Misc 650K to 850K on 30A - Best location for the $$ for rental return

[Jami20]

Hi All,

I have a client who has to do a 1030 exchange and will be putting it into a property somewhere on 30A. (He knows it's maybe not the ideal time to buy there, but he sold other inflated properties and has to put this somewhere. Wife wants 30A for retirement.) What area/community would you recommend he look at for the best possible rental return?

The budget is around $650k to $850K. The number one thing he is looking at is rental return, then if he uses it some in the winter that's a plus. So primary considerations are demand and rental rates.

He's not locked in to any specific area more than others, but his agent keeps showing him Prominence, Seagrove and around the west end of 30A. He prefers a single family residence but is open to a condo if it's on the beach side.

Prefers a less crowded beach and definitely beach access, but at the end of the day the $$ return is most important to him.

Thoughts? Any specific areas I should tell him to avoid or to look more into? Just looking for alternative opinions that aren't from a real estate agent.

 

[James Bentwood]

Can you even find a sfh that cheap anywhere near an access these days? And by near I mean a half mile.

 

[Camp Creek Kid]

Hi All,

I have a client who has to do a 1030 exchange and will be putting it into a property somewhere on 30A. (He knows it's maybe not the ideal time to buy there, but he sold other inflated properties and has to put this somewhere. Wife wants 30A for retirement.) What area/community would you recommend he look at for the best possible rental return?

The budget is around $650k to $850K. The number one thing he is looking at is rental return, then if he uses it some in the winter that's a plus. So primary considerations are demand and rental rates.

He's not locked in to any specific area more than others, but his agent keeps showing him Prominence, Seagrove and around the west end of 30A. He prefers a single family residence but is open to a condo if it's on the beach side.

Prefers a less crowded beach and definitely beach access, but at the end of the day the $$ return is most important to him.

Thoughts? Any specific areas I should tell him to avoid or to look more into? Just looking for alternative opinions that aren't from a real estate agent.

They will be very lucky to find a stand alone home on 30A for that price. There aren't even many under $1M Likely what they are looking at in Prominence is the triplexes on the north side of 30A, which is a terrible development, in my opinion. It is way too crowded. There is also no beach access. The plus is that its walkable to The Hub. There is a nice pool but its probably too small for the amount of triplexes there. Their property search is going to be about their price range and they are not going to be able to specify an area or whether or not the beach is crowded. Condos close to the beach in their price range will be under 1K square feet, if they can find one. This is a crazy market and nobody knows what the return on investment will be. If they want to rent out their property it will need beach and pool access. A private pool is preferable, but a decent sized community pool will work as well. I suppose if they are planning for retirement, then they are more interested in a long-term investment in which case they can't go wrong with something on 30A. There really isn't an area "to avoid" on 30A, except maybe Prominence. The West end of Panama City Beach is also a good place to look. Much more affordable.

 

[bob bob]

Prices are on a rocket and the closer you are to the Gulf the faster it is going.

 

[Summer10]

Have your clients found a home?
If not I have one for you and I am not a realtor.

 

[Jami20]

Have your clients found a home?
If not I have one for you and I am not a realtor.

Hi Summer,

They haven't yet. It looks like they will be closing on the sale of their 2 properties this week and will be beginning their 1031 exchange period at that point. Please feel free to send me any info and I can pass it along.

 

[Summer10]

Hi Summer,

They haven't yet. It looks like they will be closing on the sale of their 2 properties this week and will be beginning their 1031 exchange period at that point. Please feel free to send me any info and I can pass it along.

Could you give me your email address and I will give you information or send me a personal message I couldn’t find a way to message you

 

[Summer10]

Jamie you or your clients can email me at fnulnu48@gmail.com