Rental Property Investor · Anaheim, CA · Member since 2015 · 138 posts · 37 votes
So I am totally new to REI in general. I live in Anaheim, CA. At first I was thinking buy & holds for long term wealth. Then I was thinking if flipping homes would be more ideal for me to begin with.....then a crazy idea hit me. I live in a neighborhood, I mean in the closest neighborhood to Disneyland, literally. I've noticed people walking in groups from my neighborhood to Disneyland. Recently I checked and OMG there are so many STR'a in my neighborhood. Averaging about $350-$400 a night! My brother lives directly across the street from me. So I was just thinkin, what if we buy 1 big house, where both our families can move into and we rent both our houses. Or my brothers idea is to make his house a 2-story house (6bedrooms) and we all live in it while we rent my house out. Did I mention I have a swimming pool?
Jose Salas Welcome to BP. What a great idea, but you are about eight years behind the curve. The city of Anaheim, like most, were asleep at the switch. They woke up with AirBB and started collecting their fare share. Now with all the neighbor complaints they have in place a moratorium. Please check with the city before you proceed.
Good investing.
Jose Salas Welcome to BP. What a great idea, but you are about eight years behind the curve. The city of Anaheim, like most, were asleep at the switch. They woke up with AirBB and started collecting their fare share. Now with all the neighbor complaints they have in place a moratorium. Please check with the city before you proceed.
Good investing.
Short term rentals are a great idea, but do it in a place where it is legal and people are not fighting to change it. Take the Palm Springs area. It is such a big industry that there is no chance of it going anywhere.
I have a short term rental there and couldn't say more good things about the decision to buy there.
I just read about the Moratorium. What are your thoughts about the future? Would it still be possible to make cashflow doing this here in Anaheim? Or will neighbor complaints be a factor? I just figure that everyone goes to Disneyland. Anaheim Convention Center is expanding. An underground water park is being built as well. I have been living here all my life and I have been noticing the increase of tourist around.
A short term rental would do amazing where you are. That is why you noticed so many. The problem you face is the legal part. I wouldn't go buying houses or moving across the street just yet.
I wouldn't hold my breath for them making them legal either. Outlawing them seems to be the growing trend around here. Like Santa Monica just did.