Updated over 4 years ago on . Most recent reply
- Real Estate Agent
- Seagrove Beach FL., Corcoran Reverie Group
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Off Beach Investment
Investment Info:
Single-family residence buy & hold investment in Panama City Beach.
Purchase price: $290,000
Cash invested: $20,000
Three story short term vacation rental.
What made you interested in investing in this type of deal?
Wanted to expand short term rental portfolio.
How did you find this deal and how did you negotiate it?
Realtor
How did you finance this deal?
Traditional mortgage
What was the outcome?
Approximately $50,000 in rental income per year.
Lessons learned? Challenges?
While we know that a purchasing a beach front property can be very successful in the short term rental market, can an "off-beach" property still have good rental potential? From this investment, we learned that an off-beach house can be a very successful investment. A large house (this is a 4 bedroom), can bring in large families and groups. The purchase price will be lower than right on the beach, but the rental potential is great.