Myrtle Beach Rental Property Investment Offers Advantages

With the current low purchase price of rental property and condos many Myrtle Beach real estate investors are taking a look at the advantages of owning rental property.  The biggest advantage in rental property is that you are able to maintain ownership of a very valuable asset that is real and tangible.  Compare this to other investments such as stocks which are highly volatile and whose value can actually decrease to zero, this is a huge advantage.  You can touch and feel a piece of property that you selected and maintain with a sense of pride in ownership.  Add to that the income-producing possibilities that can cover your investment and you have an investment winner.

Advantages of Rental Property

Many investors have concerns about investing in company stocks or in financial instruments but they also realize they need to invest their money somewhere it will grow for the future.  As we mentioned, the stock market will fluctuate over time, while real estate has historically grown in net worth.  Even with the current soft market in housing, investing in real estate is a great way to grow your wealth for the future.  With more and more families finding it hard to qualify for a home mortgage, many of them are turning to renting.  The Myrtle Beach area is home to older couples who are moving to the south for warmer weather and amenities such as golf and the ocean.  Many of these couples don’t want the headaches that home ownership can bring and are looking to rent their southern homes.

Another advantage of real estate investing is the income potential.  In most cases rental income will cover the cost of the mortgage and other expenses and provide you with additional monthly income.  You will need to do your homework and calculate all the monthly expenses, including a reserve for any future repairs or improvements, to determine if you will have an income stream from the property.  This will be easier to determine if you have a family renting the home all year around or a seasonal vacation property.

As a general rule, real estate property will appreciate over time providing you with an every growing asset.  You will want to purchase property in areas that are stable and have a history of growing in value.  Keep in mind that we had a very high grow rate and then a severe dip in the housing market.  You will want to look at the value of properties in the area over a long period of time. Even if you are looking to invest in a relatively new property, you can work with a Myrtle Beach real estate agent to check older properties in the same area to determine if there is a general increase in home value.

Another advantage of real estate investing is leverage.  This means you have the advantage of purchasing the rental property with borrowed funds at the current low interest rates.  You can then start taking advantage of all the benefits of owning Myrtle Beach rental property while at the same time only investing a small percentage of the value of the Myrtle Beach property out of your pocket.  In most instances the rental property will secure the mortgage and you will not need to pledge any other assets.

The tax advantages of owning rental property are another great reason to buy.  You will be able to deduct the interest on the mortgage, any utilities that you are obligated to pay, home owners association dues and repairs. These will be deducted from the money you are charging for rent on the property and will often return a loss on your tax return which can offset other income.  Of course, you will want to check with a tax accountant or lawyer before factoring in this advantage into your decision to purchase Myrtle Beach rental property.

One intangible asset to owning rental property is that you are your own boss.  Whether you are looking to supplement your current income or leave your current job and do real estate investing full time you can benefit from the independence of owning and operating your own Myrtle Beach rental property.

Working with a real estate agent to find the best Myrtle Beach rental property is a wise decision.  A real estate agent that knows the area and can keep you informed of any new listings is the best asset you can have.

Give us a call today to discuss your real estate investing goals.  We know the area and are versed in short sales, foreclosures and bank owned properties that are real bargains.

Jerry Pinkas Real Estate Team
854 Frontage Road West, Myrtle Beach, SC 29577
(843) 839-9870 ?

Real Estate Investing and Your Retirement

Myrtle Beach Real Estate and Investing For Retirement

Most people know that you can invest in mutual funds, stocks and bonds in their retirement account.  Did you know that you can also hold Myrtle Beach real estate property in your retirement account?  Take a look at your statement and if you see an REIT in your portfolio, you are already holding real estate in your retirement account.

What is REIT? Real Estate Investment Trust.  In many instances, REIT’s are publicly traded on all of the major stock exchanges just like you would trade stocks.  In most instances you purchase shares of a mutual fund that holds the public real estate.  When we refer to public we mean public buildings such as malls, apartment or condo complexes (referred to a Condotels), or office buildings.  These investments pay dividends and are a very liquid form of investing.  In other words, there is real estate property moving in and out of the fund on a regular basis which lowers the risk factor.

