All Forum Posts by: Mike R.

I bought a place 4 years ago in Big Bear and it has been doing very well, so much so I'm now managing 5 other properties in that area and started a Property Management company. 

I was hoping to buy a second place in Big Bear but not much that I like has been popping up for under $300k. (I know exactly what is needed in a rental property and maybe I'm overthinking it?)  

I'm open to diversification and  thinking maybe I should have the next place in a different location, yet still within a 2 to 3 hour drive of LA

Would love to hear from those doing rental properties in the area. (Joshua Tree?  Idyllwild? Wrightwood? Any beach areas that don't have regulated short term?) 

Hoping to be rented out 200+ nights a year, net at least $25k a year. And the area has to have no short term regulation now or in the future. 

I'll probably end up with a place in Big Bear (As I do know it really well and really like it up there)  but figured I'd open up the discussion and see what else others are doing in the region. 

Ugg. The worst.

I also take people up to Big Bear to work with myself and realtor where I show you properties and explain which ones rent out better based on area and the house itself and all my stats and rental history. I'm averaging 200 nights a year rented- with mine hitting 239 nights last year

Hi @Carrie Giordano- I bought my place in Big Bear in 2014 and now am managing 7 properties - a few I got from this board! Would gladly answer any questions. Big Bear does have a much better ROI than Arrrowhead due to ski slopes and Arrowhead is a private lake.

Congrats! What area? 

Angelo doesn't tell you much. Big bear has its own MLS that you're really need to work with a local to find those sort of deals a lot of things listed on Redfin and Zillow have already been sold or they're the ones that are not any good deals

the deals are now much harder to find. It's almost impossible to find under 200,000 and even under 250 is really difficult. Prices have gone way up in Big Bear over the last year. I do work with my realtor and with homeowners who are looking and we definitely can still find some deals and help you find a great roi on a property. Just expect to pay at least 250 to 300 these days in Big Bear. you can get lower but those are not rentable areas  usually. 

Yep we do it all. Love to talk.

Underprice and you'll get some very bad renters. The goal is to find the sweet spot of slightly over price (upscale your home as well)  to attract better renters yet still not too over so you can get over 200 nights

Thanks! I moved into this townhome I'm renting last night, paper thin walls and floors. I can hear everything and even though no one is above me as it's a townhome- It sounds like there is- as I guess it's all shared floor boards. This is a nightmare. I was planning to wait a year to buy- I don't think I'll last that long.