Big Bear CA Short Term Rentals

[Tarek Youssef]

What are your thoughts on buying in big bear CA? I'm looking at the little town of Sugarloaf. You can find a turnkey property there for about $150k-$200k. But I'm wondering if theres more value in rehabbing rather than buying turnkey. It seems like homes stay on the market for a long time there too, and there's more offers on homes in the lower than listed end than higher than listed like you get closer to the coast.

[Luke Geller]

@Tarek Youssef I'm also looking into my first investment as a short term rental in Big Bear,  I think it depends where in the town you are looking to buy but its definitely seasonal there.  From what I've researched you will make 70% of income during the winter months unless you're on the lake which then gets to about 60/40 winter/summer.  One of the issues/deterents that worries me and @Luke Carl I'd love to hear your take as someone who self manages from a distance, is that the city of Big Bear Lake requires a face to face check in with the rental owner/manager and 24/7 on call assistance by the owner manager and be able to respond and be within a 15 mile radius. Seeing as I would be living 3 hours away this would require a property manager of sorts which would take away from the profits and ability to self manage and tap into the full earning potential of a STR in the area. With that being said if you can find a good deal turnkey or a fixer at a good price it seems like a strong market. I think AirDNA has it rated as a B+, I will say from what I've looked at the prices are closer to 230k-300k for a 2bd - 1ba turnkey if you're looking close to the slopes or lake.

Would love to hear others opinions or takes on it, this is just from the recent research I've done.