Lots of great deals currently being made in our market place. If you have been thinking about buying and are looking to get the inside scoop on what is happening in our marketplace, a good place to start is by Searching Myrtle Beach Listings.
If you are looking for foreclosure properties, be prepared for some buying competition. On some of the best cash flow properties on the beach, we are seeing multiple offers coming in at the same time on these properties. Many investors know which properties will give the best rental numbers and the best cash flow. When a property like this has multiple offers, the forclosure bank will usually come back to all parties that submitted offers and then ask for the highest and best offer. At that point in time whoever bids with the highest and best offer wins.
Of course, properties are actually selling for more than the asking price. So you say why would you pay more than the asking price? Because even paying a little more than the asking price that is 60% or 70% off what they originally sold for. And at that price, when rental numbers are added, they will actually put money in your pocket every month, even with all homeowner's association fees and expenses.
I had one investor tell me that if he put his money in the bank he wouldn't get hardly any return on his investment. But the condo he was buying would give him a 17% return on his investment. Not bad is it? Its all about knowing the right properties and getting the inside scoop.
You can start by signing up for VIP Myrtle Beach Bank Owned Foreclosure Listing Alerts. You will get the basic information on what is average and what is way above average.
When you are ready, take the time to set up a time to work with an expert in foreclosures. Take the time to come to town and let them show you why one property may be average and another is way above average. The internet is a good tool, but not many people are comfortable buying a property over the internet. That is why it is in your best interest to take the time by coming in town, setting the appointment, and working with the Foreclosure Real Estate Pros. If you take the time you and set the appointment, You will get a ton of information by seeing and touching, and comparing with an expert showing you in person.
If it's a cozy vacation cottage by the sea or real estate in Myrtle Beach SC you should start your search with a trusted Realtor for your home buying experience.
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