Updated over 3 years ago on . Most recent reply
First time buying in a new market for STRs market advise
Hey all So my buddy and I have this opportunity to buy a condo. It says Miami, but its really Panama City beach FL. It's 450k and brings in close to 300/night. Problem is I don't have a downpayment. I also need any insight on things to look out for in Panama City in terms of regulations and things I need to be aware of to stay in compliance with everything and everyone. If anyone has any tips, I would really appreciate it.
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#3 Short-Term & Vacation Rental Discussions Contributor
- Rental Property Investor
- Tennessee Florida
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#3 Short-Term & Vacation Rental Discussions Contributor
- Rental Property Investor
- Tennessee Florida
Panama City beach and Miami are on opposite ends of a very large state.
Id forget about this deal and focus on your cash. It’s called investing and right now you have nothing to invest.
Live Dave Ramsey style for a couple of years while reading theses forums and listening to the BP podcast to educate yourself. That’s what I did and now I’m financially free at 42.
Good luck!