Updated over 4 years ago on . Most recent reply
Big Bear Lake STR Potential, 2019+
Hi we are looking for a STR in Big Bear Lake, Moonridge ideally. Also considered Big Bear City and closer to the lake but was deterred against that by multiple professionals. The houses we are looking at in Moonridge are all priced over $300k with 2+ bd. Now I totally get the market today wasn't the market 5 years ago ... and we know we rode the recession up with 2 properties. My question is for those who know the area real well (and maybe have some STRs already), is now a good time to buy? Is the market really over saturated? Are rentals doing worse (occupancy wise) last 12 months vs previous 12 months? We'd be ok if we can gross $25k+ a year on the property, and eat some costs is fine as we are going to be using it for ourselves in the off season (we love it there). Is this realistic? To get $25k+ a year from a Moonridge property (that's well marketed)? Thanks for any/and all feedback!
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Got it. Thank you for the information!