All Forum Posts by: Christina Hall

We’re looking into leasing land (about 3 acres) and then adding 1-2 units on it to short term rent. Right now we are thinking of tiny homes or a container. The location is fantastic and would do well. My concerns/questions are around land improvement, we’d need to do some to make it desirable. Also have no idea on what terms we should ask for. We own single family rentals and we rent short term but a land lease to rent is not something we’ve ever done. Anyone have experience? 

@Damien Boulat happy to share. They are actually a contractor that works on all our houses. They travel to and from since we have such big projects. Let me know when you close. 

@Damien Boulat we are in the city of yucca valley. We’ll be sending out for permits in about 2-3 months after reno. 

Has the city just banned STRs in La Quinta? 

@Damien Boulat we are closing on a house in yucca valley next Mon, and have found no good realtors, I am sorry ... we went through about 3 ... be prepared to do most of the work yourself and leverage realtors for viewing the property on your behalf. I'd recommend not going out there until you get an offer accepted. This market is crazy. We made so many unnecessary trips only to lose out to someone willing to pay 100k over list. Know your line, draw it, run the numbers and try and make the best decision possible. Good luck! 

@Andrew Syrios yep! updated numbers in the post:) Thanks to Covid our ARV is sky high, currently about $600-700k and that's conservative. We are now thinking about a BRRR but it would be at a higher interest rate than what we have now. However still worth consideration.

@Brian Grant thank you. Yes, appreciation has skyrocketed since we purchased right before Covid. Comps are between $600-700k. As of May this year we've been renting it for 12 months. Within that time frame we've Grossed $72,000. Very happy with cap rate and our NOI. I have updated numbers in the post.

@Andrew Lawlor no experience in JT area yet other than the past few months or so of looking to purchase ... I’m up there about every few weeks or so looking at resales. This style home would be unique the area. That could be a concern:)

@Steve Walczak Lake Arrowhead CA :) 

Investment Info:

Single-family residence buy & hold investment in Lake Arrowhead.

Purchase price: $320,000
Cash invested: $80,000

A frame cabin Lake Arrowhead