All Forum Posts by: Dennis Cobos

@Dennis Cobos I think PCB is probably the best option on the Panhandle right now. New lending rules coming up for second homes starting April 1, so a bit of an investor rush going on right now. But still there are options. Check out Gulf Highlands in PCT. A new listing actually came on today. Those are townhouses, not condos, so the financing is easier and the 10% down still works. The complex has great amenities. Also in PCB there are several other townhouse and single family home types listed that might be good options. Condos (if you wanna go through the financing ordeal) are still priced more reasonably in PCB because the inventory is more. So if you MUST have ocean view, PCB would be the lowest per sq ft right now. 

Check out Sunnyside and Laguna Beach. Very close to 30A. Not cheap (but cheaper than 30A), but I (subjectively as a "yoga on the beach girl" and also as an investor really like the area.

Good luck!

 @Erik Stenbakken - Thanks for the shout out, my friend

@Crystal Ball - As always, you have stellar info to share!! You're rock star in the area :) I highly recommend Crystal!

@Dennis Cobos - Demand has continued to be quite strong.  You can leverage several tools to build whatever confidence you need to pull the trigger along the Emerald Coast.  As an investor and agent in the area myself, I want to gather as many data points as possible to build my picture for my pro formas.  You can certainly leverage local property manager and the rental history of the property.  In general, you can expect to be underwhelmed with their numbers.  Pinging local investors/agents like Crystal is also a great data point for self management possibilities/projections.   I also recommend the enemy method, AirDNA, or Pricelabs, which all provide info to bolster your confidence.

Regarding comparing 2020 numbers versus today, demand and rental rates continue to increase with no anticipation lowering this year at all -- Best of luck!

I'm a very active investor realtor in PCB. The demand has far surpassed pre-2020 levels. I have some of the most accurate data in market to show these changes and lists of reasons why this market is such a hot spot for investors in the short term rental space. I re-located here 8 years ago after traveling extensively for 15 years in the convenience store industry and have spent the last few years testing every facet of real estate investing here. It's a challenging time to buy, but we have some great resources for creative solutions. Feel free to connect. Happy to share and discuss my favorite topic. :)

Dennis, I've shopped plenty there (not bought in that market yet -- plenty elsewhere). But I'm part of a Facebook group of owners in that market. It's called "STR Hosts of the Emerald Coast" -- and sounds 100% like what you're looking for. Reach out to @Matt "Roar" Gardner here on BP and let him know you're interested! 

all lenders offer vacation homes. vacation homes are not for renting though. If you've got a big enough day job to back up the mortgage then you'll qualify for 10% and you CAN put it on vrbo when you're not using it. But if you're running spreadsheets... it's a rental, and that's a different mortgage.

Anyway to answer your question, any lender CAN do second homes. If they're saying no it's because they're just not used to it. Call someone else.

Can't ask for recommendations here on BP so I won't give any.