The lure of the beach hasn’t gone away for most travelers. No matter what the economy, people still need to get away and relax – bad economic times even increase this desire. Because of this I have to ask “Is it getting harder to leave when your vacation is over?” Does owning a property that pays in dividends like family fun and relaxation in addition to bringing in revenue to cover your expenses appeal to you? There is no better time than now to buy a Myrtle Beach condo rental property – many successful investors have been waiting for over a decade for times such as these.
Did you realize that income from your condo rental property could even fund your vacation? And when it comes time to schedule your vacation, you will be going to your home away from home.
Low interest rates combined with low prices have made purchasing a vacation condo rental even more affordable. The sales figures for condominiums actually rose in 2011 and there is no indication they will slow down soon. The lower interest rates are attracting retiring adults as well as first time home buyers.
Diversity In Myrtle Beach Condo Rental Property
In any beach community there are many types of condo rental properties from which to choose. There are what are referred to as condotels which are hotel-style condos, beachfront homes, condos on golf courses or even the intercoastal waterway. Young families realize that condo rental properties offer a great source of income while at the same time offering a great place for fun filled family vacations. With condo rental properties there is a wide variety of layouts from which to choose.
Because of the limited oceanfront, condo rental property on the beach is extremely valuable. You can build a golf course almost anywhere, but there is only so much beachfront property.
Ease of Living On The Ocean
The primary reason that Myrtle Beach condo rental property on the ocean has remained strong is because people of all ages enjoy the care free living style. At some point we take a look at what is important and ask ourselves if we would rather spend our time mowing the grass or relaxing by the pool?
Many new homeowners are looking at the quality of life and enjoy that exercise rooms, restaurants and relaxation await right outside the door of a an oceanfront condo. They don’t have to worry about maintaining their surroundings or spending time on maintenance. With a condo rental property everyone shares in the cost of building and grounds maintenance freeing you up for other endeavors.
Now Is The Time
There are over 77 million baby boomers that will be reaching retirement age in the near future. This is a generation with disposable income and they are waiting to enjoy it. Take a look at any retirement brochure and you will see a couple enjoying the beach. These are your potential renters and they will spend their retirement savings regardless of the economy. Many of these retirees are snatching up good deals right now in preparation for retirement.
It is no secret that in the Myrtle Beach area you can buy oceanfront or golf course condo rental property at some of the lowest prices in history. This is a window of opportunity that won’t stay open forever. Many people come to us asking advice and one of their primary questions is always “Is now a good time to buy?” Interest rates are the lowest they have been since the 1950s. Cash flow has never been better with the current rate of rental income. There will be a lot of people who look back on this time and realize they let a great opportunity pass them by – will this be you?
At JP Real Estate Experts our door is always open. Stop by and ask your tough questions. Will you be the one who let this great time pass you by or will you be the one profiting from a Myrtle Beach condo rental property?
Jerry Pinkas Real Estate Experts
604 N. 27th Ave, Myrtle Beach, South Carolina 29577
This article is a recap from just one of the chapters n The New Rise In Real Estate featuring Jerry Pinkas.