-managed properties, can be a lucrative venture, especially in sought-after locations like Myrtle Beach. However, for out-of-state investors, understanding the intricacies of homeowners association (HOA) budgets is crucial for making informed decisions and safeguarding their investments. In this guide, we'll explore essential metrics that out-of-state investors should consider when analyzing HOA budgets.

Operating Expenses Ratio: One of the first metrics to assess is the operating expenses ratio, which compares total operating expenses to the revenue generated by the HOA. For out-of-state investors, a lower ratio is preferable as it indicates efficient cost management and financial health within the community.

Reserve Fund Contribution: The reserve fund is crucial for funding future major repairs and replacements within the community. Out-of-state investors should examine the percentage of HOA fees allocated to the reserve fund to ensure adequate savings for long-term maintenance and improvements.

Budget Variance: Monitoring the budget variance helps identify discrepancies between budgeted and actual expenses. This metric provides valuable insights into spending patterns and allows investors to address potential overspending or unexpected costs effectively.

Delinquency Rate: The delinquency rate, which measures the percentage of homeowners behind on their HOA fees, is a vital indicator of cash flow and collections effectiveness. Out-of-state investors should pay attention to this metric to assess the financial stability of the community.

Capital Improvement Projects: Understanding how funds are allocated towards capital improvement projects is essential for assessing the long-term value and appeal of the property. Investors should evaluate the impact of these projects on property values and resident satisfaction.

Emergency Fund: Having an emergency fund in place is crucial for handling unexpected expenses or emergencies such as natural disasters. Out-of-state investors should ensure that the HOA has set aside funds for such scenarios to protect their investments.

Professional Management Fees: Assessing the portion of the budget allocated to professional management services provides insights into the association's reliance on external expertise. Investors should evaluate the effectiveness of management practices and their impact on overall financial management.

Budget History: Reviewing historical budget data allows investors to identify trends, patterns, and areas for improvement in budgeting and financial management practices. This insight is valuable for making informed decisions and optimizing investment strategies.

For out-of-state investors considering investing in HOA-managed properties, understanding key metrics for analyzing HOA budgets is essential. By evaluating operating expenses ratios, reserve fund contributions, budget variances, delinquency rates, capital improvement projects, emergency funds, professional management fees, and budget history, investors can make informed decisions to safeguard their investments and ensure long-term financial stability within the community.

Call today to discuss your next Oceanfront Condo purchase in the Myrtle Beach Real Estate Market: 843-360-1737

Disclaimer: All information given is meant to be educational. I am only passing on historical information shared with me by owners, rental companies, and various publications. I am not guaranteeing these numbers, nor can I guarantee future rentals or appreciation. This information is not intended to replace your own research, or to provide legal, investment, or financial advice. Please consult an attorney for legal advice.

Have Your Broker Send You the Meeting Minutes and Budgets.

Always review the meeting minutes before buying an oceanfront condo at a beach resort. Now, here’s one thing you MUST find under the finance section of the most recent meeting minutes, a statement like this:

“On page 22 of the handout Mr. Wheeler stated that the certified audits have always come back favorable.”

This is SUPER important because it helps to ensure the financial health, compliance with regulations, and governance practices of the HOA governing the Oceanfront Condo Resort you’re about to buy into. This level of transparency helps maintain trust within the community of owners at the Oceanfront Condo Resort.

Once You See How a Certified Audit Works, You’ll Understand Why It’s Important.  

Certified audits of HOA (Homeowners Association) financials are conducted by independent certified public accountants (CPAs) to provide assurance about the accuracy and completeness of the association's financial statements. Here's how they typically work:

Engagement Agreement: The HOA hires a CPA firm to perform an audit of its financial statements. An engagement letter is typically drafted, outlining the scope of the audit, the responsibilities of both parties, and the agreed-upon fee.

Planning Phase: The CPA firm conducts an initial meeting with the HOA's board or finance committee to understand the association's operations, risks, and financial reporting requirements. They assess the internal controls in place and identify areas of potential risk or material misstatement.

