Advice on STR in Panama City Beach
Looking into getting a STR in Panama City for my first real estate investment. I've grew up in the Panhandle and currently reside in the capital. It's seems like acquiring a unit in PCB would be a good first investment. Was Looking for input such as:
Is the market over saturated?
Would a beachfront condo be more marketable vs a townhouse a block off the beach?
Is anyone fimilar with condominiums that do better than others?
And overall is it a good investiment?
And any other general information is also appreciated.
I’ve been doing my research but would like some input from those actively in the market.
Thanks in advance
Most Popular Reply
Hey there! It's definitely not oversaturated. Since you grew up in that area you already know that 90% of the properties there were built to be short term rentals in the first place. So it's not that a bunch of new inventory is flooding the market, just that existing STR's are changing hands. I recommend single family homes (or townhomes) any walkable distance to the beach. If you go the condo route, you'll need to go beach front. Condos in this market will typically be non-warrantable which will require commercial financing so keep that in mind! Great area to invest.