Investor in Panama City Beach, FL

21 Replies

I am a full-time real estate investor in Panama City Beach, FL and surrounding areas. After checking the forums on and off the past few years I have finally updated my profile and decided to post. 

I got my real estate license in Akron, OH in 1999 and started working for and learning the business from local rehabbers (before the age of the "realty shows").  Shortly after I began doing my own deals. 

In 2004, during the boom,  I moved to Florida and have been here ever since. I left the real estate license behind and I mostly do rehabs. Currently, I am working on a few spec homes and I have also been involved in a couple small developments in the past. 

I have found some useful info here and I am looking forward to contributing in any way that I can and hopefully make some good connections.      

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Hey there, I'm an agent her in PCB and happy to offer advice on the market. I'm looking at doing a flip myself. I open to forming a team.

Just checking in on this thread to see if anyone is still active in the panhandle, FL area.  My wife and I had our first vacation rental built in Carillon Beach and are looking at building and/or rehabbing another.  Hope everyone is having lots of success down there!  

How's the vacation rental in Carillon going? I had a lot there that I was going to build on, but I ended up selling it and built a vacation rental in Laguna Beach instead. I really liked Carillon, but the rents there didn't seem like they would cover the premium of being in that neighborhood.  

Hey @Ryan McKimm ! It has been going very well for us. Carillon is at a premium but we have found a lot of people return year after year so that helps quite a bit. We bought our lot from a bank in 2013 so we got in at a decent price.

What are people building for in Laguna Beach? We have most recently been quoted at $165/sq ft to build in Carillon, so it definitely makes things tighter. Did you build a vacation rental or SFR?

My business partner & I are looking at building some more rentals in that area now that we are finishing up some other projects. The lots are few & far between in Carillon so Laguna & Inlet Beach are intriguing.

How are you finding your props? We have talked about working with a realtor but haven't solidified anything yet as we are just beginning the research project.

Hope things are going great for you!

@Ryan McKimm , what did you build in Laguna Beach? I have a lot there that we just decided it is time to build on. I'm going to start looking for a builder to get the ball rolling. Of all the Real Estate deals I've done, I've never built a house. I have to admit, it is intimidating me a bit. 

That price is about right for Cariillon. I built a 3 story vacation rental home near the Carousel. I'm almost 100% buy and sell and this will be my first vacation rental. Do your homework on builders! 

Yea, I'm doing the research now. Would you recommend your builder now that it is done? My lot is on one of the lakes. I want to find someone who knows how to do a walk out basement. But most builders around here look at me like I have 3 eyeballs when I mention a walk out basement. I should have Gulf views with two stories, but could go 3. 

I'm coming up on owning my vacation rental for a year, so let me know if have any questions about that aspect.

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I did a small 12'x18' lookout for the 3rd floor, but If I built again I would do a full third floor and a garage of some sort at least for storage. Let's just say I ended up finishing up the house on my own.  

Hi @Jeff Moore ! I would recommend my builder, JW Howard. Like most contractors, it took longer than forecast, but the home turned out beautiful and he did not add any costs to the end game. I was expecting some nickle & diming the whole way through but he stayed consistent with his quote.

Dealing with the back & forth between the builder and the bank was a challenge re: timeline. I've found most small builders just want to build houses and don't like dealing with the admin side of the house... So we had to Quarterback a lot more than we had planned w/regard to keeping the paperwork moving...but it was definitely worth it and we are looking to do it again.

I think another challenge is the timing of the market. Seems to me that it is "feast or famine" for contractors, so they have a tendency to take on more than they can handle at once, thus pushing their timelines back on all projects. I think the squeaky wheel gets the grease, so whichever builder you choose, I'd plan on being more involved in the process than not.

We also had an Awesome architect we worked with and would highly recommend him to anyone.

Have you found a builder yet? What lake is the lot on down there?

hi I'm a local flooring contractor. I know this is an old thread but I would like to recommend a builder I have done some work for. His name is Trey Timmons. He builds really nice houses. And he seems to take real pride in his houses. I'm not just saying this because I subbed for him. I have worked for several builders and he is the best. Im not sure how many he has built on the beach but he has built several in Lynn haven and Bayou George areas.

@Justin Hazellief thanks for the info! How long have you been installing flooring? You have certainly come to the right place for learning how to invest in real estate.

How long until you are looking to retire? I am a full believer real estate is the best way to long term wealth. So, welcome to BP!

I have been installing floors for 8 years now. I'm hoping to retire by 50. I know I can't work this hard forever but I would like to continue working and living off of my current income while I build wealth with real estate unless I start flipping houses full time. My wife and I plan on buying our first house by next year. I'm going to try a live in fix and flip or a duplex to fix and rent. Eventually I want to own several rentals but I don't really want to manage them myself. 

Hey, let me know when you're ready. I've been working on the same plan, and I'm a Realtor. I've been buying one property a year for the last 5 years. I'm getting pretty close to my goals. And there is a  great duplex on the market right now if you are ready to pull the trigger. I can set up an appointment to show it to you.

Thanks for the info Justin! I hear it is pretty rough around PCB to get good builders and GC's. I recently purchased a duplex on beach side I am house hacking and currently looking for the next deal. Huntsville, AL seems to be on the rise and from the looks of the numbers the ROIs are looking great!
Hopefully we can land a few here in town though. If I see anything come up I will give you a shout! Good luck and welcome to BP

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