Dear Myrtle Beach Investor,
I have been sending you information for the last few years regarding the status of the market in Myrtle Beach. As you can tell, the market is more active which presents a better opportunity to get some unwanted investments off your books, which I’m sure you we all would like to do.
I have recently been helping a lot of owners who originally purchased in 2005 or 2006 get their properties sold. Of course, the majority of these owners were under water with their mortgages yet their banks were willing to cooperate and allow them to sell even though they could not pay the difference. In most cases, this is done through the short sale process.
I have researched the current rental incomes of most of these properties and see that the lack of cash flow doesn’t cover the expenses and in most cases is so severe that even if the market increases a little bit, the negative cash flow negates the likely appreciation. I share this info only for the sake of letting you know that there could be a solution which would allow you to sell, of course, if that is your goal.
Feel free to contact me anytime to discuss your options. I won’t attempt to talk you into selling. What I will do is give you a thorough analysis of what can be done to eliminate future losses.
In addition, you can also go to www.DoesMyPropertyQualify.com to get a report on your building or community and see if the banks have been allowing people to sell without paying off the entire mortgage.
As always, I am your Real Estate Resource in Myrtle Beach and Iook forward to helping you some day.
Century 21 The Harrelson Group