Fieldwork: The CPA firm collects and examines evidence to support the amounts and disclosures in the HOA's financial statements. This may involve testing transactions, verifying account balances, reviewing contracts and agreements, and confirming balances with third parties such as banks and vendors. They also assess compliance with relevant accounting standards and regulatory requirements.

Reporting Phase: Once the fieldwork is complete, the CPA firm prepares a report summarizing their findings. This report typically includes:

1.    An opinion on whether the financial statements are presented fairly, in all material respects, in accordance with generally accepted accounting principles (GAAP) or another applicable financial reporting framework.

2.    An assessment of the HOA's compliance with relevant laws, regulations, and governing documents.

3.    Any significant findings or recommendations for improvement identified during the audit.

Communication with the Board: The CPA firm presents the audit findings and report to the HOA's board or finance committee. They may also provide recommendations for strengthening internal controls, improving financial reporting processes, or addressing any areas of concern identified during the audit.

Filing and Distribution: The audited financial statements, along with the CPA firm's report, are typically distributed to the HOA's members and may also be submitted to regulatory authorities or lenders as required.

Follow-up and Action: The HOA's board or finance committee reviews the audit findings and recommendations and takes appropriate action to address any issues identified. They may implement changes to internal controls, financial reporting processes, or operational procedures based on the CPA firm's recommendations.

Overall, certified audits of HOA financials provide transparency and assurance to members regarding the association's financial health, compliance with regulations, and governance practices. They help maintain trust and accountability within the community and support informed decision-making by the HOA's leadership.

Call today to discuss your next Oceanfront Condo purchase in the Myrtle Beach Real Estate Market: 843-360-1737

Disclaimer: All information given is meant to be educational. I am only passing on historical information shared with me by owners, rental companies, and various publications. I am not guaranteeing these numbers, nor can I guarantee future rentals or appreciation. This information is not intended to replace your own research, or to provide legal, investment, or financial advice. Please consult an attorney for legal advice.

Evaluating a homeowners association (HOA) before buying a condominium, especially one on the oceanfront, is crucial as it can significantly impact your living experience and financial obligations. Here are some steps to help you evaluate an HOA:

Review the HOA Documents: Request copies of the HOA's governing documents, including the declaration of covenants, conditions, and restrictions (CC&Rs), bylaws, rules and regulations, meeting minutes, financial statements, and reserve study. These documents will outline the rights, responsibilities, and restrictions of both the HOA and its members.

Financial Health: Examine the HOA's financial statements to ensure it is financially stable. Look for reserve funds, operating budgets, past dues collection rates, and any pending or recent special assessments. Adequate reserves are crucial, especially for oceanfront properties that may be prone to weather-related damages.

Insurance Coverage: Verify the extent and adequacy of the HOA's insurance coverage, including general liability, property, and directors and officers (D&O) liability insurance. Ensure that the coverage is comprehensive enough to handle potential risks associated with oceanfront properties.

Maintenance and Upkeep: Assess the HOA's track record in maintaining and repairing common areas, including the exterior of the buildings, landscaping, amenities, and oceanfront features such as seawalls or beach access points. Look for any pending or planned maintenance projects and how they're funded.

Reserve Fund Study: Review the reserve study, which evaluates the long-term capital needs of the HOA and determines whether the reserve fund is adequate to cover future repairs and replacements. This is particularly important for oceanfront properties, which may have unique maintenance requirements due to exposure to saltwater and harsh weather conditions.

Rules and Regulations: Understand the HOA's rules and regulations regarding property use, noise restrictions, pet policies, rental restrictions, architectural guidelines, and any other regulations that may affect your lifestyle or investment plans.

Community Reputation: Speak with current residents or neighbors to gauge their satisfaction with the HOA management, community atmosphere, and any ongoing issues or disputes. Online forums or social media groups can also provide insights into the community's dynamics.

Management Quality: Assess the competence and responsiveness of the HOA's management company or board of directors. Look for any history of mismanagement, conflicts of interest, or legal disputes.

