Why feel comfortable when investing in Myrtle Beach, SC.
I was born in Myrtle Beach, so over the past 30 years I definitely have seen first hand the monumental changes that have occurred especially over the last 15 years. Over the past few years I have helped many clients with investment properties. These properties are not just condos, townhouses, or beachfront property; they also include commercial, development property, land, etc… There are many investors novice to ‘professional’; that think investment property has to be a condo, or beachfront property. Personally, I have seen some of the highest gains, short term and long term with land and acreage. Anyway, this article is about finding comfort when thinking about investing in the Myrtle Beach real estate market. I think the easiest way to find comfort is to look into the numbers.
It is all about the numbers.
Myrtle Beach continues to grow at a record setting pace.When talking about Myrtle Beach let’s think about all of Horry county. Why invest in Myrtle Beach? 2004-2005 the population of Horry County grew at an estimated 5.5%, or about 11,000 people.That is about the population of a small town called Oswego, NY; where the love of my life is from.So think of 11,000 new people to an area within a two year time span. 11,000 more mouths to feed, how many have children, how many want to take dance classes, gym memberships, etc… With so many people continue to move here I think you should do pretty well in this area when investing money that you have sitting in the bank maybe bringing in 5% a year?
How about the schools?
Over the past 10 years Horry county enrollment has gone up by 7,700 students, with 1/3 of this change taking place over the past two years. If this growth rate continues by 2016 there will be an estimated 20,000 more students enrolled. So when you think of investment property in this area also think about long term. If these estimates are correct, that adds many more jobs, many more day cares, dance studios, grocery stores, restaurants, and investment opportunities. With these numbers commercial property and land definitely becomes a much more attractive investment.
How does Myrtle Beach stack up to other beaches?
An estimated 15,000,000 people visit the Grand Strand area a year, with a majority of this taking place through the summer months. The Grand Strand also accounts for about 40% of South Carolinas tourism revenue. With these numbers the vacation rental market also does very well as an investment. What does AOL think about Myrtle Beach? AOL is one of the most widely used search tools online, each year they have AOL’s top searched beaches. This year Myrtle Beach was at the top of that list, beating out Miami, Daytona, and all other beaches across the nation.
Hopefully, I have given you enough factual information to help in deciding if Myrtle Beach is the right place to invest. Even if these numbers sound great and it sounds like there is no risk. There is always a risk with any investment. The first thing you need to do is sit down and make sure you can afford the investment. Too many times I have seen people that think they are going to make a ton of money in a short time frame. Sometimes you do and sometimes it does not happen like you planned. Just remember do not treat the real estate market like it is an ATM machine. Investments sometimes take time, if you can hold on to your real estate investment long term they can be very rewarding and can help you with something called RETIREMENT. I have helped many clients in there search for investment properties and continue to work hard in finding new deals and new clients. Hopefully, I can help you find your next Myrtle Beach investment property.