All Forum Posts by: Christine Barnes

Hi Todd,

Great questions.  It's located a block off of the gulf and it's just a couple of minute walk to the gulf.  No hot tub or pool.  We have been able to rent out January/February each year that we have owned it.  And, it has four baths, but we plan to add a fifth this spring so that each bedroom has it's own (currently two bedrooms share a bath).  It's been a very eye-opening experience for us.  We just were not sure about the rental potential off beach until we bought it.  It's been great! Thanks for the questions!

Hi Abhi,

There are still many great options in the area.  Feel free to reach out and we can chat about it.  It is one of the strongest short-term rental markets in the country.  

Best wishes,

Chris

Investment Info:

Single-family residence buy & hold investment in Panama City Beach.

Purchase price: $290,000
Cash invested: $20,000

Three story short term vacation rental.

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

Wanted to expand short term rental portfolio.

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

Realtor

How did you finance this deal?

Traditional mortgage

What was the outcome?

Approximately $50,000 in rental income per year.

Lessons learned? Challenges?

While we know that a purchasing a beach front property can be very successful in the short term rental market, can an "off-beach" property still have good rental potential? From this investment, we learned that an off-beach house can be a very successful investment. A large house (this is a 4 bedroom), can bring in large families and groups. The purchase price will be lower than right on the beach, but the rental potential is great.