What If You Want More Control Over Your Myrtle Beach Real Estate?

With the drop in real estate prices and the increase in foreclosures, now is the perfect time to invest in Myrtle Beach real estate.  You can setup what is referred to as a self-directed IRA.  You will want to consult with an investment broker, but, you can take advantage of the tax benefits of an IRA AND the long term investment returns of Myrtle Beach real estate.  You can invest in rental property, commercial property or land.

Why is Investing in Myrtle Beach Real Estate a Smart Strategy

You can look at the current Myrtle Beach real estate market as a risk or an opportunity.

• Over the past few years we have seen a severe drop in the Myrtle Beach real estate market, however, there has also been a severe drop in the stock market and many stocks are now worth next to nothing.   Myrtle Beach real estate will never drop to zero. 
• You can recover your investment by renting while the market returns to “normal.”
• Plus historically the increases in real estate property values have always exceed the rate of inflation.

Foreclosure Investing – A Smart Strategy for Myrtle Beach Real Estate

Combine the advantages of placing the Myrtle Beach real estate in a self directed IRA and investing in foreclosures and you have a combination that is hard to beat.  Myrtle Beach foreclosure investments are created when a Myrtle Beach homeowner has defaulted on their mortgage and the mortgage holder has taken repossed the property and it is now bank owned Myrtle Beach real estate.  In many cases the property will be sold at auction.  Another great opportunity that is less risky if investing in pre-foreclosures.  This is when a Myrtle Beach home owner makes the proactive decision to put their home on the market prior to the bank foreclosing on the property.

It is a buyer’s market for Myrtle Beach Real Estate

In today’s market, buyers are in a position to negotiate the price of the Myrtle Beach real estate property as well as terms and conditions of sale.  The homeowner is fully aware that if they do not sell the home, it will be taken over by the mortgage holder and their credit will suffer.  Many homeowners are contacting Myrtle Beach real estate agents to avoid foreclosure and will list their homes below the current market value.  Generally homeowners who have defaulted on their mortgages have up to 90 days from the time they are notified by the mortgage holder they are in default.  This makes the homeowner very motivated to sell their Myrtle Beach home and avoid the foreclosure process.

Cheap and low risk investment option

Investing in Myrtle Beach foreclosure properties is one of the least expensive ways to maximize your investments in your portfolio.  Make sure that you conduct thorough research (there are lots of tips on this site to help you) and work with a Myrtle Beach Real Estate Agent that is knowledgeable about short sales, foreclosures and investing.  With planning you can purchase an investment property for well below the current market value which means they are increasing in value from day one.

Are there rules in placing Myrtle Beach Real Estate in your IRA?

Yes.  The IRS has definite rules for this type of investing and you will need to have your account managed by a trustee.  This person will follow a plan under your direction.  You personally cannot directly benefit from the Myrtle Beach real estate.  In other words, it cannot be your primary residence, your office space for your business or even used as a vacation getaway.  This rule apply to children and parents.  You can partner with someone else on the investment with your share of the profits funneling into your IRA.

Not all Myrtle Beach real estate investment fit within the IRS rules for adding to your portfolio.  You will want to check with your financial advisor before making any changes to your Self Directed IRA.

We are here to help you research Myrtle Beach real estate and find those great bargains.  Give us a call today to schedule a convenient time to discuss your strategy.

Jerry Pinkas Real Estate Experts
854 Jason Blvd #G, Myrtle Beach, South Carolina 29577
(843) 839-9870
homeguidemyrtlebeach.com

Foreclosure Investing – The Pros And Cons Of Investing In Foreclosures

Myrtle Beach Foreclosures – Are They A Good Investment?

