Financing for investment rental properties in the Myrtle Beach area.
Rental property investment on the Grand Strand offers a diversity of strategy and income profile that most real estate markets can't match. Within a 60-mile coastal arc, the same investor can hold an oceanfront STR condo in Cherry Grove generating $70,000 per year in vacation-rental revenue, a duplex near Coastal Carolina University in Conway generating stable academic-year occupancy from student tenants, a single-family workforce rental in Socastee generating reliable long-term tenancy from a healthcare worker, and a golf-front condo near TPC Myrtle Beach generating seasonal golfer and snowbird income. Each of these rental strategies has different income profiles, different seasonal patterns, different financing requirements — and Hard Money Lenders of Myrtle Beach has financed investment properties serving all of them.
Our rental property loans serve investors building Grand Strand portfolios by removing the obstacles that conventional mortgage financing creates: property-count limits that cap portfolio size, debt-to-income calculations that penalize investors with multiple existing mortgages, STR income recognition that relies on Schedule E tax returns rather than actual platform revenues, seasoning requirements that prevent capital recycling, and closing timelines that cause investors to lose competitive acquisitions. We close in 5 to 10 business days. We do not limit portfolio property counts. We evaluate STR rental income using platform revenue data and market occupancy projections. We do not impose seasoning requirements before refinancing or cash-out. Self-employed investors, LLC borrowers, and recently-retired households all qualify when the property's cash-flow fundamentals support the loan.
Rental property loan amounts run from $75,000 for smaller single-family rentals in Conway and Loris to $2 million-plus for luxury vacation-rental estates in Pawleys Island's DeBordieu Colony and Litchfield by the Sea. Terms run 12 to 36 months designed as bridge capital to fund acquisition and value-add execution before transition to long-term DSCR or conventional agency financing.
Short-term vacation rental (STR) property acquisitions are the defining rental investment strategy of the Grand Strand market. Oceanfront condos in North Myrtle Beach's Cherry Grove, Ocean Drive, and Crescent Beach communities; beach-cottage-style homes in Surfside Beach and Garden City; and near-beach properties within walking or golf-cart distance of the ocean command vacation-rental revenues that make conventional long-term rental returns look modest. A well-managed two-bedroom STR condo in a Cherry Grove oceanfront building can generate $55,000 to $85,000 in annual gross revenue — supporting investor-buyer valuations that reflect income capitalization rather than owner-occupant comparable sales. We evaluate STR acquisitions using actual platform revenue histories and Horry County seasonal occupancy benchmarks, not Schedule E tax returns.
Golf-resort rental properties represent a specialized STR niche unique to the Grand Strand's 90-plus-course golfing destination market. Groups of four to eight golfers visiting courses like TPC Myrtle Beach, Dunes Club, Caledonia, and Heritage Club increasingly prefer private home and condo rentals over hotels — particularly for multi-night stays where kitchen access and common living space improve group convenience. Golf-front properties and homes in golf-course communities near the major course clusters command premium rental rates from this demographic and maintain better shoulder-season occupancy than pure beach properties (because golf demand extends through April, May, September, and October when beach crowds thin). We finance golf-resort rental acquisitions in communities along Highway 501, Highway 707, and the Augusta area of Myrtle Beach where major course access is the primary amenity.
Long-term workforce rental acquisitions in Conway, Socastee, Little River, and Longs serve the Grand Strand's substantial year-round workforce of healthcare workers, hospitality employees, and construction professionals. These properties generate less spectacular revenues than STR vacation rentals but also require less intensive management, carry lower HOA and operating costs, and provide more stable monthly cash flows. We finance long-term rental acquisitions throughout Horry County's secondary rental markets, and many of our borrowers hold mixed portfolios — one or two STR vacation rentals for revenue upside alongside three or four long-term rentals for cash-flow stability.
CCU student housing acquisitions near the Coastal Carolina University campus in Conway attract a specific and reliable tenant demographic. Three and four-bedroom units configured for shared student occupancy achieve per-bed rents competitive with market-rate single-family rentals while concentrating revenue across multiple tenants, reducing individual vacancy risk. CCU's enrollment growth — tracking above 12,000 students — and the limited on-campus housing supply that pushes the majority of students into off-campus rentals create a rental demand base that has expanded steadily for a decade and shows no signs of reversal.
Portfolio acquisition and blanket loans allow investors to purchase multiple rental properties simultaneously — typically from a seller liquidating a rental portfolio — or to consolidate existing multi-property financing into a single loan structure. Portfolio acquisitions accelerate portfolio-building dramatically, and our blanket loan structures accommodate the complexity of multi-property acquisitions with streamlined documentation and terms reflecting aggregate portfolio performance.
