High rise Condos for STR investment at Panama City Beach Florida

[Lorraine Patterson]

Hello BP community, I've been researching condos to purchase in Panama City Beach Florida, they are in my price range and the beaches there are really beautiful, a place I can call my Vacation home, they are Airbnb friendly, but I'm unsure if buying a Condo as a STR would work, has anyone purchased in that area, if so how's it going, also in General is purchasing a condo a good strategy for cash flow as a STR, positives and negatives on that.... any small amount of advice would help for a beginner like myself, also how could I get a better idea of the Rental history on each property...... thanks!!!!

[Yolanda Salas]

Hi I live and invest in Panama City Beach - LTW is the best price for what you want to do, but remember its across the street from the beach.  The property has a great amenities package and boasts I have sold several units there to out of town buyers and my customers have been pretty happy with their results, but they are using property managers and they have not leveraged their purchases.  As an aside, Financing there will need to be done through local lenders that offer condo-tel products  unless your home lender will hold a portfolio loan, as this property will not meet Fannie Mae guidelines.