In today’s economy there is no doubt that investing in Myrtle Beach foreclosures is one of the best opportunities to make money – if you know what you are doing.  You always want to keep in mind there are risks involved with buying Myrtle Beach foreclosures just as there are risks in any investment.  Investing in a Myrtle Beach foreclosed property allows investors the opportunity to buy a Myrtle Beach home under the market value but there are risks such as:

• Underlying liens
• Time spent in research
• Potential long-term carrying costs
• Rental costs, if applicable
• Renovation costs

These are just some of the considerations when investing in Myrtle Beach foreclosures.  If an investor is willing to take a chance, they can profit in the long run.

Stages in which you can purchase Myrtle Beach foreclosures

There are several stages in which an investor can purchase Myrtle Beach foreclosures.  You will want to familiarize yourself with each type of Myrtle Beach foreclosure and the advantages and disadvantages of each stage.  With a little research, you can avoid making costly mistakes and purchase Myrtle Beach foreclosures at the wrong time.

Pre-Foreclosure Stage – at this stage the Myrtle Beach homeowner is still occupying the Myrtle Beach home and is in control of the property.  The loan is in default at this stage and the mortgage holder is starting to put pressure on the homeowner.  At this stage the Myrtle Beach homeowner is looking to sell the property quickly and has a strong desire to avoid the Myrtle Beach foreclosures process.  This can mean big savings for you as the investor and the potential for financial gain.

Advantages of Pre-Foreclosures:

• You have the potential to save up to 40% of the current market value of the Myrtle Beach home
• The mortgage company may accept very low or no down payment if there is already built in equity in the Myrtle Beach home
• You have the opportunity to inspect the Myrtle Beach home and do some research prior to making a decision
• You are in a position to negotiate directly with the home owner

Disadvantages of Pre-Foreclosures

• You may not be able to reach the home owner to negotiate a purchase price
• There may be competition for this type of Myrtle Beach foreclosures
• Limited time to do your research by going through court filings and documents to ensure there are no outstanding liens
• Homeowner may hide defects in the home that you can see from an initial inspection.

Auction Stage – This is the most profitable stage for Myrtle Beach foreclosures, however, it also carries the highest risk. In this stage a Myrtle Beach property is sold at a public action to the highest bidder.  In most instances, Myrtle Beach foreclosures will be sold well below market value, but they are sold as-is.

Advantages of the Auction Stage

• Larger discounts on the property which may provide an immediate profit
• Potential for a greater return on investment
• You immediately take possession of the property

Disadvantages of the Auction Stage

• You generally don’t have the luxury of inspecting the property ahead of time
• There is the possibility that the auction will be postponed if the desired selling price is not obtained which will cost you valuable time.
• You will need to be prepared to pay a large down payment at the time of the auction for the Myrtle Beach foreclosures.
• You may not have time to do the necessary research to ensure that you take into consideration renovation costs.
• You may not win the auction.

REO Stage – in this instance the mortgage company will retain the property after the auction if the bids were not high enough.  This could also be the stage where the bank takes position of the property when the Myrtle Beach homeowner defaults on the loan and elects to leave the property and turn it over to the bank.  Since the mortgage company is now responsible for upkeep, taxes and insurance, they are highly motivated to sell these Myrtle Beach Foreclosures.  Until the property is sold, they are losing money.

Advantages of REO stage

• As with auctions, the opportunity for purchasing Myrtle Beach foreclosures well below market value
• You will purchase a Myrtle Beach home that is free of all liens
• There will be no back taxes or HOA dues to pay as they must be paid by the bank why they are in control of the property.
• There is a great possibility that the mortgage holder will agree to pay for renovations or reduce the price for needed renovations in order to sell the property.

Disadvantages of REO stage

• There will be a lower return on investment than at the auction stage as the bank is looking to recoup their investment
• You will want to make sure that you spend the necessary time to thoroughly research Myrtle Beach foreclosures in the REO stage
• There is the potential for loss if you end up paying at or near the market value for the home.

