🏢Condo market inventory in Myrtle Beach has significantly increased over the past two years.
💰Sellers of oceanfront condos are capitalizing on appreciation and equity gains.
📉Increased competition has driven down prices in the market.
🏨The Ocean Reef unit in Myrtle Beach generated over $104,000 in gross rental income.
🔍Using a property manager like Evolve can help maximize profits in rental investments.
How has condo inventory changed in Myrtle Beach?
—Condo inventory has increased significantly over the past two years, leading to more options for buyers.
Why are oceanfront condo owners selling their units?
—Owners are taking advantage of the appreciation and equity gains in their properties.
How has increased competition affected condo prices?
—Increased competition has led to lowered prices in the market.
How much rental income can a condo in the Ocean Reef generate?
—The Ocean Reef unit in Myrtle Beach grossed over $104,000 in rental income last year.
How can property managers help maximize profits in rental investments?
—Property managers like Evolve can handle property management tasks and ensure optimal rental income.
00:00This video provides a comprehensive update on the condo market in Myrtle Beach, South Carolina.
00:32Condo inventory has significantly increased in the past two years, leading to more options for buyers.
01:32Sellers of oceanfront condos in Myrtle Beach are capitalizing on appreciation and equity gains.
02:11Increased competition in the market has driven down condo prices.
02:38The Ocean Reef unit in Myrtle Beach has generated over $104,000 in gross rental income.
03:00Using a property manager like Evolve can help maximize profits in rental investments.
04:30The total expenses for the Ocean Reef unit, including mortgage, taxes, insurance, and HOA fees, amount to $85,686.35.
05:06The estimated insurance cost for an oceanfront condo is around $2,000.
