First time buyer STR in Panama City beach area

Real Estate Agent · Muldrow, OK · Member since 2016 · 2 posts · 1 vote

I live in Oklahoma but am looking to 1031 exchange for a STR in the Fort Walton to PCB area. Those of you that have done this before please help me decide which way to go for the best returns. There are so many options between a house near beach to a condo on the beach. HOA's scare me a little with the assessment fees and all the possible surprises. Bad areas, old condos, no STR areas, it's al lot, any and all advice is appreciated.

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Raymond J. RodriguesBusiness Member

Lender · Miami, FL · Member since 2017 · 1k+ posts · 797 votes

@Mark McGuire if you are open to doing a STR in other areas of Florida with stronger returns and less risk, I strongly recommend reaching out to @Josh Green who is local to the Tampa Bay area. He has helped a ton of BP investors in a similar situation as you, successfully purchase STRs with very good returns. He is an investor focused realtor and investor himself. He is a one stop shop when it comes to acquisitions, staging and managing. I hope this helps!

[email protected]619-456-8311

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Jason WrayPro Member
Banker · Nationwide · Member since 2020 · 2k+ posts · 1k+ votes
1y
Mark,
Feel free to reach out to me this week or weekend I can navigate you on how to get it started and what to avoid. There are also some good tips on getting access to the cash instead of using all of the boot. Panama is great and the STR is on fire in a few areas and condo's just need to avoid the higher HOA ones.
Check out my profile and email me I can help offer some free tips and I am also in Florida so I know the area well.
[email protected]727-637-4289
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Raymond J. RodriguesBusiness Member
Lender · Miami, FL · Member since 2017 · 1k+ posts · 797 votes
1y
@Mark McGuire if you are open to doing a STR in other areas of Florida with stronger returns and less risk, I strongly recommend reaching out to @Josh Green who is local to the Tampa Bay area. He has helped a ton of BP investors in a similar situation as you, successfully purchase STRs with very good returns. He is an investor focused realtor and investor himself. He is a one stop shop when it comes to acquisitions, staging and managing. I hope this helps!
[email protected]619-456-8311
Helm Mortgage Corp.5127 Reviews
Website View Page
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Bri Bowhall
Real Estate Agent · Panama City Beach, FL · Member since 2025 · 11 posts · 12 votes
1y
Quote from @John Bryant:

We are very familiar with the market. We Currently have 16 STRs all in PCB. We are selling a few if you are interested? Off market. Also let me know if you have any questions I'd be happy to help.
Here's a link to all our current STRs. Let me know if you'd be interested in any of them. They start at just under 1M. All New construction and less than 2yrs old.
https://www.airbnb.com/users/show/489118063

Hey John,
Have you ever been to the local investor meetups? If not, you should definitely check them out! I think you'd be an awesome speaker to share some of your STR knowledge with the group.

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Trent Reeve
Atlanta · Member since 2022 · 710 posts · 640 votes
1y
Quote from @Mark McGuire:

I live in Oklahoma but am looking to 1031 exchange for a STR in the Fort Walton to PCB area. Those of you that have done this before please help me decide which way to go for the best returns. There are so many options between a house near beach to a condo on the beach. HOA's scare me a little with the assessment fees and all the possible surprises. Bad areas, old condos, no STR areas, it's al lot, any and all advice is appreciated.

If you get interested in a condo, you can ask if they have passed their inspections and if they are looking at an assessment. I will say, most places in PCB, if they have an assessment are already in the middle of it so it shouldnt be a surprise. Also, most people forget, HOAs and their dues pay for things that you would have to pay for if you bought a house. Want a pool, most complexes have on, landscaping included, many also pay for water and internet/tv and insurance, tiki bars, coffee shops. Start adding up weekly/bi-weekly pool service, landscaping, insurance, not on beach (unless you have a very big budget) if you buy a house a block or 2 from the beach.
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John Bryant
Investor · Panama City, FL · Member since 2019 · 51 posts · 20 votes
1y
Quote from @Bri Bowhall:

Quote from @John Bryant:

We are very familiar with the market. We Currently have 16 STRs all in PCB. We are selling a few if you are interested? Off market. Also let me know if you have any questions I'd be happy to help.
Here's a link to all our current STRs. Let me know if you'd be interested in any of them. They start at just under 1M. All New construction and less than 2yrs old.
https://www.airbnb.com/users/show/489118063

Hey John,
Have you ever been to the local investor meetups? If not, you should definitely check them out! I think you'd be an awesome speaker to share some of your STR knowledge with the group.

