All Forum Posts by: Yolanda Salas

Are you an investor or want to learn more about real estate investing in the Panama City Beach area? Do you want to network with the likes of Bigger Pockets geeks, influential local business owners, local investor oriented realtors, and people passionate about creating a better PCB? We are a small but mighty group of local investors, realtors, & dreamers wanting to share our experience, resources, and goals in achieving financial freedom through real estate investing with others. We have a passion for mentorship & leadership. You'll typically find us DOING, rather than talking about doing. If you are a mover & shaker, this is the place to be and learn.  

A small group of us from bigger pockets have met and we have decided to form a monthly Bigger pockets meet up group to share investment info. I am not sure if we have a way to post an event within this forum.  We will be meeting at Fishale Taphouse and Grill on the first Wednesday of the month - first meet up is August 7th at 6-8 PM.  Feel free to message me - again - I apologize if I was supposed to place this event somewhere else in Bigger Pockets!

@Matt Everling I love using my SDIRA money to invest in multi family and other real estate.  I have yet to use leverage tho...  I started in 2011 when I retired from my corporate job and took about 50% of my 401K and rolled it to SDIRA to buy real estate.  That continues to grow as @Brian Eastman stated with consistent returns that up until the last year or so was beating the stock market. My strategy is the long game and eventually when I am old enough I will begin taking distributions to fund lifestyle. When I choose to use leverage (which I think I will be doing soon to build on some lots I purchased thru the IRA) the challenge I have is better understanding the filing/reporting/tracking requirements to pay UBIT... but I am not afraid of it! Good luck - it still feels to me like one of the best kept secrets for wealth building!

@Ryan M.. I will be interested in learning about your duplexes and informing some folks looking for places to rent - Please message me - I am also here in Panama City Beach! 

Send me a message - I have some ideas for you re local and non local lenders holding portfolio loans... 

Maybe speak with a local title company re viability of a clear transfer of title in this situation.  I would not know what advice to give you other than that at this time.    

Take a look at iTrip - we have a plethora of small mom and pops in PCB but you REALLY want a well managed company with strong marketing advantages... 

@Lorraine Patterson @Crystal Ball

I love your story @William Allen  thanks for sharing and being inspiring.

Hi - I have used Pensco Trust Company. I chose them as they are a custodian and have been in the business of SDIRA management since the beginning. I used to attend all their webinars to learn about it and then opened my account once I changed employers, moved half my 401k and have purchased income producing real estate, invested in a business, bought some land, and also now holding notes. Fees are charged quarterly based on asset value and the IRA pays the fees.

I agree with @Melissa Jolley @Darren Koenenn, Inlet Beach is up and coming - that last stretch before South Walton County gets super expensive!  If it's the development I am thinking of, as a new rental,  one concern would be guests having to cross over 98 to get to the beach.   For vacation rental, homes will earn more $$ the closer to the beach, and the communities that offer a lot of amenities or homes that offer a pool,  also produce better income.  

If you have not compared these new builds with existing inventory and condos, I recommend you do.  You really cannot beat the condo prices right now...at least in the Bay County side... make sure you investigate similar price points or even lower price points with the earning potential of condos, especially ones that have an existing rental history.  

Also keep in mind that homes have more maintenance requirements than condos, and insurance will be more costly. Many people look at condos and complain about the HOA fees, but frankly - you will have similar costs for a house. Most Condo fees cover water/sewer/trash/wifi, insurance, grounds, pools, other amenities, management of the facilities, etc. Buying a single family home means you're covering all these costs as well.

Don't forget about the additional upfront costs especially since they're new builds, furnishings, decor, electronics, cable/internet, small appliances, kitchen wares, window treatments, etc.    

Lastly, plan an exit strategy - if the STR income is not as high as it was projected, ie doesn't even hit the Good range, then what is your plan? Does the lowest range cover all your costs, PITI, HOA, Utilities, etc... Cash flow is king ...