Future Assessments and Projects: Inquire about any planned or anticipated assessments, renovations, or construction projects that may affect your financial obligations or living conditions in the future.

Legal Compliance: Ensure that the HOA is compliant with all relevant state and local laws, including regulations specific to coastal areas, such as environmental regulations or zoning laws.

Your Action List.

·      Make sure the HOA has a Certified Audit of its financials.

·      Make sure resort does not allow construction during Peak Season.

·      Make sure HOA Reserves can offset Special Assessment Expenses

·      Make sure HOA Budget Revenues exceed Expenses.

·      If buying into Resort with major projects, get a bargain. 

By thoroughly evaluating these aspects of the HOA before purchasing an oceanfront condo, you can make an informed decision and minimize potential risks and surprises associated with living in a managed community.

Call today to discuss your next Oceanfront Condo purchase in the Myrtle Beach Real Estate Market: 843-360-1737

Disclaimer: All information given is meant to be educational. I am only passing on historical information shared with me by owners, rental companies, and various publications. I am not guaranteeing these numbers, nor can I guarantee future rentals or appreciation. This information is not intended to replace your own research, or to provide legal, investment, or financial advice. Please consult an attorney for legal advice.

About Ocean Reef Resort

Located at 7100 Ocean Blvd. N, Myrtle Beach, SC 29572, Ocean Reef Resort in Myrtle Beach, SC, is renowned for its prime oceanfront location, luxurious accommodations, and extensive array of amenities catering to families and vacationers.

Some of its notable features include:

Oceanfront Access: The resort boasts direct access to Myrtle Beach's sandy shoreline, allowing guests to enjoy the beauty of the Atlantic Ocean right at their doorstep.

Luxurious Accommodations include spacious suites to cozy rooms, all designed to provide comfort and relaxation for guests during their stay.

Amenities: The resort features a variety of amenities to enhance guests' experience, including multiple pools (indoor and outdoor), a water park with slides and splash areas, hot tubs, a fitness center, and on-site dining options.

Family-Friendly Environment: With activities and facilities catering to families, Ocean Reef is known for providing a fun and enjoyable vacation experience for guests of all ages.

Hospitality and Service: The resort is praised for its attentive staff and excellent customer service, ensuring that guests feel welcomed and well-cared-for throughout their stay.

One Reviewer said, “Very nice stay. Employees were awesome!”

Overall, Ocean Reef Resort in Myrtle Beach is celebrated for offering a comprehensive vacation experience, combining relaxation, entertainment, and seaside luxury.

The Resort has 3 sections:

Ocean Reef Resort North Tower

Ocean Reef Resort North Tower Penthouse II

Ocean Reef South Tower

Unit 1126 is located in Ocean Reef North Tower PH II.

Units Range from Efficiency to 4-bedrooms, having both oceanfront and Oceanview units, and offer square footage as low as 307 square feet and as high as 1,940 square feet.

While smaller units may be perfect for couples, larger units that have expansive multi-bedroom layouts could be ideal for families and larger groups.

About Oceanfront Condo Unit 1126.

Welcome to your slice of coastal paradise at 7100 Ocean Blvd. N, Myrtle Beach, SC 29572– an investor's dream! Introducing an exquisite corner oceanfront condominium perched on the 11th floor of the renowned Ocean Reef Resort along Myrtle Beach's Golden Mile. Revel in uninterrupted ocean views from every angle in this immaculate unit, boasting fresh carpeting, stylish furnishings, and coastal décor. Floor-to-ceiling windows flood the living area and master bedroom with natural light, while a sprawling wrap-around balcony invites you to soak in the splendor of the Atlantic Coast. With a plethora of amenities including indoor/outdoor pools, a water park, and fitness facilities, this condo is the epitome of luxury beach living.

Accommodation & Amenities.

Accommodations vary by room type but some include Alarm Clock, 2 TVs, Coffee Maker, Complimentary Wi-Fi, Dining Table, Washer and Dryer, Free In-Room Coffee, Hair Dryer, Iron & Ironing Board, In-Room Safe, Kitchen, Private Balcony, Sleeper Sofa.

