Explore Oceanfront Condos at Sea Mist Resort | Insider Look

[@DWilliam1]

I stayed there 20+ years ago and it reminded me of the projects in NYC…completely rundown. I also believe the HOA fees are extremely high, especially for what you get. As I started making money I ended up investing in Barefoot in NMB. Zero regrets.

[@shorewisewealth]

Barefoot is very nice, especially compared to the Sea Mist Resort. However, where else can you invest $96,000 and get a cash on cash return of 14%? What you're describing is the challenge of getting something nice and not making as much of a return (Barefoot) VS getting something really nice (Barefoot) and not making as much money. How much of a cash on cash return have you made at Barefoot?

[@DWilliam1]

@@shorewisewealth I bought back in 2009 when the market collapse and I bought for around $100K. I rented for about 7 years and averaged about $12K-$14K per year. Lowered my taxes and paid off my mortgage. Now I’m going to retire there.

[@BrisLS1]

@@shorewisewealth Cash on cash? How about Guggenheim (GOF) currently paying 17%. If the place is trashy, stay home and invest in an app on your phone. No excuse for wasting beachfront land on the riff raff.

[@JonnoPlays]

It looks exactly like those buildings that fell down....

[@shorewisewealth]

Hey Buddy! LOL. Sea Mist has not fallen down. LOL. Are you talking about Myrtle Beach Resort?

[@stanmarcusgtv]

it looks like a dump w/ a good view

[@shorewisewealth]

@@stanmarcusgtv Hey Stan! Sea Mist Resort is one of the best values on the beach! The average sale in Sea Mist Resort, last time I ran the numbers was $96,000+/-. What makes it such a great value, is the price tag. I spoke to a gentlemen that lives there and owns a unit he rents out and he made $28,000 in Gross Rental Income from the unit he rents there. Now he works his rental business pretty seriously from what I can tell, but think through this with me, where else can you find a condo that you pay on average $96,000+/- and make $28,000 in Gross Rental Income?

[@jamesslipsager3889]

What year were these condos built?

[@jamesslipsager3889]

​@buyingmyrtlebeachrealestate Is the 28k long term or short term?

[@richardgervasi8180]

Hello I keep seeing your posts and I always wanted to buy in this are

[@shorewisewealth]

call or text me and let's chat: 843-360-1737

[@jm8550]

Something about having my washer or dryer that close to the toilet you probably can't even open up the door just a little bit doesn't suit me very well but the seller is the viewpoint I guess by the way he's a pretty good real estate agent highly recommend.

[@mickpalmer951]

What is the HOA FEE. WE are looking for a 2 bedroom beachfront as our home. We are retired.

[@shorewisewealth]

Text me: 843-360-1737 and I’ll get the information for you.

[@shorewisewealth]

HOA Fee is $530. Call or text me for more information: 843-360-1737

[@thomasryan2679]

Are HOA and insurance premiums tripling like in Florida? Is flood insurance required? Or are you just promising paradise for commissions?

[@shorewisewealth]

Hey Thomas, insurance has increased in our market but probably not to the extent as what I've heard of in Florida. In light of the appreciation and annual profitability of some Myrtle Beach oceanfront condos, even though insurance increases have caused the Myrtle Beach Condo market inventory to increase by as much as 766% over the last two years, making it a Buyer’s Market, Myrtle Beach Oceanfront Condos remain an excellent investment. Just ask Rufia, on Airbnb, who owns 27 units, one of which brings in over $207,000 in Gross Rental Income! Flood insurance is covered in your HOA fee. The power working with a solid and professional broker is that you get all these questions answered. Are you working with someone?

[@richardgervasi8180]

Hello have always wanted to purchase there I would be looking for spring

[@shorewisewealth]

@@richardgervasi8180 excellent! Text me: 843-360-1737

[@Fieldtest-bq3ri]

(actual condo viewing starts @ 7:16)

[@WakieUppieYall]

why didn't y0u show view?

[@emichels]

Don't be afraid to say the word condotel! Because that's what it is.

[@jonathansmith283]

does the owner or building owner determine the prices for renting ? how do prospective buyers obtain the minutes of meetings to see if large assessments are coming up ? thanks ~ JDS/CT. -- ( others asked- what are the HOA fees )

[@shorewisewealth]

Hey Jonathan! Great hearing from you. Property management company (either off-site or on-site property manager) decides the pricing. For the minutes, send me a text message with your Name and email address and I'll send them over. My cell: 843-360-1737

[@shorewisewealth]

HOA Fees run $530. They include: Electric Common, Water and Sewer, Trash Pickup, Elevator Service, Pool Service, Landscape/Lawn, Insurance, Manager Security, Rec. Facilities, Master Antenna/Cable TV, Common Maint/Repair, Electric In Unit, Pest Control. Tell me more about what you're looking for in our market or call/text me at: 843-360-1737

[@donaldcarpenter2731]

Is The pool area open ? I heard it was closed

[@shorewisewealth]

Which pool area? The one closet to the Tides Building or the one near the registration building with the lazy river?

