Tips for CA mountain markets for VRBO <$250k

[Kevin D.]

Does anyone have suggestions for mountain communities in Northern California between Latitude of Sacramento and as far south as Fresno where I could achieve the following with a primarily VRBO investment but occasional personal use: • Near ski resort (not necessarily prime Tahoe but smaller like Bear Valley would do) • Purchase price at or below $250k • Monthly short term income of at least $1500 typical • condo or cabin bit cabin preferred Some areas I’m familiar with are Tahoe/Truckee (typically too expensive), Arnold, and Lake Huntington. All are good options but hoping to find the right niche to invest in. Thanks in advance, Kevin

[Julie McCoy]

Sure @Kevin D., I'm happy to share what I know!  

Do keep in mind that 1% mark is the rule of thumb typically used for LTR properties - STRs have higher expenses and so really should come in higher than that in general. I've been advised that 2% is a better measure for STRs; my house in Three Rivers isn't doing that (yet?) but it's something I'm striving for in my next STR investment. 1% will bare bones cover your expenses with maybe a little left over. Just want to make sure you have an honest idea of what numbers you'll need for a profitable STR. :)