STR income underrepresentation in tax filings is the most persistent financing obstacle for Grand Strand vacation-rental investors. Short-term rental revenues flow through Airbnb and VRBO with significant platform deductions and legitimate operational expense deductions, resulting in Schedule E net income figures that substantially understate the property's actual gross revenue. A $70,000 gross STR revenue property may show $25,000 or less in Schedule E net income after management fees, platform fees, cleaning costs, supplies, and HOA dues. Conventional mortgage lenders who apply standard income analysis to Schedule E figures systematically underestimate the borrower's actual financial capacity. We evaluate STR income using gross revenue histories from platform statements rather than net income from tax returns.
The SC 6% non-owner-occupied property tax assessment creates cash-flow modeling errors for investors who apply the 4% primary-residence rate to investment rental properties. The difference is material at Grand Strand rental property price points — $1,000 to $2,000 annually on a $400,000 to $500,000 property — and accumulates significantly over multi-year hold periods. We apply the correct 6% assessment rate in all rental property underwriting and recommend investors do the same in their deal analysis.
Coastal property carrying costs — flood insurance, windstorm insurance, and HOA fees — are higher than equivalent inland property costs and must be incorporated into rental investment cash-flow projections. An oceanfront condo generating $70,000 in STR revenue may carry $400 per month in HOA fees, $250 per month in flood insurance, and $200 per month in windstorm insurance — $850 per month in carrying costs before principal, interest, or maintenance. Investors who model only PITI without coastal-specific carrying costs routinely overestimate net cash flows. We model these costs explicitly in every rental property underwriting.
Our rental property lending emphasizes accurate income analysis and sustainable leverage rather than maximum loan amounts that create negative cash flow. We evaluate rental acquisitions based on realistic rent projections — using platform revenue data for STR properties and market-rate comparable rents for long-term rentals — and realistic expense projections including coastal property carrying costs at the correct SC 6% assessment rate. If a property doesn't generate positive cash flow at our loan amount and terms, we tell you — and we discuss whether a lower purchase price or different loan structure could make the deal work.
Loan amounts run to 75 percent of acquisition price for performing rentals with documented income history, and to 70 percent of ARV for rental acquisitions requiring renovation before achieving market-rate rents. Terms of 12 to 36 months provide adequate time for value-add execution and seasoning before conventional refinancing. Interest-only payment options maximize cash flow during early ownership periods. No prepayment penalties — conventional refinance at any point that rates and property performance warrant.
We provide rental property financing throughout the Grand Strand and surrounding South Carolina communities, including Myrtle Beach (Carolina Forest, Plantation Point, Dunes Club area), North Myrtle Beach (Cherry Grove, Ocean Drive, Crescent Beach), Surfside Beach, Garden City, Murrells Inlet, Pawleys Island (Litchfield, DeBordieu, Hagley Estates), Conway (CCU corridor and downtown), Little River, Loris, and all areas within Horry and Georgetown Counties.
We finance single-family long-term rentals, STR vacation-rental homes and condos, golf-resort rental properties, CCU-adjacent student housing, small multi-family rentals (duplexes through fourplexes), and larger multi-family acquisitions. Both long-term leased rentals with documented occupancy history and new STR acquisitions without operating history (evaluated using market-rate projections from comparable active STR listings) are eligible. Properties must be in South Carolina or adjacent NC border markets within our lending territory.
We evaluate STR income using gross revenue histories from Airbnb and VRBO platform statements, property management reports, or market-rate STR revenue projections from comparable active listings in the same community. We do not rely solely on Schedule E net income from tax returns, which systematically understates gross STR revenue due to platform deductions and legitimate operational expense deductions. For new STR acquisitions without operating history, we use Horry County seasonal occupancy benchmarks and comparable-listing revenue data to project supportable income.
No. Unlike conventional lenders who cap investor financing at four to ten properties, we evaluate each rental property acquisition on its individual merits and your overall financial position and track record. Active portfolio builders who are acquiring two, three, or four Grand Strand rental properties per year can close sequential loans with us without hitting artificial portfolio limits. We monitor aggregate leverage and debt-service coverage across your full borrowing relationship rather than applying per-property count caps.
We apply the South Carolina six-percent non-owner-occupied assessment rate to all investment rental property cash-flow projections. Investment rental properties in South Carolina are assessed at 6% of fair market value, not the 4% rate applicable to owner-occupied primary residences. On a $400,000 rental property in Horry County, the gap between 4% and 6% assessment translates to approximately $1,200 to $1,600 in additional annual property taxes at current millage rates. This difference is material to accurate cash-flow modeling and must be incorporated in investment analysis.
Yes. Cash-out refinancing on existing rental properties is a standard product in our portfolio. We provide cash-out and rate-term refinance loans on existing Grand Strand rental properties with no seasoning requirements — if your property has appreciated through renovation, market appreciation, or both, we can refinance and extract equity immediately regardless of how recently you acquired the property. Cash-out proceeds are commonly used to fund down payments on new rental acquisitions, renovate existing rentals to achieve STR-ready condition, or diversify into different rental property strategies.
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