Ocean Reef Resort in Myrtle Beach, SC, features an onsite restaurant called "Cafe du Port." This restaurant offers a variety of dining options, including breakfast, lunch, and dinner, with a focus on coastal cuisine. Guests can enjoy both indoor and outdoor seating, with views of the ocean adding to the dining experience.

Guests enjoy indoor and outdoor pools, water park, fitness center, on-site dining, direct beach access, kid-friendly activities, business center, meeting spaces, laundry facilities, free Wi-Fi, concierge services, parking facilities.

Onsite Vs Offsite Property Management

Some Oceanfront Resorts won’t allow an owner’s tenants to use onsite amenities if the owner uses offsite property management. However, at Ocean Reef Resort, even if you use offsite property management, your tenants can use the amenities.

What does the HOA Include?

The HOA includes Electric Common, Water and Sewer, Trash Pickup, Elevator Service, Pool Service, Landscape/Lawn, Insurance, Manager, Common Maint/Repair, Electric In Unit, Internet Access, Pest Control.

How Does the Location Serve My Guests?

What's nearby

Grande Dunes Marketplace - 3 min drive

Myrtle Beach Boardwalk - 7 min drive

Broadway at the Beach - 7 min drive

Myrtle Beach Convention Center - 7 min drive

Apache Pier - 8 min drive

Airport

Myrtle Beach Intl. Airport (MYR) - 19 min drive

Restaurants

Starbucks - 2 min drive

Fiesta Mexicana - 6 min walk

River City Cafe - 3 min walk

McDonald's - 2 min drive

Mango's On The Beach - 5 min walk

Golf

8 Minutes from Top Golf

12 Minutes from River Oaks Golf Club

13 Minutes from Myrtlewood Golf Club

14 Minutes from World Tour Golf Links

Other Attractions

3 Minutes from Family Kingdom

12 Minutes from Medieval Times Dinner and Tournament

12 Minutes from Market Common/Savannah’s Playground

10 Minutes from Coastal Grand Mall, Costco, and Best Buy

10 Minutes from Springmaid Pier

16 Minutes from Pirates Voyage

Groceries

8 Minutes from Walmart Supercenter

4 Minutes from Publix

Shopping

14 Minutes from Tanger Outlets

Medical

16 Minutes from Grand Strand Medical Center

How Do My Guest Navigate the Area?

Take Bus 17 North to reach North Myrtle Beach and Little River

Take Bus 17 South to reach Surfside Beach, Garden City, Murrells Inlet and Pawleys Island.

Take Bus 17 to Hwy 501 to go inland towards Forestbrook (14 Minutes), Pine Island (15 Minutes), or Carolina Forest (25 Minutes) Communities to reach Conway, SC (32 Minutes)

Take Hwy 501 to Hwy 31 and go north to reach Carolina Forest and North Myrtle Beach

Take Hwy 501 to Hwy 31 and go south to reach Socastee

Take Hwy 501 to Hwy 17 Bypass South to reach Garden City and Murrells Inlet

Take Hwy 501 to Hwy 17 Bypass North to merge into Bus 17 and reach North Myrtle Beach and Little River

Depreciation.

Assuming that the purchase price of Unit 1126 is the same as the appraised value at $590,000, when this appraised value is divided over 27.5 years for depreciation, this gives you an annual taxable income deduction of $21,454.55 for this rental property.  If that doesn’t get you excited, just wait until you see how this unit has appreciated!

How did Ocean Reef Appreciate?

In 2014, the average unit across all types had a purchase price of $146,029. In 2023, the average unit across all types had a purchase price of $198,917. This an increase in appreciated value of $52,888. In the last 10 years, Ocean Reef across all unit types appreciated 36%.

However, in 2014, a 4-bedroom unit had a purchase price of $280,000. In 2023, a 4-bedroom had a purchase price of $590,000. This an increase in appreciated value of $280,000. In the last 10 years, Ocean Reef appreciated 74%.