Yep been to some a few years ago when Blake Dailey hosted for a while and been to a couple of Peyton’s at Fins. I’ll keep an eye out for the next one. 👍
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Account Closed
Investor · FL · Member since 2016 · 332 posts · 388 votes
1y
I own beachfront west of these areas in Florida. PCB, 30A, Destin and FWB are all different markets in a way and perform differently. All the 30A price vs returns I have seen currently make no sense. PCB I do not know as much or researched so make sure you get a great STR focused agent in those areas. I do know the PCB Toyato dealership actually will negotiate and people fly in to buy from there (love my Tundra from there:)
What I do know from Perdido Key, FL to Miramar Beach, FL I would only buy beachfront. It is more likely to pay for itself in the winter and cashflow March to October. In Condos, don't be scared about HOAs, but do read the last 3 years of meeting notes and the structural engineering report. It could be very beneficial. I just read minutes on one condo O am looking at and saw a different unit had lost all amenities' access due to lewd and public adult acts. That unit has been sitting on the market ever sense. With that knowledge one could make a ridiculously low offer with a high chance of getting accepted.
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Bri Bowhall
Real Estate Agent · Panama City Beach, FL · Member since 2025 · 11 posts · 12 votes
1y
Quote from @John Bryant:

Quote from @Bri Bowhall:

Quote from @John Bryant:

We are very familiar with the market. We Currently have 16 STRs all in PCB. We are selling a few if you are interested? Off market. Also let me know if you have any questions I'd be happy to help.
Here's a link to all our current STRs. Let me know if you'd be interested in any of them. They start at just under 1M. All New construction and less than 2yrs old.
https://www.airbnb.com/users/show/489118063

Hey John,
Have you ever been to the local investor meetups? If not, you should definitely check them out! I think you'd be an awesome speaker to share some of your STR knowledge with the group.

Yep been to some a few years ago when Blake Dailey hosted for a while and been to a couple of Peyton’s at Fins. I’ll keep an eye out for the next one. 👍

Oh nice!! Yeah I believe they are the 3rd Thursday at Finns. Would love to pick your brain!
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Andrew SteffensBusiness Member
Tampa, FL · Member since 2022 · 3k+ posts · 3k+ votes
1y
I'd recommend avoiding condos as well due to HOA issues, and if you are open to it looking at stronger markets in FL. I am in Tampa and the returns here are better than the panhandle. But if you have some personal connection to there, you should be able to make it work.
[email protected]813-563-0877
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Ricardo Hidalgo
Real Estate Agent · Member since 2019 · 569 posts · 257 votes
1y
Quote from @Mark McGuire:

I live in Oklahoma but am looking to 1031 exchange for a STR in the Fort Walton to PCB area. Those of you that have done this before please help me decide which way to go for the best returns. There are so many options between a house near beach to a condo on the beach. HOA's scare me a little with the assessment fees and all the possible surprises. Bad areas, old condos, no STR areas, it's al lot, any and all advice is appreciated.

Okaloosa island (fort walton beach beachside) is most likely condos on the water. The townhomes and single family homes are closer to the bayside but they can rent well depending on location. Plus they are doing a lot of development and zoning in Okaloosa island right now.
PCB is a bigger market and you really need to know which part of the beach to choose. It is the largest beach market with the most options. I have owned 5 STR in both areas and would be willing to connect via real numbers and current market data. Projections are great but most of them have been off during this year and last.
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Elenis Camargo
Property Manager · Jacksonville, FL · Member since 2018 · 514 posts · 470 votes
1y
Hi Mark! I know you mentioned Panama City Beach area but if you're open to Jacksonville, we have a fully furnished turnkey STR listed on the market at the moment that is generating over $40,000 in annual gross revenue. Let me know if you're open to looking at it.
I do agree HOA's are tricky to deal with especially when looking for an STR. A lot of them have restrictions where you have to rent it for a minimum of one month. We typically work with investors looking for long term rentals but most of them stay away from HOA's unless they can find one that's very low fees. Usually when are clients have an idea of what they want but are open to other strategies or types of properties, that is when we see them grow their portfolio the most. All has it's pros and cons. Hope this helps!
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Melissa HaworthBusiness Member
Real Estate Agent · The Panhandle | The Emerald Coast | Panama City Beach | Destin · Member since 2017 · 257 posts · 101 votes
11mo
Hey Mark, sounds like you’re doing all the right homework. I work with a lot of out-of-state investors looking in that exact stretch from Fort Walton to PCB, and yeah, it can definitely feel like a lot when you start comparing houses, condos, HOAs, zoning, all of it.

Condos on the beach can be great for STRs, especially if you're not planning to be super hands-on. But you're smart to be cautious. Some buildings have solid reserves and are very STR-friendly, while others have aging infrastructure, surprise assessments, or HOA rules that aren't always investor-friendly. Always a good idea to dig into the financials and STR rules before getting too attached to a unit.

Houses near the beach give you more control and no HOA headaches, but usually come with a higher price tag and a little more maintenance. Also worth double-checking the zoning since not every beach-close neighborhood actually allows short-term rentals.

You also nailed it when you said it can change block by block. A place that’s two streets back might sit empty while something closer to Pier Park or with private beach access is fully booked. Knowing the micro-locations really helps.

If it’d be helpful, happy to share what I’m seeing lately in terms of what types of properties are actually cash flowing and what areas are investor-friendly versus high risk. No pressure, just always down to trade notes with someone digging into the market.

Good luck with the 1031 exchange, you’re looking in a great spot.
[email protected]469-658-2869
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