Green investor looking in the Tahoe, Reno, and Sac areas

19 Replies

Hello BP community. I'm new and just wanted to introduce myself. I'm a resident of South Lake Tahoe, CA where I bought my first home and am currently rehabbing it. I love the work and I'm looking to buy a second property, all cash, to flip in either the Tahoe, Reno, or Sacramento. Any advice or recommendations will be greatly appreciated. 

BTW. Love this site. The podcasts are awesome and the available information on here is priceless. Thank you BP!

Great recommendation Vincent. I don't have any problem working in that area so I'll start looking over there. I prefer Reno and the surrounding areas over Sac as the drive would be much easier. Thanks!

Welcome to BP Adam, glad to have you here. I was just looking at some properties in Tahoe today (hotel though, not residential). Looking forward to introducing my wife to the area when we´re in California later this year, as well as seeing how your own investments develop. Make sure to spend some time in the Learn section here on BP, there´s an absolute wealth of information.

We own a house in South Lake, and are renting it out as a vacation rental (first year). The winter was great but snow removal and hot tub was a challenge to manage and cause some small issues managing from abroad. We will likely turn a small profit this year, around 8-10% but we also used it for over 4 weeks, so that's nice. The key is to find reliable local and dependable help, then get smart on managing it yourself. The PM co's will eat your money quick in my modeling so we opted out. Another bit you may consider is trying to get it furnished. This will save you a ton of time and money, but character is key to stand out. We started booking before we closed since it was truest turn key being furnished and all, and just provided our own small touch. We even used the pics from the mls ad and bought the property site unseen. We love it though and are considering another purchase.

@Adam Pappas  Would love to connect with you regarding South Lake Tahoe as I am going to be up there during snow season.  I rented a ski lease up in Z.Cove.  I have always been fascinated by the South Lake Tahoe area.  Do you feel like there is a need for low income housing? How about turning some of those older hotels into well furnished studio apartments?  Also how is the Cannaibais RE industry?  Is there a need for Cannabais friendly landlords? 

@Adam Pappas  Would love to connect with you regarding South Lake Tahoe as I am going to be up there during snow season.  I rented a ski lease up in Z.Cove.  I have always been fascinated by the South Lake Tahoe area.  Do you feel like there is a need for low income housing? How about turning some of those older hotels into well furnished studio apartments?  Also how is the Cannaibais RE industry?  Is there a need for Cannabais friendly landlords? 

@Jared MontBlanc  Hi Jared!  What do you know of the short term rental are like with the city.  Have any of them harass you? How often are your place rented?  Thanks.  

Hey Angela! I am another young investor located in South Lake Tahoe looking to do a major BRRRR-style fix and vacation-rent. Let's get in touch to discuss the area and possibly even collaborate on a deal sometime!!

@angela 

@Angela Yan South Lake Tahoe could definitely benefit from more affordable housing options. Converting some of our run down motels might actually be a great option.  Vacation Rentals in South Lake are currently being debated and the city is, yet again, trying to rewrite the ordinance to try to please more people. There is a local group trying to put an outright ban on VHR (Vacation Home Rentals) altogether through a ballot initiative in 2018. We are hoping the city can come up with a more agreeable option than a complete ban as that would have a huge impact on home values in the city. If you would like to talk more about the current state of affairs in South Lake Tahoe, please feel free to reach out.

@Tyler Ettner  hey! I would love that. Do you live up there now? I notice prices are dropping again. Do you have any construction hook ups? I am about to start a mail campaign and may consider South Lake Tahoe. 

@Angela Yan I am only licensed on the California side as a realtor. There are many factors to consider when deciding which state to invest in. I'm going to state the obvious and say everyone's situation is different and you should look at the advantages and disadvantages of each.

That being said, South Lake Tahoe tends to have a lot more inventory than Stateline, NV. South Lake generally has more variety and lower average prices as well.

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