What are Occupancy Rates Like in Myrtle Beach South Carolina?

Currently, there’s plenty of room to increase the profitability of your rental property by increasing your annual occupancy. Let’s take a look at how 4-bedroom rental properties perform across all property types in Myrtle Beach, SC and then compare 4-bedroom units across all property types in Myrtle Beach, SC to Oceanfront Condo unit 1126.

4 Bedroom Units Across All Property Types

The average 4-bedroom rental in our market across all property types averages 145 nights booked, which is 42% of the year, has a daily average rental rate of $312 and brings in between $56,082 and $77,428 each year in Gross Rental Income. 4-Bedroom rental properties make up only 6% of the Myrtle Beach South Carolina rental market. There’s not nearly as many 4-bedroom units in our market as the 1, 2, and 3-bedroom oceanfront units, and when supply is lower, you can expect to pay more for these units.

All Rental Types Compared to Oceanfront Condo Unit 1126

The 2023 Avg Gross Rental Income for Unit 1126 is $104,400.12. By investing in Oceanfront Condo Unit 1126, compared to all types of rentals in Myrtle Beach South Carolina, you come out making atleast $26,972.12 more but could stand to make as much as $48,318.12. It’s clear to me that Oceanfront Condos are the way to go in our market.

Which unit type should I invest in?

The top performers in our market were a 3-bedroom unit that booked 272 nights and a 4-bedroom that had an average daily rate of $501 according to Evolve property management. However, this question is much larger than occupancy and average daily rate. Are you playing the appreciation game or the income game? Are you more interested in how well the property appreciates so that when you sell it you can maximize on the increased value or are you interested in a property that generates great projected profitability annually so that you can bolster your current income? This is one of the initial steps to understanding which oceanfront condo is right for you.

Offer Vacation Packages to Increase Occupancy.

It’s simple. Just offer three different vacation packages to your tenants. One at $500, one at $1000, and one at $1500 and then fill those vacation packages with gift cards to the best restaurants, paid for attractions like shows, local events, and concerts, and even include more concierge options like rose pedals, bath robes, and gifts for him and her.  You’ll most likely find that your tenants will be thrilled that you put this level of work into their vacation, they’ll gladly pay the convenience fee of each package, and most importantly, want to return year after year.

What’s this do for you? Repeat and Loyal Business.

You’re more likely to have satisfied and therefore repeat customers who will rent your property year in and you’re out, repeatedly. Two-things impact your rental business because of the yearly repeat tenants: you can successively build your Gross Rental Income (GRI) each year upon the next year—growing your book of business—and, due to the loyalty of your tenants, you may be insulated from the ups and downs of the rental market. In other words, if the rental market has a bad year overall, because your tenants are loyal, you may not see a significant reduction in Gross Rental Income. They very well could choose to cut expenses elsewhere in their budget because they just don’t want to give up their dream vacation, even when the economy struggles along.

Run Facebook Ads Targeting Groups that Visit Our Market for Local Events and Golf.

Here are my picks for your top 4 groups to run Facebook Ads to in order to increase your occupancy:

1.    Golfers. Myrtle Beach has over 90 Golf Courses. Spring time is when golfers begin arriving.

2.    Marathon Runners. Myrtle Beach Marathon: Held typically in late February or early March, this event attracts runners from all over the country. It includes a full marathon, half marathon, and other races.

3.    Country Music Lovers. Carolina Country Music Fest: Held in June, this multi-day music festival features some of the biggest names in country music performing on stages set up along the Myrtle Beach Boardwalk.

4.    Bikers. Myrtle Beach Bike Week: Both spring and fall editions of Bike Week attract motorcycle enthusiasts to the area for rallies, rides, and entertainment.

Do I Buy an Oceanfront Condo as a Second Home or Investment Property?

Buying as a Second Home.

If you buy as a Second Home, you cannot rent the property more than 180 days each year.

You must occupy the property 3 weeks out of the year

You must qualify with current and new housing costs

Primary Residence can’t be within 75 miles of the Second Home

If you do buy as a second home, you should get a better interest rate and lower down payment.

