Advice for a young entrepreneur: Vacation rental properties

I would like to thank you all in advance for your time reading/responding to this post, anything you have to offer would be very helpful and appreciated.

I am planning on pursuing a venture in real estate, specifically specializing in vacation rental properties. First I’ll start out by giving some basic info about myself and my situation.

I currently am 19 years old, live in PA and in the last semester of getting my Associates degree in Business Administration. I perform very well in school, as my current GPA is 3.94. This summer I will be moving down to the Myrtle Beach area with some family friends. I have already applied and been accepted to Coastal Carolina University so I have the option of going there in the fall if I would want to. My major at coastal would be Finance. A few months ago I was offered a job doing financial related work (taxes, accounting, consulting start-ups), which I took, so I do have a job. I will be able to keep that job once I move down to Myrtle, so I would have income coming in while pursuing the real estate venture. This job does not take up a large portion of my time, so I would still have a lot of time to focus on the real estate business.

I have secured financing, not sure the exact amount yet, the details still have to be ironed out, but between 50-80k, with a low interest rate and the investor is very willing to be flexible. So to me, on the financial side of things, I am in a fairly good position. Keeping it very general, I am going to focus on locations on the beach/a block from the beach, and also properties within the vicinity of 2+ golf courses, as I believe they have the most potential. The goal would obviously be short-term rentals. I also plan on hiring a property management company, but I will be as involved with everything as I possibly can be. Over the summer I am also planning on becoming a licensed real estate salesman, that way in three years I will be able to apply for a broker license and act independently, abling me to solely broker my own deals.

To wrap things up, here are a few questions I would love your input on:
Opinion on what I should do with school? Should I even bother with going two more years?
Would it be a good move to get real estate licensed in my situation?

Any other comments, advice or concerns would be greatly valued and respected.
Thank you all again!


There is a lot of competition in the vacation rental market. Vacation rental income is seasonal but the expenses of ownership and upkeep are yearround. Management fees for vacation rentals and turnover costs can be expensive, too. Suggest you make your first real estate investment an annual rental so the property pays for itself with minimal involvement on your part. Professional property management is a good idea too, but expect management fees to run in the 12% - 15% range. As you acquire more properties, you can negotiate a fee reduction for multiple properties.

Furthering your education is never a bad choice. Myrtle Beach has a surplus of licensed real estate agents, many have to work second jobs to put food on the table. Definitely, keep all your prospects open, stay in school.

Once you get to MB, you may find that properties near the beach are way out of your price range. With over 100 golf courses in the area, getting something on or near a golf course will be easy (almost every property is on or near a golf course), but properties on or near the ocean command premium prices.