Vacation Home in Big Bear Lake and a little Airbnb

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Hi guys, I’ve noticed a lot of threads in the past discussing short term rentals in Big Bear Lake, but i couldn't find recent one that it's been used as a Vacation home and Airbnb just to cover the mortgage payment. Our goal is to buy a 3/2 bed in 92315 zip in the next 30 days or so and use it one or twice every month and airbnb for whatever days are left just to cover the mortgage payment of $2500 - purchase power budget 400-450k.

Now if we get a a little more days rented that would be nice and all of it will go towards the non-busy months. We are not planning to make money out of it, the goal is the break even and maybe a little more that will cover repair costs. Btw i am a Realtor out of Rancho Cucamonga so i am not that far. I already did my due diligence in regards of fees cleaning services and all that. I was interested also to have it managed by a PM , but the 30% fee might eat too much of the gross income. I would love to hear any thoughts of people who are currently doing that or something similar. Much appreciate it, thank you.

As you mentioned the 30% to a PM will make or break you.

Are you numbers to break even using a PM? Is so self managing will help you toward your goals and possibly make you a little money.

If your numbers already don't consider paying a PM then it sounds very tight.

Well the one i am looking to submit an offer on tomorrow (39233 Willow Landing Rd, Big Bear 92315)  is occupied all weekends the busy season at rate $495 and a couple of days a week at $250. They were not trying to make money neither i guess.  They said that the gross was about $5500/month which is more than a double of our payment but we will be there at least one weekend each month so subtract $1000 so i would guess 4000-4500 roughly. 

If I subtract 30% which is approx. $1200-1500 it comes down to gross 2800-3000 and then it will be tight. 

I know tho if i hire a PM they will probably have it booked all week too so thats something to thing about as well. 

Yes there must be a designated check-in person to meet your renters as well as a designated 24/7 complaint response person who resides within 15 miles of Big Bear.

Best thing is that most of the Cleaning Companies in Big Bear now provide that as well included in the cleaning service. 

Originally posted by @Denise H. :

Big Bear City is making it very difficult to operate without a property manager. I believe you are required to have in-person check-in, must respond by phone call with any complaints/concerns within 15 minutes and in person within 30 minutes If I'm reading this correctly. I would proceed with caution.

There is some wrong information here. The city guidelines that you posted only apply to Big Bear Lake, not Big Bear City.  The actual city of Big Bear is Big Bear Lake, not City. Big Bear City is under its own policies that are more lenient, but in a location that doesn’t typically rent as well as Big Bear Lake. Moonridge is is a very popular rental area, and almost split in half between city or county. The property on Willow Landing is a strong rental area because of its proximity to the lake, and it does fall under the Big Bear Lake regulations. 

I’m a real estate broker, while not practicing now, I do have over 15 years of real estate experience and do live in Big Bear, if anyone has more questions for me, feel free to pm me.