Beach Vibes vacation rental Panama City Beach

[Joe Rohne]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $465,000
Cash invested: $25,000

With 2 other investing partners I run 3 bed 2 bath house 2 blocks from the beach.

What made you interested in investing in this type of deal?

I love cash flowing short term rentals

How did you find this deal and how did you negotiate it?

Found this on a market tour with my broker at the time.

How did you finance this deal?

DSCR loan with partners

How did you add value to the deal?

removed deck and poured patio, created volleyball court in backyard, had to finish bathroom and closets, added barn door, and all the furnishings and decor.

What was the outcome?

a cash flowing short term rental investment.

Lessons learned? Challenges?

Some remodel items are better to wait until the off season.

[Alice Chodkowski]

Hi Joe, 

Can you share your cash flow and how much it costs you to run it (cleaners, utilities, etc.) 

How much do you pay for Homeowners insurance (since you are close to the beach)?

Are you renting it out for a higher price in the on season versus off season? If so, how much?

Where do you advertise the property currently? Are you getting a good response?

I'm looking to do the same approach in South Florida where I currently reside but it's much more expensive here.

Thanks in advance for your info.