Page 91 - New Agent Real Estate training book

required to. Just keep in mind upgraded units usually generate higher rental figures than ones
that are not. To qualify for the on-site rental program, owners will need to maintain a certain

level of upgrades and maintenance of their unit. Owners are responsible for maintaining the
interior of their units. For example; heating and cooling systems, furniture, and appliances
must be maintained by the owner. The age and condition of these items will vary depending on
the unit you pick and if the seller has ever replaced them or maintained them properly. If you
are part of the onsite rental program, their maintenance staff will assist with some unit repairs.
For example, if there is a repair needed while the unit is rented, they will handle small repairs
for a fee, which can save you the trouble of traveling back to handle it yourself, or trying to find
someone last minute while there is a renter in place.

This structure is very similar for all ocean front condo buildings, and most buildings operate the
same way. No matter which resort you decide, rental agreements, HOA fees, and usage is
pretty much the same. Many of the floorplans are basically identical between buildings, just
with variations regarding things like upgrades, furniture, and amenities. If you were to
purchase a unit, it’s very turn-key. You can close in person or by mail with any SC attorney, and
that same day any rents from that point on will transfer to you if you decide to keep it on the
rental program.

If you are considering ownership, these buildings can be a great option. Many people I speak
with have visited Myrtle Beach year after year and spent a fortune renting. Many have spent
enough that they could practically own a unit by now. Owners love the flexibility of coming to
the beach anytime they want and staying in their own place. That’s why virtually all of these
ocean front buildings are all privately owned. So, is this something you would be interested in?

(If they don’t want to rent, all new owners must honor 90 days of rentals after closing. Let
them know if it has renters on the books they might not be able to use the condo immediately.)

Banking info

David Smith Sandhills Bank

Mark Barrett Cresscom bank office: 843-429-2519

Scott Branstrom South State Bank 843-429-2471

Matt Richardson Movement Mortgage 843-267-7694