Best real estate investment North Carolina or South Carolina?

Asked by Patti Smith, Port Charlotte, FL Thu Sep 6, 2007

I am looking to buy a condo to rent out, hold for about 3 years and sell for a profit. I am looking along the border of North and South Carolina - Calabash NC to south of Myrtle Beach SC. I want it to be near the beach. I am trying to find out what the difference in taxes and insurance is between the 2 areas, which area will bring higher rent and rent best, which area is sited for the most growth and which has the best employment potential.

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6
Darren Wooda…, Agent, Murrells Inlet, SC
Thu Sep 6, 2007
Hey psmith:

I work for Coldwell Banker Chicora, "#1 Coldwell Banker in South Carolina" in Myrtle Beach. I am not licensed in North Carolina, but I am very knowledgeable about condos in the Myrtle Beach Area. There are thousands of condos to choose from close to the beach in our area. From a rental stand point, I would buy something in what is called the "Golden Mile" section. This area is from 48th Avenue North to 82nd Avenue North. Most of these condo complexes see all four of our rental groups 1)Seasonal Tourists "From Memorial Day to Labor Day", 2)Snowbirds, 3)Golfers, and 4)Conventions-most condos complexes have some sort of Convention Facilities. This part of Myrtle Beach is where you can expect more rentals. Keep in mind that there are many other factors involved. Email me directly and I will be more than happy to tell you about all of the expenses that will be involved. Darren Woodard, Coldwell Banker Chicora 843-267-4627 or darrenwoodard@chicora.net
1 vote
Lee Taylor, Agent, Charleston, SC
Fri Sep 7, 2007
Here is a link to a condo I have for sale. Just a few miles from the beach. Charleston SC
0 votes
Heather, , Burlington, WI
Thu Sep 6, 2007
Another new community featuring luxury condos that's in construction right now is The Yacht Club at Belle Isle. It's right on the Intracoastal Waterway, overlooking Winyah Bay super close to historic Georgetown, which not only offers rich history but also great boating and fishing and other water sports. Amenities include an 80 slip marina, tennis courts, pool, hiking trails, private beach house and a lot more. Check out this YouTube video and the web reference below to learn more about this unique piece of property!
http://www.youtube.com/watch?v=mGhxSjtyvc4
0 votes
Josh Watts, , Mount Pleasant, SC
Thu Sep 6, 2007
Please contact me for the ABSOLUTELY best investment in SC...not in the Myrtle Beach area but coastal and much more to offer from a view/upside standpoint.

Call me at 843-478-8228
Josh Watts
Managing Partner
CCim Candidate
Sandlapper Real Estate Group
jwatts@sandlappergroup.com
0 votes
Laura Bunts, Agent, Surfside Beach, SC
Thu Sep 6, 2007
Hey There P. Smith,

As my colleague has mentioned, there are virtually thousands of condo communities on the South & North end that are located on or close to the beach that do extremely well in both weekly and off season rentals.

Having had only positive experiences investing in the single family market in this area over the past 10 years , I personally conducted an extensive amount of research before making my own personal investment purchase in the condo market last year and feel very fortunate that I made the decision I did with regard to price, rentability, and lifestyle for an overall "community package". I placed a great deal of weight in my decision making process on the general location relative to all of the commercial development (Market Commons, Hard Rock Theme Park etc) going on in the center of and on the south end of Myrtle Beach -- which is flourishing.

I ultimately made my purchase at Tupelo Bay Golf Villas which is a "new" beach and golf community on the Surfside Beach/Garden City line. From an "owners" perspective (I was one of the first to buy at Tupelo Bay), you really won't find anything on the grand strand that compares with regard to construction, location, amenities, and overall lifestyle in the price range they are.

In addition to being an owner of a Tupelo Bay Golf Villa since June of 2006., I am also a Broker for the Real Estate Company who markets Tupelo Bay Golf Villas. They do allow weekly rentals and have had great success relative to it being the first full year. Some of the buildings are still under construction but many of the community "resort style" amenities are completed including indoor & outdoor pools, full service fitness center, tennis courts and most importantly, a shuttle service to the beach which have been in "full swing" all summer. The Tupelo Bay Villas are adjacent to the Tupelo Bay Golf Center where Villa ownership includes golf and clubhouse privileges.

The 2006 summer rentals were better than anticipated for a first year project and there is currently a "waiting list" for winter "snow bird" rentals (Nov-April). The "feedback" we have received from both owners and renters this year have been "glowing" so I am extremely optimistic about future rental seasons in addition to future appreciation potential. The remaining amenities are in the process of being completed which will include a full service summer kitchen adjacent to the pool complex, a car care facility and a social activities director.

I suppose I could go on and on but if you haven't had an opportunity to see Tupelo Bay, I encourage you to check it out before making your decision. The homeowner fees are extremely low relative to what is included ie) insurance, extended cable, full service fitness, in/out pools, tennis, golf privileges and of course beach access via shuttle.

I would be delighted to share with you my personal experience as an owner and can also assist you with the availability of what is for sale, including the remaining pre-construction incentives. I can also provide you with a 1st year rental history for some of the Villas in addition to providing access to current owners who would also be happy to share their experiences with you.

In closing, feel free to give me a call or contact me by email via the "web reference" listed below. I look forward to speaking with you and wish you great success in your search!

Laura Bunts
843-450-8070
LauraBunts@aol.com
Web Reference:  http://www.laurabunts.com
0 votes
Lisa Thompson, , 29485
Thu Sep 6, 2007
Hi Mr. Smith, I am a realtor in the Charleston, SC area and can provide you with information in this area. Why don't you e mail me directly with a little more information; such as your size specification, price range, how close to the beach, etc. I can also refer you to our Myrtle Beach office to provide you with information in that marketplace. Talk to you soon. Lisa Thompson, Realty Executives of Coastal Carolina, Cell: 843/270-2221. lthompson@realtyexecutives.com
0 votes
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