Ocean front condo or golf condo! It really depends on your needs and financial ability. It is very difficult right now to obtain financing on condos that are considered condotels (condos with reservation desk like in a hotel). There are some great deals on both. On the positive side ocean front condos get higher rent but also have much higher HOA fees. The positive side for golf condos are you can get a larger condo for the money with a much lower HOA fee. If you are buying a golf condo for investment, make sure they have an on site rental company for your renters convenience.

Myrtle Beach Oceanfront Condo or Myrtle Beach Golf Condo?

That just depends on what you are looking for in an investment! If you are looking for rental income to cover more of your expenses, just ask your self a few questions: If someone was going to Myrtle beach for a vacation, Where would they stay? An Oceanfront Condo or a Golf Condo? 9 times out of 10 your potential renter would choose an oceanfront condo. Just think like the average vacationer. You can get a great view of the ocean and beach, use the many amenities on site from the resort, pools, hot tubs, tiki bar, on site restaurants or any other amenities.

Of course if you like to play golf, you can still play any of the area golf courses. When the game is over you can come back to the beach to relax.

It is also about lifestyle and what your plans are for the use of you're investment property. Are you going to use it purely as a rental investment without ever using it personally? Or are you are going to use the unit a little more, you may want to consider a golf condo. Or is a combination of both? Each one of these will determine different complexes and resorts to consider.

There are many things to consider when you are looking at in investment property at the beach. What is included, or not included in the homeowners assoc fees. Some complexes have everything including insurance, water, and electric included. If someone wants to rent an oceanfront condo and wants to keep the sliding glass door open and listen to the waves while your air conditioning is rolling out the door, this is something to think about. If someone likes to take 3 showers a day, if the water is included in the assoc. fees, that could make a big difference on your bottom line for your investment.

Rental income history will also play a big part of your return on investment. Of course no one has a crystal ball to predict the future, but past rental income can come close. Some buildings and resorts perform much better than average. And if you are the one making the investment, who wants average!

Location, as well as what the property is located close to, or what it is not located close to will have a direct influence on potential rental income / investment.

Positions in the complex may have an influence on potential rentals. End unit? High Floor? Low Floor? Each building has its own dynamics and will affect the potential return on investment. Some renters are afraid of heights and want a low floor which may give better rental income. So renters may want a high floor because they want to see the furthest distance, which may give better rental income. But keep in mind it is all about the dynamics of each particular resort.

I would also highly recommend working with a Realtor that is the pro at these types of properties. Someone who is at the top of the game can give you much more information, point you in the right direction, and can make the difference between average and a well above average investment.

The Jerry Pinkas Condo Selling Team reports that Myrtle Beach Real Estate has recently been selling at a brisk pace. Some of the best deals on Foreclosures and Motivated Sellers have been going quick. We are seeing multiple offers coming in. Many buyers are now fighting to the best deals.You can get a jump on the competition with a Bank Owned Property Alert Service. You can sign up to receive new alerts as these properties hit the market. Its a good way to get a jump on the bidding completion for the very best properties. "Some great deals are currently being made" says Jerry Pinkas, "when you factor in the potential rental income and the current pricing, many buyers are finding the purchase of vacation condo or second home now more affordable for the average person."

Jerry Pinkas Home Selling Team - is your local expert in all your Real Estate needs in the Myrtle Beach Area. Our Team is dedicated to inform our clients on how to be a pro in the local real estate market and avoid common pitfalls that are costly. You will have access to the most comprehensive MLS Listing Service in the area with Free access and with lots of tools for both Buyers and Sellers. Award Winning – Top Ranked – Highly Recommended – Call The Pros - Google or call (843) 222-1926; Put our team to work for you today.

Hi, Everything depends on your reason for buying and what your needs are. Is this going to be a primary resident, 2nd home or investment property. Both are great locations.
If we can help you find a property, please give us a call.
Ron & Diane Strickland
Strickland Appraisal & Realty Inc
843-947-0101
843-947-9684

I always giggle when this question comes up. It's not as easy to answer as it sounds. It really all depends on the financial of each particular property and which location it is at. When I say location, I mean which end of the beach and what course it's on.
Feel free to contact me if you'd like more of my opinion. I truly enjoy discussing the differences, pro's and con's of each.
sherreethompson@yahoo.com
(843) 315-0226

hi Ovid,

if youre shopping around, i am an owner of 3 condos down in the area. all are within 1-2 years of age. i myself invested back in 2005 right before the peak.
im looking to unload some of properties. if interested contact me to discuss. have on beach area condo, and 2 golf condos. all are 3 bedroom 1200sqft plus.
i currently have a 6 month lease, and two 1 yr leases in the properties since the rentals have really slowed down over past year.
definitely selling for below market, call or email if interested.

