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
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.
@Manish Waj In my limited experience PCB is a break even area. If you self manage (which nearly everyone on this forum will recommend) you can make a few bucks. The condos on the beach are tough with the HOA and fees and non warrantable loans. If you're looking for a spot to enjoy a few times a year that'll break even or make a couple bucks that should be no problem.
Talk to @Avery Carl at the short term shop she’s top dog in vacation rentals
This was typed on an iPhone while on the beach in the Florida panhandle
@Lucas Carl How does your nightly rate there compare to what you’re bringing in in the mountains? (Is your baby enjoying the sand???)