STR cabin San Bernardino mountains?

Question

I am interested in buying a cabin in upper elevations of San Bernardino, I.e Big Bear or Arrowhead. Because of pent up demand the listings at booked or have been taken off market due to travel restrictions. It is hard to judge - is market is saturated or not, and if this is a good time to buy. Can I hear from owners in area what their occupancy rate and COC was pre-Covid?  How much are you paying for cleaners and or property managers? I was thinking about managing remotely with technology and hire someone locally to be able to follow up with in-person needs. Is anyone else doing this hybrid approach, and is it working? I’d love your feedback!

Myriam Mourani · Answer

For vacation rentals, they average 25-30% of the gross rental income. But they take care of everything, from advertising, booking, housekeeping, maintenance, etc. They also provide the linens and towels and do the laundry.

Todd Rasmussen · Answer

@Angela Zaitz

30% if I recall correctly

Angela Zaitz · Answer

@Todd Rasmussen

Thanks. What do property manager charge up there?

Todd Rasmussen · Answer

@Angela Zaitz

In a successful attempt to keep the money on the hill, Big Bear Lake requires you to have a property manager or responsible person on file with a physical address that has a one hour response time or less to the property. Our experience up there is now dated, so I won't talk about occupancy numbers as you should be able to get better data. C on C was negative for us, but we bought subjectively for the view instead of for the investment.