Top Airbnbs in North Myrtle Beach's Cherry Grove area are generating around $54,000 per year in annual revenue.
Snapshot · BiggerPockets Real Estate Podcast
Top Airbnbs in North Myrtle Beach's Cherry Grove area are generating around $54,000 per year in annual revenue.
Where this was said
At 19:18 · chapter starts 17:40
Henry Washington opens the short-term rental round by laying out his criteria: markets with above-average population growth, stable job growth, insurance costs near the national average, and — crucially — economies already built around vacation rentals. He wants markets where STRs are the norm, not a new concept that regulators might crack down on. Myrtle Beach, South Carolina checks every box. [1] — Henry Washington "Myrtle Beach pulls 18 million visitors a year, and investing in North Myrtle Beach's Cherry Grove area — outside the regulated city core — …" 17:40 With 18 million annual visitors, 60 miles of coastline, and 78 golf courses, it's one of the country's most established tourist economies. The incorporated city of Myrtle Beach has some STR restrictions, but North Myrtle Beach's Cherry Grove area is investor-friendly and producing approximately $54,000 in annual revenue per property. High season runs June through August at 70–80% occupancy and $260–$300 per night; even the off-season winter months hold around $223 nightly. The math demands a careful eye on the mortgage payment during the slow months, but the overall numbers are strong.
Myrtle Beach pulls 18 million visitors a year, and investing in North Myrtle Beach's Cherry Grove area — outside the regulated city core — lets investors capture $54,000/year in STR revenue. High season hits 70–80% occupancy at $260–$300/night.
Myrtle Beach draws 18 million annual visitors and has 60 miles of coastline and 78 golf courses, making it a proven STR economy.
Myrtle Beach STRs average 70–80% occupancy during high season (June–August) at $260–$300 per night.
Blue Ridge, Georgia sits between Atlanta and Nashville, drawing visitors from Asheville and Charlotte — without the Smoky Mountains' supply glut that's crushing STR returns nearby. Average daily rates top $350 and the best properties clear $100,000 in annual revenue.
Bhanu grew SiteGPT to $13,000 monthly recurring revenue entirely through organic channels, spending nothing on paid marketing.
More than 1 million people have visited SiteGPT's website since launch in March 2023, all through organic channels.
Approximately 90% of SiteGPT's Google search traffic comes from the free tools Bhanu built, not the main product pages.
Bhanu sold his first SaaS product, Feather, for $250,000 so he could focus fully on the faster-growing SiteGPT.
SiteGPT has generated approximately $500,000 in total revenue since its launch in March 2023.
The average customer lifetime value for SiteGPT is approximately $1,700 to $1,800, which Bhanu considers unusually high.
SiteGPT receives around 50,000 visitors per month, of which about 200 convert to leads and 60 start free trials.
SiteGPT hit $10,000 MRR within its very first month of launch, driven largely by early traction in the AI chatbot space.
Despite strong download numbers, PropGPT could not push past $1,000–$2,000 MRR due to poor product retention.
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