[@johnhughes3625]

It's a cesspool

[@yeshiwasengda1853]

How much the Fee for HOA? Really I want to buy for rental market

[@shorewisewealth]

HOA fee runs $530 per month. Send me a text and I’ll give you the breakdown of expenses. My cell: 843-360-1737

[@joespsjoe]

hello, i'm following you for more than 4 months. I'm still torn between 6 resorts to buy my first condo. I contacted a number of owners in these resorts, but my hesitation prompted me to search further. the list of resorts: landmark - seamist - the renaissance tower - the grande cayman - the caravelle - Compass Cove. i'm still looking. please advise. if you can give me a ranking from best to worst according to your expertise 🙏🙏 to make a final dicision.👏👏 note: i'm gonna pay it cash.budget between 80 and 100k$.

[@shorewisewealth]

Please give me a call or text me at: 843-360-1737. Super pumped to be part of your purchase. And thank you for watching the channel.

[@johnmarshall6278]

What are the reserves, taxes, and HOA . You left out the most important things!!!

[@shorewisewealth]

Hey John! If you'd like the taxes and Reserves, you'll have to contact me. HOA Fees run $530. They include: Electric Common, Water and Sewer, Trash Pickup, Elevator Service, Pool Service, Landscape/Lawn, Insurance, Manager Security, Rec. Facilities, Master Antenna/Cable TV, Common Maint/Repair, Electric In Unit, Pest Control. Tell me more about what you're looking for in our market or call/text me at: 843-360-1737

[@sirpercival4731]

WHAT'S THE HOA FEES ????

[@shorewisewealth]

Hey Buddy! HOA Fees run $530. They include: Electric Common, Water and Sewer, Trash Pickup, Elevator Service, Pool Service, Landscape/Lawn, Insurance, Manager Security, Rec. Facilities, Master Antenna/Cable TV, Common Maint/Repair, Electric In Unit, Pest Control. Tell me more about what you're looking for in our market or call/text me at: 843-360-1737

[@LarryR33603]

No price info??? Amenities??

[@shorewisewealth]

Please see my other videos, Or text me and let's discuss: 843-360-1737

[@shorewisewealth]

Average price of a direct oceanfront unit at Beach Life Resort, formerly Sea Mist Resort is $96,000

[@jayp4114]

Is that East Germany ? 🤔

[@shorewisewealth]

@@jayp4114 Myrtle Beach South Carolina

[@robpodles1343]

The comments he makes when walking inside this unit is crazy. This is beautiful, the nice shower, beautiful sink, etc etc. Are you kidding me? This condo looks like the standard box, color sucks, and it’s completely average at best. There is absolutely nothing extra nice at all. Be more real in the videos. I subscribed to channel. Hopefully better more accurate videos to look forward to.

[@danielanglero3408]

Insurance BOYS👍👍

[@shorewisewealth]

HO6 insurance is included in the HOA Fee (At Sea Mist Resort) as well as insurance that covers the exterior of the building.

[@kaelc2]

Place is full of mold, it spreads. Service is horrible. Don’t forget the accidents in the news.

[@shorewisewealth]

What accidents?

[@kaelc2]

Drownings and chem burns at pool

[@conniej2691]

Show the unit.

[@shorewisewealth]

Unit footage starts at 6:52 into the video.

[@marieallen5304]

Nobody wants to live in a condo because of the problems of reassessing the buildings, costing hundreds of thousands of dollars to homeowners condominiums are collapsing buyer. Beware run as fast as you can.

[@shorewisewealth]

Again, this is an excellent example of why you hire a solid and professional broker to examine the meeting minutes and HOA budgets before investing in an Oceanfront Condo. If timed correctly, you simply buy into the resort after all the work has been done updating the unit so you don't have to pay for all the special assessments and then you just coast along (without special assessments) during the next 5-10 years. Or, you buy the unit at a bargain with the special assessment projects on-going and the seller takes a loss on some of their appreciation (profits) because it's advantageous for them to exit the investment as they've already made money (if they've owned for a few years, they've made appreciation) while advantageous for you because you can buy it at a discount. In other words, the seller made money on appreciation but wants to avoid the special assessments due to major projects, so you buy it discounted and cover the special assessments and you both win.

