Eric Leitten discusses real estate on the Emerald Coast/ Florida Panhandle. Specializing in resort style real estate and being an investor/operator himself, he dives into detail on the local short term rental market (AirBNB and VRBO). Covering Panama City Beach Condos all the way to Destin Beach Houses, and also highlighting landmarks and favorite destinations in the Panhandle. Eric is also a veteran of the United States Air Force and has personally utilized a VA loan to acquire personal residences, investment properties and house hack. He especially enjoys working with veterans and active duty, imparting wealth building strategies through real estate.
Tootsies started in Nashville…where I am…we always went to the one in PCB. Bummed about it moving out of Pier Park, but Steve will make it great at the new location!!!
I see they confirm Panama City on their Facebook page as an upcoming location. Interesting! I wonder where they are planning to build? I’ll have to look more into it
Some of my coworkers have purchased condos in Panama City Beach for their retirement about 8 years ago. Sadly, the rising HOA fees and insurance have made it almost impossible for them to retain their properties. They're planning to sell their condos in the very near future and moving back to Alabama.
Thanks for watching. Condo Master Insurance policies are pretty exotic compared to a standard homeowner’s policy. There are only so many providers in Florida; the herd got thin after Hurricane Ian caused so much damage. The increased costs from the association is mostly from insurance hikes. Most of the Gulf Coast States are seeing increased costs to own. Florida is on the higher side because of the Hurricane risk. Also age and upkeep of the building are a huge part of it too. So it’s important to review all the details.
Absolutely the white beach in the gulf is great. Once you experience this you should never want an east coast beach again. My mother in law as a condo my wife manages. Heading down tomorrow. HOA and maintenance cost gee week ridiculous.
Thanks for watching. Completely underrated beach and at a lower cost than most other coastal markets in Florida. The insurance cost is affecting condos all over Florida. Definitely a tougher market for would be condo buyers. Looking to add some color on this topic with some more content soon.
He hit the nail on the head, we are just starting out in wanting get a rental in destin but im watching as much as i can about the areas. We dont need to make bank on it just not be a negative and allow it to be our vacation home. If we enjoy it over the next 5-10 years, as much as we have vacationing in destin the the last 3 years. We would look to purchase a home to live in and keep the rental for friends and family to visit and rent out otherwise.
Thanks for watching, that’s the current mentality condo buyers have to take. Covering cost should be the goal. There are benefits to having rent pay down your mortgage plus tax benefits. The crux of the decision should be that you enjoy the area and want to spend more time down here. Buying a condo gives you stake in the market and the ability to trade via 1031 in the future. Many that want to retire on the beach make a pre retirement play to get into the market through STR. William, give me a shout to discuss.
Hey. I live in pcd and own a floor business i do tile fencing decks a little of everything there's really nothing i can't do. And my wife cleans condos. Might be able to save you a boat load of money.
I’m interested in Lake worth for a second home and eventually renting it out down the line. I would be a first time condo owner. Would you recommend this? How much are the HOA’s for lake worth for 2024? Does the HOA depend on the size of the unit? What about the state inspection for that condo? Thanks Steve
I’m located in the Florida Panhandle probably about 10 hours from Lake Worth. Every condo is going to have a different expense profile and maintenance history. I’d recommend getting in touch with an agent local to Lake Worth.
We are looking to purchase our first condo investment property. What are your thoughts on Gulf Highlands. We like that it is more budget friendly for young families on vacations. We like that it is pet friendly and many are walk up without an elevator. Is GH financially stable . Great video
Gulf Highlands definitely carries less exposure compared to high rises directly on the beach. Specifically in the Master Insurance department. It’s a good conservative approach and should have some decent rentals, especially if the unit is updated.
I’m hoping to see some downward action by the end of this year. Definitely a lot of unknown variables and bridges to cross before we know one way or the other. The trend seems to be favoring higher rates for a while longer though.
I cannot wait until McGuires comes to PCB. We rent condos right across the street. I use the parking lot as a place to run while in town. But it would be amazing to have that Irish Pub with good food right there. We can walk there and not have to drive. So nice.
Same here! We love West PCB. McQuire's is definitely a needle mover and a very exciting new attraction to the area. West of Pier Park is known to be a bit more quiet. McQuire's fits in nicely offering a big named attraction, some live music and nightlife even. The news has been pretty quiet on the projected open date. I'm sure the building requires a lot of attention to get up to speed.
Yes, that building was in rough shape last time I was there. We will be there soon and I will have to see if I notice some drastic improvement. I came across a news article from Spring of last year with a projected Spring of 2024 date for open. I hope that is the case, but I worry it needs more work than they know. We shall see. Love your channel so far. Keep up the good work.@@emeraldcoastabode9685
we get more rain storms more flooding and our gov just thinks he can go run texas and worry about running for the white house well now he lost that so will he get back to running florida or will he start fighting with people
i live on the east cost its completely expensive and desantis is no where to be found when it comes to that florida will only keep pushing the ritch not the poor
they just said that florida is do now for more storms and thats do right now when the cold is up north we get storms and flooding and desantis can go have fun adding it up to on top of that cost of liveing
I appreciate your enthusiasm on Hallandale Beach. I have been through most of Florida, but haven’t been. I prefer the laid back vibes in the Panhandle to the busy South Florida life, maybe in my 20’s. There’s something for everyone in this great state.
I appreciate your enthusiasm on Hallandale to comment not on one, but two of my videos. A lot of people will prefer South Florida to the Panhandle and vice versa. They are two different speeds. Me and mine prefer the laid back Panhandle and its powder white beaches.
