Short term rental (preferably beachfront condo) investment PCB

[Adam Rose]

Hello all,

I'm looking to start getting some advice for purchasing a property in the next 6 months to a year in PCB. I've traveled there several times for the last few years and love the area. Ideally, the properties main use would be STR, but I love multiple exit strategies.

To start, I’d love to strategize with boots on the ground types in the following areas of expertise:

1). Investment focused real estate agents that understand the area and preferably own investment properties themselves.

2). Lenders that specialize in many loan types including conventional, vacation home loans, dscr to name a few.

3). Property managers that are vertically integrated and have their own handymen, cleaners etc on payroll. 

4). Any contractors/cleaners in the area that aren’t already too swamped to read this post.

5). Any investors in the area with success in unconventional terms of financing real estate ie subto, contract for deed, seller finance etc. 

My typical investment in Colorado has been around a ~500k purchase price, and I really strive to purchase property that is $20,000 to $25,000 under market value and that is break even cash flow minimum after operating expense/debt. This is something I would want to continue in PCB for margin of safety. 

Ideally, I would like something with unobstructed views of the beach. I’ve seen the premium for beachfront, but in my head never having a development in front you warrants it. 

I would love to hear from people in the area of condo complexes that have opportunity, are warrantable, and on the beach as well as what I’ll need to work on to be ready when opportunity arises. 

Thanks y’all

[Jeff Chisum]

Quote from @Sarah Kensinger:

@Jeff Chisum Is another lender that can help you with a vacation home loan. It will be hard to find a condo that is warrantable but there may be a couple still in the PCB area. Depending on the returns you're looking for in a STR, Destin may be a better area for you. PCB is great, but the returns are higher further west on the coast. If you decide to look around the Destin area, I have a wonderful realtor I can connect you with!

Thank you! 100% my business is helping with the financing to buy in the STR asset class. 90% of my clients use our unicorn 10% down second home occupancy loan that has lower fees and rates compared to Fannie and Freddie.