greg

grose614@gmail.com

646 221 8765

Hello Ovid. I hope you are doing well. You have some really good answers here. There are a few factors that need to be considered: do you plan on any personal use, will you be paying cash or obtaining financing, what are your investment goals- long term hold/short term hold. Without knowing these things it is very difficlut to answer your question. People "invest" in Real Estate for many reasons and there is no clear cut winner in our market. Golf condos can be a great value at this point since prices are down on average 25%. Golf condos can offer a more relaxing environment. Some can be rented long term and short term providing owner use and the ability to off set some of your costs. Most golf condos have lower monthly POA fees and insurance costs. With that being said, Oceanfront condos can produce higher "gross" rental income and can also be used by the owner. Unfortunately there are no gaurantees that you will recieve any rent so you have to be prepared to pay for either type of unit each month. It is not likely but it is possible. Alos, oceanfornt condo prices are down more than 50% of the high point and the cost to own them are down as well. Now you have a few different opinions. The hard part is sorting through all of the available inventory. If you need any help, feel free to contact me. Good luck with your decision!


Cory Van Note, ABR®

Coastal Sands Realty

(843)446-7927 -main

(866)338-1246 -toll free

cory@coastalsands.com

Ask yourself: Can I carry the expenses (mortgage, HOA, any special assessments and monthly management fees) for an oceanfront condo during the off season? Also consider that while the rents are much higher in the peak season, there are many days and even weeks with no rental income. And something else......most rental management offices charge between 40-60% to manage your oceanfront property and advertise for tenants. An oceanfront investment property is not very often a positive cash flow opportunity. Historically, appreciation was been the key ingredient and with oceanfront property prices being at a near record low ~ perhaps you could purchase a property that has the potential for appreciation over the next few years. As for golf course condos, we remain a strong destination for golfers. I invite you to contact me - Marylyn Smith, Exit Grand Strand Properties - 843-450-5005 or feel free to visit my web site at http://www.MSmith.ExitGrandStrand.com where you can surf around and have unlimited access to EVERY property for sale in Myrtle Beach and surrounding areas. My web site runs in real time 24/7 and updates minute by minute.

An ocean front investment has historically brought in higher rental income and higher appreciation. Do not consider a golf course property because it would NOT be your best investment if you want rent and potential for the highest appreciation.

Also, if you want to be able to use your property when it isn't rented, you can use it 10% of the gross rental days or 2 weeks every year, whichever is greater. If you buy a golf course condo, they don't rent as well as ocean front so you would have more days of use if you bought ocean front in a property that does better rental income than others.

An ocean front one bedroom in a resort that historically has produced the highest rental income (dollar for dollar invested) is currently available as a short sale for $92,000!!!! That could produce NET rents for you of approximately $13,000 per year. I can back up that rental figure for hard data for your verification.

Financing on an oceanfront condo under 600 heated feet requires a non conventional loan and there are only a few sources currently writing that program.

Investors don't buy our property for cash flow. They buy for the potential for future appreciation. When you factor in the appreciation, the potential return for the dollars invested are very good right now.

I am a Certified Resort and 2nd Home Property specialist. I know the rental incomes and expenses involved for all ocean front properties. I know them for golf course properties too but if I showed you the numbers side by side, chances are that you would see why ocean front is better.

Email me or call me and I can talk to you for 20 minutes and cover all the basics for investing in the Myrtle Beach area.

Susie Axt, Broker
Bluewater Properties http://www.MyrtleBeachDreaming.com
Toll Free: 866-308-5788

Your question is too broad to give a standard answer. It depends on what type of investment you are talking about. Are you looking for long term investment for appreciation or rental income? Your price range is also going to play a part in which way I would advise you to proceed. What I can tell you is that the market is saturated with both ocean front and golf course properties and that pricing is extremely low along with very low interest rates, making it a great time to purchase. Please contact me directly and let me know what you are thinking, and I can help guide you in the direction that would be your best choice. I am a Realtor with Coldwell Banker Chicora, the largest real estate company on the strand. You can email me at nancyrichardson@chicora.net or call my cell 843-455-5474.