[@shorewisewealth]

Are you in the market?

[@rickcole8687]

Who wouldn’t be interested ? Final cost would be good

[@shorewisewealth]

We appreciate your curiosity! The final cost is something we can definitely provide more details on. Send me a text so I can answer any other questions you have: 843-360-1737

[@_SHANE_]

How does one make any money when 1: HOA $1K+ month 2: Percentage of earnings taken off the top to the owner of the building 3: mortgage + escrow 4: rented seasonal... Not to mention upgrade fees when building upgrades

[@shorewisewealth]

You really should watch the rest of my videos, or atleast some of them. I explain how they generate profit while showing a spreadsheet breakdown on the screen. It will help you better understand how they make profit. In the Matt Fries interview Videos (Parts 1, 2, and 3) he explains that he's made on average $22,000 in PROFIT, PER UNIT, for 8 of his units over the past 8 years. That's roughly $1.4 Million dollars IN PROFIT on 8 Myrtle Beach Oceanfront Condos, and, he's an out of state investor. Call/text me for more questions: 843-360-1737

[@_SHANE_]

@shorewisewealth I probably should because I started getting interested until one owner at one of the hotels explained her situation. After hearing all the fees she has to pay and the months when she only gets business , it sounded like the only positive is her equity building. Which doesn't pay the bills.

[@shorewisewealth]

@@_SHANE_ There are two types of owners, those that are absentee (don't really get into playing the rental game) and those that are serious about making money with their rentals. Nothing against that lady, and I don't know which type she is, yet I meet some owners that make BANK and others that don't really know what they're doing, or their head's not really in the game and they don't make profit. You MUST be careful who you give you ear to. Text me or call me and I'll help you get an accurate understanding of the rental game and how to make money with Myrtle Beach Oceanfront Condos. 843-360-1737

[@_SHANE_]

@@shorewisewealth Definately in the game.. Until I heard about DSCR loans by watching Ben Mallah: Life For Sale , I thought it would be nearly impossible due to my DTI . Plus after my aunt died who was a "landlord" and seeing how much she had hidden away , it got me a little excited. Not that my aunt died , but ...lol. She sure hid it well with the junk she drove lol. kzbin.info/www/bejne/fpXYcnyAeLugjposi=qfi6_1E6SXYbcIGH

[@vermeerrecpt9290]

All of these Myrtle Beach Condos look like Motel rooms. That's not the look I'm interested in frankly.

[@shorewisewealth]

Tell me more about the look you're interested in? If you'll tell me your price range, I'll be more than happy to recommend resorts that work for you.

[@vermeerrecpt9290]

@@shorewisewealth Thank you. However, I am about two years away from retirement. So, I am not quite ready to actually purchase a retirement condo. Never been to Myrtle Beach; but planning on a vist sometime this year. I love golf so, retirement in Myrtle Beach potentially is a possibility.

[@vermeerrecpt9290]

@@shorewisewealth Specifically what I am looking for, is a place like "345 Bayshore" in Tampa; lived there years ago. If you check that out, you will have a good idea. Thanks.

[@Fieldtest-bq3ri]

that place is currently officially "Permanently closed" and had been at the time this video was produced! do your research and always check the CRIME rate where you buy!!!

[@shorewisewealth]

While I appreciate you trying to help everyone, you’re information is not correct. This property is not closed lol. Lol. I know the owner personally. In fact, I have several listings on the MLS at this resort and other realtors have properties online here. All you have to do is search Zillow and you’ll see active listings currently online at the Sea Mist Resort. Additionally, I helped 2 investors buy here just last month. Text me and I’ll put you in contact with the owner: 843-360-1738

[@patrickdonahue8384]

To much talking!!

[@johnhughes3625]

Sea Mist sucks, it's falling apart, welfare motel.

[@shorewisewealth]

It's definitely not for everyone but I can say that the new ownership at the Tides Building is really turning things around there. Are you in the market?

[@LindaMoon-pz4dm]

Never buy this place.

[@Alley-ue8xl]

So misleading

[@shorewisewealth]

@@Alley-ue8xlthank you for checking out the channel. Help me understand what’s misleading?

[@Alley-ue8xl]

The price of the condo is 1 factor in buying a unit. There are so many other factors like HOA insurance. Special assessment. You are responsible for internal issues inside of the unit. You need to follow the possible unrealistic rules of a condo. Insurance rates will likely not stay go down in any meaningful way. There is a glut of buildings being constructed all over the beach front community. It's cheaper to rent than to buy in this market.