Panama City Beach Condo

[Tim Koumoundouros]

Hi Florida BP community!

My family and I were looking to potentially buy a 2 bed/ 2 bath beachfront vacation condo in Panama City.  The plan is to mostly rent it out and use it a couple weeks per year.  My parents have visited the Destin area numerous times and love the area, but the prices of the condos there are quite high.  Panama City Beach looks much more attractive price wise and I am taking a trip down in two weeks to check the area out.

We have the financing basically figured out.  We have enough to chip in and cover the monthly carrying cost if needed and were hoping renting it out during the hot summer months would make it a nice mixed-use vacation/ investment property. 

I was looking to connect with a realtor in the area and possibly get some insight from other investors. I would like to use a management company for the property and would welcome recommendations if anyone has any.  Our family is spread out in Atlanta/ Chicago/ Minneapolis so we probably wouldn't self manage right away.

Also, with the pandemic I'm curious if demand has been picking up on the rental as well as the buying side.  From what I can tell from my preliminary searches, it looks like demand is starting to pick back up here as things open back up.  

I appreciate the insight and thanks in advance!

Tim

[Avery Carl]

@Tim Koumoundouros welcome to investing on the Emerald Coast! PCB is quite a bit cheaper than Destin as it had a bit of a stigma for partying in the 90s. The city has spent lots of money and imposed lots of regulations to make it more family friendly and unattractive to college spring breakers. The water and beaches are just as nice in PCB as they are n Destin. Because of the old stigma the prices are lower, but that will change over the course of the next decade as the spring break vibe gets further in the city’s rearview mirror. It’s a great place to invest!