I am hoping to connect with some people in Southern California, most specifically the Los Angeles area but I would also consider Orange County. I love that part of the country and one of my big goals is to own a vacation rental there. The problem is that I live in southwest Missouri.
What I need:
First, someone in the the LA market who is familiar with short term rental regulations.
I waffle between jumping into something turnkey or going after my true love of a fixer-upper.
What I can do for you:
Probably nothing. ;) But if you’re from California you might be excited about how inexpensive real estate in my neck of the woods can be. So if you are interested in jumping into the Midwest market, I’d be happy to share my expertise.
Thanks so much!
I’m in South Bay (beach cities south of LA/LAX) happy to chat
@Joe Steele thanks so much!
@Joe Steele I've been reading the STR ordinance and it seems like it's pretty much impossible to have one unless it's your primary residence, is that the case from your perspective?
Thanks, AJ! I'm definitely interested to hear any STR experiences in California but I'm hoping to purchase a property in an area that I am personally interested in spending some time several times a year. I'm more into the city and beach locations right now.
@Michelle Herschend If your interested in further south something to keep an eye on is a new convention center and hotel being built on the bay in Chula Vista. I was speaking with the city inspector a month or so ago and the project has full permit approval and should be complete in 2 years. The area just next to where the convention center site is less than optimal so I suspect an increase in value there. We own a rental about a mile away with a granny flat which we may turn the granny flat into STR when project completes since we are walking distance from downtown Chula. What may throw a wrench into it is the over regulation typical of the govt in this area to squash STR rentals. With all of this said I don't have specifics of a great deal but an area to keep an eye on.
Spot on. The Chula Vista Bay Front Project. 3 Phases w/ the Gaylord Hotel being at the center of it. NW & SW Chula is coming up in a big way. Specifically 91910 and 91911.
@Michelle Herschend we still have STR's in wine country here in Temecula. Big business before Covid, and looking forward to it returning here soon. Tons of weddings and wine tasting tours brings in folks from all over. But regulated for sure with lot size over 60,000 and of course the noise ordinances. Now that wineries are opening up again, travelers are starting to look again. Not much available under $1M.
@Michelle Herschend I did not read his response but owning property within Los Angeles City for the purpose of income is a TALL TASK. I would not AIR bnb within the city limits. There are some great areas near the airport that dont fall within the city limits and don't have to adhere to the their dumb rules.
Inglewood is on FIRE for STR because of the stadium and its proximity to the airport. There is also Ladera Heights which is near the airport. Culver City, Hawthorne are great for STR because they are close to the airport. Manhatten beach is great but I would check their rules.
You should also look at Orange County too for STR. If I was doing STR in SoCal I would do Inglewood or Orange County (near Disneyland).
I hope you find this useful.
@Mel Hayes super helpful, thank you!
@Michelle Herschend Like some of the other people in here (who I should probably meet @Kevin Murphy ) I live in the South Bay and focus my investing here. The viability of a short term rental is absolutely city specific, but there is no doubt that it can be done successfully. Yes CA is expensive (but you get what you pay for), yes CA is generally anti-short-term rental (but that means less competition), and yes deals are hard to find (but when you find one it feels that much better). Generally, I feel that the best bet is to stay with cities that are more transparent and accepting of short-term rentals. Cities that come to mind are Long Beach, Torrance, Gardena, Joshua Tree, Palm Springs, and Mammoth Lakes (the last three are not LA or Orange County). Anyway, your project sounds fun so let me know if I can contribute at all!
Thank you! It’s very helpful to have that list of cities. I was getting very discouraged looking at LA and surrounding areas and all their restrictions. Palm Springs and SoCal beaches are of interest to me so I’ll definitely take a look at those areas!
Look at San Pedro and Long Beach
@Charles Cooper I will, thank you!
If you're looking for an "affordable" beach city with an STR-friendly ordinance, look no further than my city, Long Beach! It has it's own airport, board walk with shops, great restaurants and shopping, the best aquarium ever, and is close to OC and other LA beaches.
2nd Street has a great nightlife, restaurants, and shopping while being minutes from the beach. You can rent stand-up paddle boards and go paddle boarding or kayaking in the Naples Canals.
2nd and PCH has higher end shopping, ocean-view restaurants.
Head over to the waterfront for good restaurants and tourist shops and the aquarium.
Long Beach also recently loosened it's STR restrictions so the owner does not have to be on-site during the tenant's stay!
Let me know what questions you have about Long Beach and the nuances of the different neighborhoods!
@AJ Singh - I'm pretty sure Big Bear Lake just issued a 60-day moratorium on new vacation rental permits, so I'd avoid that area for the time being!