Thank you very much for this wonderful video and for these important tips. Honestly, I visited Turkey. The sea is not good and also not clean. The sea in Panama is clean and good, according to what I see on TV. I have not visited Panama before. What I see on RU-vid about Panama. Panama is a good country for tourism, and so is Cuba. The sea is very good.
Thanks for watching, Panama City Beach, Florida is different than Panama City, Panama. PCB was actually named after the capital of Panama to ride some of the notoriety of the Panama Canal at that point in time.
There’s definitely some caveats with Florida living. Storms, gators, and the infamous Florida Man. There are some pros, I like to think the sunshine and negative ions have done this pasty kid from Buffalo some good. I can’t seem to leave the FL Panhandle.
Forgot to mention the annual Madi Gras Parade in Panama City on Feb 2-3 this year there and the following week in Panama City Beach. Good Times with good people.
I did forget about the parade. There are a lot of events throughout the year. A lot to keep up with for sure. There’s some new attractions coming to the beach. Was thinking about making my next video on the new developments coming. Several of them won’t come online until 2025, but there is a lot of excitement around them. Make sure to subscribe 😉. Thanks for watching!
I camped at St Andrews State Park a few years and just had a great time there. Met some veterans at Patches Bar & Grill and shared those old Service stories. One of my favorite places to enjoy and I have traveled most of Florida’s coastlines.
St Andrews is awesome! Glad you enjoyed your time there. PCB and the Panhandle at large has many of us veterans around, with Tyndall and Eglin nearby. I was on Eglin myself in the early 2000’s. Thanks for serving!
Tourism is a huge part of the economy around here. Sure there’s folks that get grumpy during high season with traffic etc, but this area wouldn’t be the same without it.
Thanks for watching. If you're interested in renting out Emerald Isle 2103 book direct on our website: whatsupbeachrentals.com/properties/new-2103-emerald-isle/ If you have any questions about real estate on the Emerald Coast of Florida, shoot me a text: 850.496.1671 Eric Leitten
If you have questions on the market. Book some time with me to chat: calendly.com/book-ericindestin/chat-with-eric-leitten Need to book your next getaway to the PCB or greater Emerald Coast, check out our condos: whatsupbeachrentals.com/
Thanks for tuning in! If you like the backdrop in the video and are thinking of coming to play on the beaches of PCB in 2024, I've included the links to the rental listings of the two condos I shot from at Laketown Wharf: Amber Sol @ Laketown Wharf: whatsupbeachrentals.com/properties/new-amber-sol-at-laketown-wharf-unit-1123/ Your Paradise @ Laketown Wharf: whatsupbeachrentals.com/properties/your-paradise-at-laketown-wharf/ What's Up Beach Rentals partnered with some amazing rental units in 2023, and I can't wait to showcase more on this channel. If you have any question on Panama City Beach real estate or the broader Emerald Coast of Florida, give me a shout. Text me and let's set up a time to chat. Eric Leitten 850.496.1671 eric@emeraldcoastabode.com
It was until all these people moved here that have no idea that this is and was a fishing based economy. We are a water town thus the name Bay County. If you are not putting money is captains hands get the fuck out. We domt need more people we need less
PCB does have condotels. Most condos on the beach with majority owners renting as short term rentals will be classified as condotels. With that said there are a few condos with more of a primary user base that are not considered condotels. These will have more financing options.
Great question. There are plenty of opportunities in the construction trade. St. Joe has multi-year build out plans in massive communities at Watersound Origins and 55+ Margaritaville. DR Horton and others are actively building in Bay, Walton, and Gulf counties. Not to mention the opportunity to build custom high end homes in resort communities. With the projections of the FED dropping rates through 2024, if tried, I’m sure that’s going to ramp up demand and construction even more.
30% property tax increase, bay county, tourist and city taxes, insurance doubling, anything condo, hoa dues doubled, a lot of homeless drug addicts, great place, come on down
The 30% property tax increase is only on non-homesteaded properties. The increase in assessed value is due to the 45% post Covid appreciation we have seen throughout the state of FL. Property tax is tied to home value. Tourist tax is nothing new and has been in place for decades. If you're running an STR, these expenses are passed through to the guest. If you are not an investor than these items are non applicable.Yes, the insurance situation sucks right now. Hoping to see more carriers enter Florida in 2024 and prices come down. On the condo side, insurance on master policies have gone up; insurance along with inflation are putting upward pressure on dues. I talk about this in several other of my condo-centric videos. I just wrote a check for an insurance assessment before replying, so I know! On the other side of the coin, primary residences, it pays to shop around. I just found out State Farm is writing in Florida again on primary SFR, 2003 and up. I was able to get a quote for $1,500 less than what I was renewed for on my primary here locally. Not sure I follow on a lot of homeless drug addicts. Not arguing the fact but wonder what the population is versus other sizable beach destinations like Myrtle Beach.
We use multiple handy-folk around town. One of our main POC's remains fairly covered up with commercial clients. We have been using Jesse Steele often this past season, and we have been extremely impressed with his professionalism and quality of work. He's also game for jobs big or small. 570-666-0834; jesse.J.Steele@outlook.com
Thanks! This market is a higher difficulty level. To say otherwise would be disingenuous. Those that can take the steps to be successful in it will be able to thrive in any market and will build repeatable skills. STR is more than a buzzword in the Panhandle. It's been used by investors and business on the beach to create wealth for decades, during highs and lows of the economy. The technology has made it more accessible to anyone willing to put forth the effort. A small percentage will capitalize, but those that do will have a level of comfort operating in this high interest/ higher difficulty environment and will likely find a better deal on the purchase when rates are high, versus when they come down.
