Mammoth Lakes - Fractional / Co-Ownership

Mammoth Lakes - Fractional / Co-Ownership

Member since 2023 · 7 posts · 1 vote

Looking for like-minded investors and outdoor enthusiasts who may be interested in co-ownership of a SFH in Mammoth Lakes. 3-4 bedroom, 2+ bath, price range up to 1.1 mil. Looking for individuals willing to invest some capital for up front renovations if needed.

We are CA natives living and working in LA. We are also out of state investors and have spent time on Bigger Pockets, actively growing our portfolio. We have a growing family that has been spending winters and summers up in the Sierras since we were kids ourselves.

A seasonal home in Mammoth is not necessarily a cash flow play but the appreciation is relatively good as the region is becoming more accessible and Mammoth Mountain is continuing to drive more corporate (unfortunately). The region really has 4 incredible seasons and is close to Yosemite and the rest of the Eastern Sierras for hiking, fishing, camping, etc.

Considering a purchase for the right property and co-ownership set up in the next 1-2 years. Still in early phases and have yet to secure an agent in the Mammoth area to discuss regulations and zoning, but have run some numbers pretty extensively.

If anyone has insight into setting up a fractional in a seasonal home region, would love to hear good outcomes and horror stories alike!

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Andrew SteffensBusiness Member
Tampa, FL · Member since 2022 · 3k+ posts · 3k+ votes
2d

Make sure you have a good lawyer to draft it up if you do find parties interested.

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  • Bradley BuxtonBusiness Member
    Real Estate Agent · NV · Member since 2023 · 1k+ posts · 713 votes
    3d

    Mammoth is an amazing area. I'm in Tahoe and there are some similarities. Check the STR regulations, they have been changing and can be restrictive. There is a new condo tower being built that could effect the rental income and appreciation. As you may already know there are shoulder seasons that could change the calculations of occupancy.

  • Member since 2023 · 7 posts · 1 vote
    3d

    Yes, mammoth is very strict with STR. Very limited options for STR that are SFH. I don't anticipate this kind of ownership structure as being a place we would rent out. It would be owners only and the benefit would be in the appreciation of the respective percent ownership which could be bought and sold.

    The condominium development I don't feel will compete terribly. There are already plenty of condos and townhouses. Generally good for smaller groups. Most are 2 bedroom with a loft. We've rented all iterations of housing up there from motel style rooms to large houses, but the large houses that are zoned for STR have really high nightly rates and actually do very well. To purchase an SFH in an STR allowable zone would be north of 1.5-2 mil. Unlike Colorado mountain towns that I've frequented when I lived there, there are relatively few SFHs for rent in Mammoth that are reasonably priced for this reason.

    We would be utilizing the house during our allotted weeks to bring close friends and family. Otherwise as a large group we usually have to stay in separate condo units, separate buildings, and parking is always a struggle.

  • Member since 2023 · 7 posts · 1 vote
    3d

    Also open to June Lake though less familiar with zoning regulations there so would need to do a bit of digging. But prices are generally lower relative to Mammoth.

    Truthfully, with the cost of skiing become more and more astronomical, I believe the “shoulder” seasons will have lower occupancy.

  • Member since 2022 · 1k+ posts · 1k+ votes
    2d

    Isn't true fractional ownership where owners own specific times of the year? Always wondered how you fairly distribute the months/weeks throughout the year. Seems that it would get messy with more than 3 owners.

  • Member since 2023 · 7 posts · 1 vote
    2d

    I grew up going to a family friend's house up in Mammoth with multiple owners. Not entirely sure how they structured it legally but each family would get X number of weeks per year and then they would rotate holidays. They've had the house since the 80s and continue to own it today with the children starting to take over. It's always worked very well for them and they even did renovations at some point where everyone either contributed or they established a sort of HOA / CCNR for building up that fund I believe.

  • Andrew SteffensBusiness Member
    Tampa, FL · Member since 2022 · 3k+ posts · 3k+ votes
    2d

    Make sure you have a good lawyer to draft it up if you do find parties interested.

  • Divin KanyamaBusiness Member
    Accountant · Seattle, WA · Member since 2025 · 316 posts · 106 votes
    2d

    @Briana Landecker This could be a great way to enjoy Mammoth while sharing the cost, but the co-ownership structure may matter even more than the property. Before searching seriously, the group should agree on personal-use calendars, peak-week allocation, renovation contributions, ongoing expenses, reserve requirements, rental decisions, and who handles day-to-day management. It is also worth confirming local short-term rental, zoning, HOA, insurance, and financing rules early, since those can materially change the economics.

    The biggest risk is usually not the mountain home—it is what happens when owners' circumstances change. A strong agreement should cover missed contributions, major repairs, guests, damage, refinancing, death or divorce, buyout valuation, transfer restrictions, dispute resolution, and a clear path for someone who wants to exit. An attorney and tax adviser familiar with California shared ownership can help compare an LLC, tenancy-in-common arrangement, or another structure. The best outcomes generally come from treating it like a business partnership first and a vacation home second.

  • Property Manager · Mammoth Lakes, CA · Member since 2014 · 263 posts · 230 votes
    1d

    @Briana Landecker what you're trying to do is definitely not uncommon in the Mammoth area. Let me know if you are looking for an agent recommendation that would be able to walk you through the process, or if you have any Mammoth- specific questions.

  • Investor · NV and CA · Member since 2016 · 374 posts · 227 votes
    16h

    @Briana Landecker - My main concern would be the viability of being able to ski / snowboard there over the long term. You're absolutely correct that Mammoth has year round attractions, but the main economic driver there seems to be skiing / snowboarding. If climate trends continue as they have been, we'll be seeing worse and worse snow conditions and the area will become less desirable over time unfortunately. I live in Reno and my in-laws have lived in Mammoth for years. It certainly seems Mammoth gets better snow than the Tahoe area, but the entire region has been getting less snow over time.

    Others may not believe climate change is happening and they're welcome to their own opinion.

    Ultimately tourism is a gigantic part of the Mammoth economy. There's a huge number of locals who need workforce housing and are completely priced out even after completed local affordable housing projects. I hate to put out a bleak picture of what you're looking at but I see questionable appreciation potential there over the long term.

    • Member since 2022 · 1k+ posts · 1k+ votes
      9h

      Appreciation in general seems bleak in the short to mid term. High bond yield/interest rates, tightening of monetary policy, people playing defense with their money. Last decade was an epic run, and it seems we've reached a plateau for what most people will realistically spend.

      I was generally on the appreciation side of the age old debate, although these days I'm rethinking that lol

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