All Forum Posts by: Monica Smith

@Andrew Neal , small world! Although as of yesterday, pacunion is now compass :) 

My team and I have a pretty cool listing in Kings Beach right now that you might want to check out. We actually got the listing because I originally reached out to the seller this last spring to try to buy it ourselves. Seller couldn't carry, so we had to move on, but then he asked to list with us since I definitely believe in the property. It's a 3/2 sfr with adjacent triplex of studios. It's on the MLS and can be found at 247 chipmunk st. Definitely one of the last remaining pockets of less-desirable surroundings. The "grid" , as the perfectly north to south and east to west streets behind downtown in KB is called, is still only beingfixed up house by house as the major projects are in downtown itself.

I'd be happy to send you numbers on this listing, if you'dlike. I'll warn you now that no property in north tahoe is going to stack up to traditional investor metrics. That's just the way our market is currently. But this property would at least offer set income in the triplex while still providing a 3/2 to str and enjoy. It's only 1 block from downtown, but the studios are currently the ugliest things on the block so the new owner gets to increase the look of the neighborhood immediately haha

@Andrew Neal , I'm with Oliver Lux and work on a team of three along with my partners Mark Moore and Kimberly Moore. 

Our str has more than replaced my husbands ENTIRE income, surprisingly. (Although in a ski town, that's not exactly a huge statement haha). We fell into a unique situation and it has completely transformed our lives. Our house flooded during the gigantic winter of 16/17 and since it came from outside the house, insurance didnt cover it, of course. We refused to dip into savings (we were live in flipping it to turn into a rental and were pretty close to being able to move onto our second home, which we are now in) so we decided to instead stay in our travel trailer on the weekends, block off the lower level where the flooding occurred and str the top of the house to pay for the reno. That was March of 2017 and it was so darn successful we kept doing it after that winter. We lived in our 16ft travel trailer full time and still do...although now it is parked on our awesome new property that is home to our second fixer upper. The first home is now a full time rental and we are managing 5 other homes as well. Listening to bigger pockets these past three years gave us the gift of being able to think outside the box in different situations and we are so grateful! 

I'm a little late to this thread, but wanted to add my two cents. I'm a realtor in North Lake, but also own and operate an STR in the heart of kings beach. My husband and i had so much success operating our str that he actually left his W2 seasonal jobs and we started a STR management company. I have quite a few clients who run the vacation-for-free model by purchasing and then renting out their places. In my opinion, my clients who have done a STR form of BRRRR are doing the best, financially. Like you mentioned, prices are high here right now for good ROI, and on top of that the market is pretty saturated for rentals at the moment, so it's those unique/renovated/thoughtfully designed properties that offer extra character and charm that keep higher occupancy levels and offer a (somewhat better) ROI. STRs are all about the experience and "hashtaggable" moments, more so than just practicality.

On the topic of Kings Beach, you're friend is right!! We bought our first place near downtown in 2013 and while there is still a long way to go, the town has come so far since then already! The new sidewalks and infrastructure have cleaned up the area and there are now loads of pedestrians and bikers that we didnt have before. Each yearthere are more shops and restaurants than before. Tahoe city is definitely the crown jewel of the entire lake, in my opinion, with a cute downtown and loyal fan base, but kings beach is the spot that still leaves room for growth. Some of the plans for the town include almost a "boardwalk" type setting, which would be awesome. There's no other town on the lake that offers a downtown with level beach access to a sandy beach. The summer vibe here is incredible and the winters are getting better with the addition of more restaurants and all the nice new street lights. 

Great episode! I'm really enjoying the new podcast, thanks for making it!

Great show!  Full of useful content and a fantastic, down-to-earth story.  Thank you for sharing your story with us, @Ryan Murdock