Advice on STR purchase in big bear CA

[Kabene Gebremariam]

Hello all !

Am a newbie to investing on properties!working full time currently and a mom of three . trying to educate myself here and same time looking for a property to purchase a STR arround Big bear a mountain city in CA which is 1and half hour away from where I live .

Thank you all in advance and appreciate any advise !

1.if I manage the STR myself versus managing company , Is buying arround the lake or in the city better in what way ?

2. Is buying 2 bed or 3 bed is good for STR?

3. If you buy 3 bed and only use 2 bed for STR is the licensing by 2 /3?

4. What are the challenges having a house in mountain ?

5. How’s getting contractors/ handy man : cleaner and all ? 
6. Worth to buy a TLC property or better to buy furnished homes ?

7. How's business at all for STR in big bear right now , I wonder if the recession affected it or not as much ?

8. Is the quarterly tax( TOT /TBID) only for the lake area or to the city too ?

9. Insurance company recommendation in the area ?

10. Appreciate if any list of which streets get snow removal from the city ?

11. Best managing company recommendation? All managing companies I researched are very expensive between 25-30%
12. Best cleaning company and also handy man recommendation?

Anything you think I should know about STR in Big bear ?

Thanks again 

[Joe Homs]

@Kabene Gebremariam  Let me try to answer your questions.

1.if I manage the STR myself versus managing company , Is buying around the lake or in the city better in what way ?

    You will need to check the rules, but you would need to be within 30 minutes of the property to manage it or hire someone who is.

2. Is buying 2 bed or 3 bed is good for STR?

     Always best to buy more bedrooms.

3. If you buy 3 bed and only use 2 bed for STR is the licensing by 2 /3?

     They will come out and inspect.  They will tell you how many people and cars they will approve.

4. What are the challenges having a house in mountain ?

     Same as anything that is a long distance from where you live.

5. How’s getting contractors/ handy man : cleaner and all ?

     Thats a very big challenge.  We bring them up from San Bernardino as the trades up there are very expensive.

6. Worth to buy a TLC property or better to buy furnished homes ?

     That is really up to how much work you want to do.  

7. How's business at all for STR in big bear right now , I wonder if the recession affected it or not as much ?

     Business is good, but remember its seasonal.  Winter is best.

8. Is the quarterly tax( TOT /TBID) only for the lake area or to the city too ?

     11%, this is California and you get taxed for walking outside.

9. Insurance company recommendation in the area ?

     Another big concern.  Check with an insurance Broker.

10. Appreciate if any list of which streets get snow removal from the city ?

     Anything that is paved.

11. Best managing company recommendation? All managing companies I researched are very expensive between 25-30%

     Keep looking.

12. Best cleaning company and also handy man recommendation?

     Check with management companies above.

Anything you think I should know about STR in Big bear ?

     Do your research.

Good Investing...