All Forum Posts by: Jeff Moore

I'm also a Realtor in PCB and 30A. If you want to make cashflow 30A isn't the place, but you can still make money in PCB. I own 6 single family houses in PCB myself. I actually have 2 of my properties on the market. One allows short term rentals and one doesn't. The price of my STR is $750K. If you're interested, I can send you the listing info and show you the actual rental numbers. A lot of realtors will list properties and give you a proposal of what the property could potentially do in rental income. If you're a new investor always take these with a grain of salt. Also, 2023 was a down year for rentals everywhere. and 2022 was a high year for rental income. So, try to get a couple of years of actual rental income if you can. When I show my rental to potential buyers I give them 3 years of rental history with the average utility expenses and what I paid for taxes and insurance over those last three years as well. 

Jeff Moore 

Bay to 30A Realty 

850.890.3263

[email protected]

I own 6 properties in Panama City Beach and one in Puerto Rico and I'm also a Realtor in PCB. I started buying my properties back in 2011 so it is a lot easier for me to turn a profit. But, you can still make money in PCB with STRs. There is a lot of good advice in this thread already. The key is to be able to stand out. The markets are over saturated and most of the properties all look the same. Asking if you can make money with a STR is like asking "how much does a house cost in Florida?"... It depends. I'd be careful with high rise condos in FL right now. Things are a bit tricky with new regulations on older buildings. I'd be sure I know how much insurance costs if I'm looking at a SFR. All of my properties are houses and my insurance has doubled in the past couple of years, and I wouldn't be surprised if it doubles again in the next five years. I would recommend getting a Realtor that owns STRs themself. They have a better idea of what to look for and what to expect and how local laws work than someone who doesn't actually own rentals. Last year was a tough year for STRs everywhere. So the people who just bought expensive properties panicked and lowered their prices and they are competing with people that have owned their properties for years and have higher profit margins. I worry it could be a race to the bottom if things are slow for several years. But, I think if we have a good couple of years rental prices will come up to accommodate the new prices people have to pay now to get in the game. There is no secret get rich quick scheme out there. Returns are going to be lower in real estate for the next couple of years but I think returns on the stock market are also going to be lower over the next couple of years. I have a condo listed for $275K and a house listed for $750K and they can both turn a profit you just have to be efficient and work a little harder than you used to.

Your plan is solid. I went broke in 2008 when the real estate market crashed. I moved to PCB in 2011 and scratched together enough money to buy a small house close to the beach. Then I scratched together enough money to buy a duplex. The rent from one side of that duplex paid the mortgage of the duplex and the other side paid the mortgage on my small house. Then I was able to save money faster and bought one house every year. Now I own 6 houses in PCB and one in Puerto Rico. I'm also a realtor in PCB. This town has been very good to me. I'm happy to help if you need a Realtor in PCB. In case you don't work with me I'll also give you the secret to not going broke like I did in 2008. I was buying houses with no money down loans so I had no equity. When the prices dipped I couldn't sell them, and I had no cash reserves to hold on when properties sat empty. So get the first one or two with small down payments to get started but then work on putting at least 20% down after number 2. And ALWAYS have at least 6 months of reserves to cover all your mortgages and expenses.

Hey Leland, I'm a Realtor in PCB. I also own 5 properties in PCB. I have a house in Laguana Beach and 2 townhouses in Sunnyside. I think this area is still one of the most affordable beach communities to buy property. Like every beach town, competition for STR's has increased over the overs. Everyone is doing the exact same thing as far as decor and design. I don't think it would too difficult to do a few things to stand out and increase your returns. Especially if you are building something new. I'd be happy to help you if you. I can set you up to get property alerts for lots in PCB. I always say "if you want to buy an investment property you need a Realtor that owns investment properties". So if you don't choose me I would suggest you follow that rule. Let me know if need any help.

I have some great tenants in a unit and last year was the first time I raised their rent in 3 years. I felt bad about doing and kept putting off the phone call. When I finally did it they said "we understand, we have been expecting this call for like two years". So if you do it little by little they wont mind.

I'm in Panama City Beach Florida and you can still properties that make money here. I just listed a condo on the beach for $389K that would be a money maker.

I think the mindset side of it is the ability to control your investment. I've always been a real estate buy because I think the success depends on me. Putting money in the market is terrifying to be me because I just put it in there and hope the world doesn't blow up and take all my money. With that being said, I've always saved every penny in order to buy the next real estate deal. Now I'm done buying real estate and I'm starting to put my money in the market. I think my mindset is different now, because I don't "need" the money like I used to. So as things go down in the stock market, I'm just buying more and I'm not freaking out like I would have when I was younger.

My short term rentals seem to be slower this year than last year. I was on a local FB group and noticed many people complaining their numbers where down too. So I thought I'd get a broader view of this by seeing if others around the country are seeing their numbers down from the previous year. The consensus locally was a sentiment that gas prices are up and inflation is high and they are hoping people will book last minute to see if costs go down and they just aren't booking as far out in the future. What are your thoughts?

Hey, I see it's been a couple of months since you posted this. Did you find someone to help you? I'm a Realtor in PCB and I own 6 rental properties in PCB. I know where you can do STR's and where you can't. I also know what makes a good STR for SFH because none of the properties I own are beach front condos. I'm happy to help if you still need it.

@Ben Lukes It went well. I've been here for 18 months now. I have my real estate license and I'm loving living on the island. Let me know if you need any help with anything.

@Dell J. We are also starting a Property Management Company if you need any help with your rental. A lot of the FEMA people are leaving and people are starting to look for renters.