Investing Rental Property In Panama City, Florida

[Jose Varghese]

Hello All, 

I am trying to purchase a house/rental property in Panama City, Florida. Currently i have  house in Miami ($500k approx) . I currently make 70k and My parents will be living in a Miami house I will be moving to Panama City for work and I need your opinion on how to invest in the next property that I purchase. what will be the best option for me to make sure I earn some money from my next property at the same time I will be paying my mortgage in Miami. 

Thank you

[Jossalyn Wallace]

Hi Jose! I would agree with the above as far as house hacking or considering a multifamily (or even a townhome with a lockout efficiency suite) so you can live in one and rent the others out and minimize your downpayment by using FHA. If you're planning on holding long term (even if you move out) I would try to buy within 10 minutes of the gulf and make sure the neighborhood is short term rental friendly so you have options when the time comes.

Our appreciation is generally very good and PCB is one of the better cash flowing areas here as long as you buy right. Good luck on the move and welcome to the area!