All Forum Posts by: Peter G.

The property you purchased needs a new roof among other things.   I am hearing $60K to 100K over the next two years.

Hello,  I live in Panama City Beach and it is a great place for short term rentals.  

Happy to discuss Panama City Beach

Hello.  Do you need a real estate license in Florida to manage short term rentals for other people's property.  I understand there is a gray area and it may not be required 475.011 (11)

Congratulations.  You bought in an area where there will be tremendous growth.   

I disagree with the comment PCB is not that nice. Did you visit the area? Did you see all the recent developments? The towns of 30A and Destin will not have the same ROI as Panama City Beach due to high price appreciation over the past eight years. An inventor will look at the emerging areas with high ROI not established areas with low ROIs.

@Melissa Jolley Yes the property is nice and at the right price it may be worth a shot. But they are asking for a buyer to pay the 10% auction price and you will need to furnish the condo. So the auction prices for the ones not selling with no limit prices are not great and the HOA takes away much of the profits.

In my opinion i would stay away from Shores of Panama especially the auction they are having in December. HOA fees are extremely high and will probably head higher in the future as maintenance issues need to be addressed

Craig I would use caution doing 5-6 month lease in the off season.  I stopped doing 1-3 month leases in the off season since I found it to be unprofitable. 

I made the decision several years ago to not rent out to snow birds.  Snow birds I found in my experience to make frequent maintenance requests which turned out to be non issues like not knowing how to use the AC or TVs but costed me money and they ran up the power bill.  With the rising occupancy in PCB in low season it did not make sense any more to rent out my condos on a low monthly rate.