All Forum Posts by: JD Monroe

@Josh Maier Can you help him?

@Sheeva R. When you say you have been looking at the Emerald Coast... where exactly have you been looking? What location and also what platform/wholesalers are you looking at properties on or from?

When you say "Numbers that actually work" what and how are running numbers? What are your expectations and price range?

I haven't come across a specific website but I think getting into some of the facebook groups like the Panama City Snow Birds facebook page can help. You cant post your rental there but you can network and get some good info.

https://www.facebook.com/group...

Good morning!!

I am in PCB, Have a great team and we are always excited to help new investors and agents. Have you gone to any of the local meet ups in the area? There is a ton of value in networking with other investors! Reach out if you need anything! 

PCB doesn't allow STRs inside the incorperated PCB. The un-incorperated PCB does. What this means, for the most part is, is the far west side and the far east side are fine besides a few of the HOAs. The best way to find STR authorized SFRs is to have an agent set you up on a STR drip off of the MLS.

The HOA just had an assessment to pay for raising the beach side of the property that was sinking. I think it will be paid over the next 4 years. make sure you get the details about that and account for it when you run your numbers.

@Joshua Savage this is the market I am in! Would love to connect.

@Alice Schweiss. We paid the PM 25% of rents and fees

@Alice Schweiss we wholesale and have some short term rentals in Panama City Beach Fl that my wife and I own with our business partner. We decided that the best way to handle the owner use is by agreeing on a “friends and family” price that is the minimum price per day to cover all bills for the month. When ever an owner stays at the properties they pay all cleaning fees and the minimum daily rate.

There are good PMs but I would definitely recommend interviewing at least 3. We have started managing ours because we had a horrible experience with the first ones we hired.

We are buying a STR condo in PCB and Dec-Feb our PM stated it could be as low as 15% occupancy. Therefore they recommend making it "snow bird" friendly for those months. Also, each set of condos and town homes will have their own vacancy rates, so it is best to check with your PM early in the buying process. One more thing to note is currently there is a shortage of LTR do to families being displaced from the hurricane. This is driving STR rates up and vacancy rates down, but will correct as more units are rehabbed.