Buying as an Investment Property.

If you buy as an Investment Property, you can rent the property for more than 180 days each year.

You do not have to occupy the property.

You may not have to qualify with current and new housing costs if the property has historical rental income.

When you buy as an investment property, you will have to pay personal property taxes on the furnishings in your unit.

If you buy as an Investment Property, you won’t get as good of an interest rate, and you’ll have a higher down payment, but you have the option of doing a 1031 Like-kind exchange.

Remodeling.

A smart approach for many investors is to buy a dated Oceanfront Condo for cheaper than market price, a unit that needs remodeling, and then remodel the unit so that it maximizes Gross Rental Income. When prospective tenants are searching online for the best vacation rentals, they’re more likely to choose the nicest, more updated units when comparing rentals.

Several things increase the desirability of the unit for tenants such a LVP flooring, fresh paint, new fixtures and faucets, backsplash, barnyard doors, wainscoting, fireplace inserts, flat screen Tv’s, and new furniture to name a few. You might even consider leaving a telescope on the balcony so that your guests can enjoy the stars.

I had a client once that listed their property with a different agent before me and couldn’t get it sold. Based on feedback from showings after the property was listed with me, we remodeled the unit. The property went under contract in only 23 days after the remodel, when before it wouldn’t sell.

For more information, please Click Here.

Ocean Reef Market Report.

This Market Report is as of 03-30-2023.

Active Properties.

31 Active

Average Price: $226,618

Average Days on Market: 127 days

Sellers are more likely to reduce their price due to high competition.

Under Contract.

0 Properties Under Contract

Sold Properties.

12 Properties Sold in last 6 months

Average Price: $190,083

Average Days on Market: 110 days

Properties are selling so don’t let another buyer get the best deal on the condo you want.

For current information, please Click Here.

Click Here for More information on Ocean Reef.

What is the Projected Profitability for these Units?

In 2023, this 4 Bedroom Oceanfront unit at Ocean Reef Resort brought in an Average Gross Rental Income of $104,400.12.

Paying with Cash.

As of 2023, this 4 Bedroom Oceanfront unit generated $104,400.12 in Gross Rental income. If using a property manager that charges 10%, your expense should be $10,440.01 which brings you to a subtotal of $93,960.11 after property management fees are paid.

With estimated taxes—based on 2020—at $5,316.35, cleaning services—based on 27 bookings annually at $250 per cleaning—at $6,750, and annualized HOA dues at $31,080, your estimated expenses are $45,146.35.

Subtracting from your subtotal (after property management fees) of $93,960.11, for your total estimated expenses of $45,146.35, your projected profit is $50,813.76.

Paying with Financing.

As of 2023, this 4 Bedroom Oceanfront unit generated $104,400.12 in Gross Rental income. If using a property manager that charges 10%, your expense should be $10,440.01 which brings you to a subtotal of $93,960.11 after property management fees are paid.

At a purchase price of $590,000, your 15% down payment is $88,500. Assuming an 8.24 interest rate for 30 years with a down payment of 15%, your principal and interest totals $46,668. With estimated taxes—based on 2020—at $5,316.35, cleaning services—based on 27 bookings annually—at $6,750, and annualized HOA dues at $31,080, your estimated expenses are $89,814.35.

Subtracting from your subtotal (after property management fees) of $93,960.11, for your total estimated expenses of $89,814.35, your projected profit is $4,145.76. Ocean Reef 4-bedroom Oceanfront Condos are some of the rare “Unicorns” that yield a projected profit even when financing!

Call today to discuss your next Oceanfront Condo purchase in the Myrtle Beach Real Estate Market: 843-360-1737

Disclaimer: All information given is meant to be educational. I am only passing on historical information shared with me by owners, rental companies, and various publications. I am not guaranteeing these numbers, nor can I guarantee future rentals or appreciation. This information is not intended to replace your own research, or to provide legal, investment, or financial advice. Please consult an attorney for legal advice.