STR in San Bernardino mountains
Hey everyone, I recently got a fantastic little mountain chalet in Rimforest, Lake Arrowhead CA
We mostly got it as a personal get away and long term flip/sweat equity builder, but are interested in doing Airbnb. I found out today that the county charges $600 for two years. That’s quite a few rented weekends just to make that back. Pretty disappointed.
Anyone up in big bear or lake arrowhead area have any suggestions for short term rentals?
I wish there was a 1 month LTR fully furnished option. I see there is a shortage of LTRs in the area, but we would like to use it too.
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What's the county charging you for? A permit, I assume? That's a little steep for a permit, I suppose, but as a cost of doing business, it's nothing. You say it will take "quite a few" weekends to make that back - are you planning to rent it for less than $100/night? And there's 104 weekends in two years... why give up 100 because it might cost you 4?
What suggestions are you looking for? Some other property isn't going to be a less expensive permit - why on earth would you look for something else in the same area if you aren't willing to spend a measly $600 on the one you already own?
I just paid $3000 in quarterly hospitality taxes for my rental in Tulare County... and happy to do it, because if I owed that much in taxes, think about how much went in my bank account.
Short-term rentals are not a strategy for $0 up front. You've got to invest money in creating a place people will be happy to stay in, invest money in permits and taxes to do it legally, and invest time to create a good guest experience. The returns are enormous, but they're not free.