Real estate investing, especially Myrtle Beach foreclosures, has a great potential for profit but also a great risk.  Make sure that you do your research and you fully understand all of your risks.  Working with  Myrtle Beach Real Estate Agent that is knowledgeable about the market and has the inside track on Myrtle Beach foreclosures can greatly reduce the amount of risk.

JP Real Estate Experts are thoroughly trained and have experience in Myrtle Beach foreclosures.  Call us today for a consultation.

Jerry Pinkas Real Estate Experts
854 Jason Blvd #G, Myrtle Beach, South Carolina 29577
(843) 839-9870
homeguidemyrtlebeach.com

What You Need to Know Before Buying a Foreclosed Home

Myrtle Beach Foreclosure – What You Need To Know Before Buying

If you are in the market for a new home, you have probably been searching online at various Myrtle Beach realty websites, looking at magazines and brochures and generally checking out what is available in the Myrtle Beach housing market.  You have probably heard that Myrtle Beach foreclosures are on the rise and there are some great buys in the foreclosure market.  This can be a very affordable way to purchase the home of your dreams.

What Causes A Home To Enter Foreclosure?

This is one of the most common questions we are asked.  In most cases, there is nothing wrong with the Myrtle Beach property. Many of the Myrtle Beach properties under foreclosure where managed by a property management company and were well taken care of.  In most instances a foreclosure came about due to financial difficulty of the Myrtle Beach homeowner.  These difficulties could have resulted from being laid off from work, divorce or excessive debt.  In the case of rental properties, there is often more than one owner involved and there may have been a split in the partnership and the remaining partner could not handle the debt alone.

If you are interested in obtaining an inexpensive Myrtle Beach home, you will want to consider negotiating directly with the current Myrtle Beach homeowners.  If the homeowner was wise, they recognized the problem prior to the actual start of the foreclosure process and they have their home listed on what is referred to as a short sale. This is a great alternative that will have the least impact on the financial records of the homeowner.  You as a buyer will get a great deal and the homeowner will save face with the lending institution.  What the bank will accept will depend on the current balance that is owned on the loan compared to the market value of the Myrtle Beach home.

A good sign that a homeowner is willing to take a reduced price for their home is how many times and how often has the price decreased.  If there is a significant reduction in the price, this is a good sign that the home owner is facing a potential foreclosure.  A Myrtle Beach Realty Company can help you track when the price of a home is reduced and keep you informed of a potential good buy.

Foreclosure information is public information which can be found online or through your local government office.  Many buyers will approach the Myrtle Beach home owner directly from a foreclosure listing.  While approaching a home owner in distress may work to your advantage, there are some who consider this approach to not only be risky but also immoral (sort of like an ambulance chaser.)

Once a home has been formerly be foreclosed by the lending institution, you are dealing directly with the mortgage holder.  In many instances there will be an auction for the Myrtle Beach foreclosure.  Although this is a good way to get a real bargain on a home, you are buying the home “as-is” and may be faced with an unexpected renovation project. You will need to have a larger down payment and proof that you have the required funds to purchase the Myrtle Beach foreclosure.  There are even instances where you will not be given the opportunity to see the property being sold.

Before You Buy a Myrtle Beach Foreclosure

Make sure that your review your state laws with regards to purchasing foreclosures.  This is where dealing with a Myrtle Beach Realty company can save you time and effort.  You will want to know all you can about the foreclosure proceedings, redemption laws and tax implications. If you are unaware of the laws that will affect the proceedings, you may find yourself purchasing a property that you cannot afford or that you may lose back to the bank or Myrtle Beach home owner.

One thing that people who are buying foreclosures for rental property may now know is that you are required to evict the current occupants regardless of whether you purchased the property through Myrtle Beach Realty Company, directly from the bank or via an auction.  By law you cannot turn around and rent the property back to the owners if you are purchasing a Myrtle Beach foreclosure.  This may be a problem for you if you tend to be soft hearted and are facing the possibility of evicting a family in distress. You may need a professional if you are having difficulty getting the Myrtle Beach homeowners to move out of the property.

