STR rental - 1st time investor

[Manish Waj]

Hi, 1st time investor.

I am also interested in investing and have been looking at Panama City beach. Any advice on getting the best ROI. Basically didn't want to break the bank and stay less than 250k

I have been crunching the numbers and unfortunately with high HOA and restriction on lending, I am seeing a low cash on cash. Also PM fees are 21-25%.

Any advice would be greatly appreciated, or if I should explore a different area that ppl have had good success. TIA

[John Underwood]

1st you should self manage. You can do this from a distance.

2nd find a distressed property so that you can purchase at a discount to market prices. Foreclosure, divorce sell, estate sale, something that needs some cosmetic repairs etc.