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Saint Simons Island further South in GA is still commanding price increases. Two weeks ago the only house for sale in our subdivision went for the ask in a couple days. I thought it was a very strong price. Maybe we don't have enough condos and we're a smaller community.

CRIME is the reason. Bi-Den AmeriCA IS REAL. Bad guys aren't put in prison anymore. that would be racist.

I sold an ocean front condo in 2017. Lost money after buying in 2005. Myrtle Beach, SC is basically a second home market that is greatly affected by changes in the market. There are not enough high paying jobs in that area to support year round living. Most year round people are retirees who worked up north and built up big retirement assets. Now, they move south to get better weather. I predict at least a 20% drop in current prices for single family homes and condos in that area.

Worst Time ever to buy. Lowest mortgage originations since 1995, Homes 50% Overpriced, Interest rates at 7.5%, H.O.A, Insurance & Property taxes higher than ever. Tell people the truth #GREED

Worst Time ever to buy. Lowest mortgage originations since 1995, Homes 50% Overpriced, Interest rates at 7.5%, H.O.A, Insurance & Property taxes higher than ever. Tell people the truth #GREED

Worst Time ever to buy. Lowest mortgage originations since 1995, Homes 50% Overpriced, Interest rates at 7.5%, H.O.A, Insurance & Property taxes higher than ever. Tell people the truth #GREED

Worst Time ever to buy. Lowest mortgage originations since 1995, Homes 50% Overpriced, Interest rates at 7.5%, H.O.A, Insurance & Property taxes higher than ever. Tell people the truth #GREED

Worst Time ever to buy. Lowest mortgage originations since 1995, Homes 50% Overpriced, Interest rates at 7.5%, H.O.A, Insurance & Property taxes higher than ever. Tell people the truth #GREED

3:20 Cognitive Dissonance that wont age well. #GREED

It’s nothing to do with the economy or interest rates or employment. It’s all about Climate Change, rising sea levels and the storms that keep getting worse and worse. No smart money is buying a home that’s in harms way.

The Surfside collapse changed the waterfront condo market forever.

there is a glut of homes in Myrtle Beach....There is not enough good paying jobs in the area to keep the demand up.....I see a 30% drop coming

Great info. Thanks!

It's June 2024 now. Where are the best condo deals for under $200K? You think prices will even go lower?

So, is it best to sit tight and wait for lower prices? Where are the best deals/values on 1 bed condos right now?

Great video

The cost of HOA, extraordinary fees, the parking fees, the upkeep of the condo (especially ANYTHING exposed to the salt infested wind), window cleaning, renewing much of the furniture every 3-4 years, state income tax, state land tax, property and fire insurance, water damage insurance, usually paying the condo manager in order to rent out the property, advertising, real estate fees to manage - just go on and on and on. In this market it is IMPOSSIBLE to make money on rentals unless you charge $3-4,000 a week!

I heard you can get management fees for 15 percent

Hi Abe, I like you video, very helpful. What do you think to purchase SFH instead condo for investment? Would like have your professional opinion. Thank you very much!

Most informative video on rental income I’ve ever seen

Can we download this spreadsheet ?😊

Anyone who buys a property controlled by an HOA is an idiot who likes to surrender their property rights to dictatorial idiots.

Where could I download a copy of this worksheet?

What you should know when buying a condo in myrtle beach?? Have PLENTY of CASH!!

What about the rising seas? How come the banks are lending money on ocean front property? Global Warming Inc. says we are all going to be living in Atlantis in 10 years. Algore and manbearpig

Hi, thank you for this. Is there a cap or a restriction on resell?

What is causing the increase in these 5 resorts

Hi, thanks for the video and the information. That was very helpful. We have a quick question, can all oceanfront Condotels be self managed or do some require you to use their management company? Thanks.

My sister has her house on the market and the first person that wanted it was approved and they put down some money towards it but then backed out once they spoke to the bank and learned of how high the interest rate is. So even though the house is priced right, it seems that the interest rates are working against both the buyer and the seller.

Is there an easy place to pull up rental income data for a specific property?

Just to be clear…if buying a condo on Myrtle Beach as an investment property, are you required to hire a management company in order to rent it? Or can you self manage it and still rent it out? Whether it be long term tenant or Air BNB?

Thank you so much for sharing this info.

Great information!

Very well done video on how to rent a condo.

Hey Abe, great appreciate your content and the podcast you did with Brandon. Would greatly appreciate you doing a session of circle prospecting or calling expired/ canceled listings live. Can you do a video? Thank you for your time.

In 2015, I bought a very nice, waterfront unit in FL as a foreclosure at a very good price, with plans for this unit to be my future full-time retirement destination. The building was well-maintained and well-managed. The HOA only allowed rentals at 1 yr minimum. I self-managed and kept it fully rented with the same excellent tenant for 7 years, at 10% below market. Special assessments, ever increasing property tax, property insurance and HOA fees crushed my return on rental income to just 1% annually. I got a very attractive, unexpected cash offer and ended up selling early in 2022, nearly tripling my investment. Now, I'm not reinvesting in real estate so now I'm looking at huge capital gains and depreciation recapture taxes!

Do you need to have management fees

Very good video and I'm glad that I have been adding up the numbers in the right way. As a first time condo buyer, I'm trying to make sure I get all the numbers accounted for so that there aren't many surprises down the road. I'm thinking now is a good time to buy a rental because rates have got to rise significantly soon to curb inflation. Picking the right unit is key! Thanks for the video!

They are coming from everywhere Reasons ? Taxes, values,weather, Retirement, etc, it’s always a good Time to buy!

Powell will do fifty tomorrow, but that's not it... We'll still have a few 25 basis points in the start of 2023. It's #HigherForLonger for sure. He's stated many times that they are NOT going to repeat another Arthur Burns moment. Terminal rate will see a five handle before we're over.

😋 𝘱𝘳𝘰𝘮𝘰𝘴𝘮

great video!

Your video is fantastic. I really enjoy to watching your video. Keep it up. Can i talk with you?.

Very informative discussion in these changing economic times. Thank you.

Abe, I'm looking to buy a condotel oceanfront within the next few months. How long should I wait? Like August, September? or later? Also, how do the HOA's function? are they like a typical HOA was power hunger people in charge nit picking minor rule infractions?? thanks

T/you

Abe, I liked your advice very good and positive and it sounds like is the best way to deal with a low ball offer by turning that buyer into a prospect customer.