No matter which route you decide to take with purchasing a Myrtle Beach home, you will want to consult with a real estate company that has specialized in Myrtle Beach foreclosures and can help you not only find the home of your dreams but also a good deal.

Call us today and we can assist you in finding a Myrtle Beach foreclosure property that fits your needs.

Myrtle Beach Condos For Sale
Jerry Pinkas Real Estate Experts
854 Jason Blvd #G, Myrtle Beach, South Carolina 29577
(843) 839-9870
homeguidemyrtlebeach.com

Myrtle Beach Foreclosures

Myrtle Beach Foreclosures

Myrtle Beach Foreclosures are on the rise, which in turn provides many real estate opportunities for buyers everywhere. Now is the time to take advantage of the benefits of foreclosed properties in this beautiful beach resort area. Myrtle Beach boasts 60 miles of wide beaches, over a hundred golf courses, outlet shopping and much more. Whether you are looking for a new home, are relocating, or are just searching for a beautiful vacation home, this area is the place to be!

US News and World Report currently lists Myrtle Beach #7 in “Best Affordable Locations to Live” and #9 in “Best Beaches USA”. National Geographic lists Myrtle Beach #3 in “Top US Board Walks”. You will undoubtedly find a home that meets both your budgetary needs and desired location. But these homes won’t last long – Now is the time to buy!

With Myrtle Beach Foreclosures , you may be able to afford a property that once was out of reach. Take advantage now of a foreclosed property and reap the benefits on your investment. This opportunity will allow you to enter at the lowest possible price point and truly add this to your list of assets. After all, real estate should be an asset, not a liability.

With over 3,000 new foreclosure listings, now is the time to find a new home at a great price. You can choose from golf course condo, a bungalow, a large chateau or a seaside home, many selling at a 30% savings. Come find your new abode!

You could purchase a beach front home or a quaint cottage in town. You are sure to be the envy of all of your friends when you take advantage of the great savings to be had by purchasing a foreclosure. Just imagine the possibilities! Myrtle Beach Foreclosures will certainly provide you an opportunity in real estate investment. Browse through the listing options and be sure to contact us if you have any questions about any homes that you would like more information on and we will be sure to forward you with all of the additional information needed to help you to make a informed decision.

Myrtle Beach Foreclosures

Myrtle Beach has seen a tremendous growth in foreclosure sales over the last 18 months; in fact Myrtle Beach Realtors Association says that about half of all sales last year were home foreclosures in Myrtle Beach.

Anyone considering purchasing a Home in Myrtle Beach in 2011 should consider working with a Myrtle Beach Foreclosure Professional, someone who knows all about the procedures required when dealing with the Banks for Myrtle Beach Short Sales and Myrtle Beach Pre-foreclosures.

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Myrtle Beach Condo Foreclosures for Sale

Myrtle Beach Bank Foreclosures & All foreclosures, HUD, VA, and other government properties as well as Myrtle Beach Condo Foreclosures for Sale are available and on the market right now. You can get the jump start on your competition by working with the Myrtle Beach Foreclosure Experts.  The Myrtle Beach Condo Expert will assist you in your search for Myrtle Beach foreclosures and you will a make well informed real estate decisions in the process.

Myrtle Beach oceanfront foreclosures

Myrtle Beach Condo Foreclosure Listings

Foreclosure Condos in Myrtle Beach

North Myrtle Beach Foreclosures

N Myrtle Beach Foreclosures

$339,900 – 3 bedroom, 3 bath, direct oceanfront condo located at the Avista Resort 304 N Ocean Blvd in North Myrtle Beach. 9^th floor unit. WOW! WAKE UP TO THE VIEW OF THE ATLANTIC in this three bedroom, three bath unit at the prestigious Avista Ocean Resort. Enjoy all the amenities, indoor/outdoor pools, lazy river or use the fitness center. Have a quiet dinner at the resort or within walking distance to numerous other restaurants. Units like this sold for as much as $559,900 in 12/06