All Forum Posts by: Matt Pich-Maxon

Quote from @Jason Kudo:

I would definitely do a lot of due diligence before buying in Big Bear. The lake level is receding every year. So much so that Swim Beach is closed indefinitely and as we move further and further away from the ice age that the earth is coming out of, snow levels will be affected more and more every year. Buyer beware!

 I live in Big Bear. We never use the lake. Still plenty of great things to do here. But like anyplace it’s not perfect.

Really the entire west is in a massive drought, not just Big Bear and desertification is happening in places like Oklahoma as well.

Just got back driving the Eastern Sierra into southern Oregon. ALL the lakes and reservoirs and rivers are low. I’m not hearing anyone call out Ashland as a bad market potential bc they are also experiencing drought fwiw.

Quote from @An Nguyen:

@Bruce Woodruff that seems to be the consensus from what I've seen so I have requests out to a couple of photographers in the area. Thank you for your input! 

I’ve got a local guy who does a really awesome job and is reasonable. DM me for details if that’s helpful for you.

I'm in Big Bear, CA. A client of mine just passed on booking his vacation here because the home he usually rents went from $395/night to $1200/night is what he reported to me. 

I'm also seeing a lot more LTR's being advertised as available.

I spoke with one person up here who was an agent up until 8 years ago, he estimates that his neighborhood is 90% STR's and that he and his friends are extremely unhappy with how the STR process is functioning.

Should be an interesting market these next few years.

I would do whatever doesn’t keep you up at night :)

If you have any questions about Big Bear, I live up here full time. Happy to talk about the pros and cons of the Bear Valley.

Feel free to reach out if you have any questions or need anything.

Matt

DRE 02100289

I live in Big Bear. Seems most folks are finding that at current prices compared to potential revenue, it’s not the play they want to make. I just spoke with an owner yesterday for a $600000 property near the lake. He made $30k in 1 year if ownership and is now exiting. Why I wonder? 

Will numbers like this meet your investment goals?

I spoke with a buyer today who called me to buy an STR up here. But after looking at the scenarios and the potential for similar profits given LTR monthly revenues without the excessive wear and tear of an STR (not to mention the challenges of finding reliable cleaners) this buyer elected to pursue LTR in Big Bear. I'm happy to help people achieve there goals whatever they may be.

Right now there are 19 advertised LTRs on Zillow for the entire Bear Valley. I recommend comparing the rates you find there with the rates on a site like Airdna.

LTRs are in serious demand, STRs seem over saturated.

I’m happy to discuss further if you like.

Matt

DRE 02100289

Quote from @Sandi Bates:

I just made a DST investment for the first time and I can recommend a couple one who is a member of this forum as well. DM me if you are interested.

 Sure, in this instance, it has to meet the no debt load criteria. If that's the case, please, reach out.

Thanks!

Quote from @Brandon Bruckman:

Yes, there are a handful of these in the market.  Its rare in multifamily assets, but we do see no debt on industrial and senior living deals. 

Can you share some of the DST's that offer this perhaps?

Thanks!

Hello,

This is probably a long shot, but does anyone know of a DST that does not leverage the investment pool?

I know someone who may be interested in utilizing a DST during a 1031 exchange however, they do not want to deal with any loans as they prefer "free and clear" ownership.

Thanks,

Matt 

DRE 02100289

Hello,

I have a lead that is looking to deal with easement issues on 2 parcels.

1 is in Lancaster CA 

1  is in San Bernardino CA 

Please reach out if this is something you're interested in and I'll put you two in touch.

he said he was quoted about $7k for the San Bernardino lot.

Thanks

Matt

Quote from @Nick Mangiapane:

I am interested in purchasing a home in Big Bear, CA area using an FHA 203k loan putting 3.5% down. I know that a home must be my primary residence for 1 year in accordance with the fha loan requirements. I am struggling to find an exact definition of primary residence. Is it 6mo or over total for the year? Am I allowed to use the home as a short term rental at any point during that year if it remains my primary residence during that time? Side note: I am not talking about renting out rooms while I'm in the house. Ideally, I'd like to rent it out during holidays while I travel and then live in it the rest of the year. After a year, I would make it a full-time STR. Any advice or experience would be greatly appreciated. Thanks!

I live in Big Bear, last I checked, it qualifies as rural with them. USDA has some pretty awesome opportunities for loans under rural development umbrella.
Let me know if you have any questions about Big Bear in particular.