Short term rental in Truckee, CA

[Charles Manabat]

Hello!

I want to invest in a cabin in Truckee for STR. Anyone with insight on the market willing to connect? Shoot me a message. Thanks!

[Lindsay Buchanan]

Hi @Charles Manabat! I live in Truckee and sell real estate in both CA & NV. Would love to connect and help any way that I can! Short term rentals are more challenging in Truckee, as there is a limited number of permits and a currently a waiting list.  Additionally, you have to own your home for a year before you can be put on the waiting list. Rentals for 30 days or longer you don’t need a permit, ski leases are a great option if you don’t plan to use the place at all in the winter. 

[Charles Manabat]

Hi Lindsay!

Thanks for responding! i didn't know that. 1 year with no cash flow isn't something i'm interested in. Any other markets around the area you would recommend? If you have any listings that have an STR permit already, would you please send it my way? Appreciate it

[Lindsay Buchanan]

@Charles Manabat Placer County (Kings Beach down to Homewood, Northstar and Palisades/Alpine Meadows) have permits available and have for over 2 years. Incline Village also allows STRs, but sometimes HOAs don't allow for them. Permits are not transferrable, so looking something that has a current permit is not helpful for the permit stand point. 

[Marian Huish]

Depending on your budget @Charles Manabat, we've got plenty on the market in Incline Village on the (Northen) Nevada side of the lake- Unfortunately we're struggling with astronomical fire insurance rate increases which is causing many to sell. Also, while permits are available, the STR market here has become saturated and receives constant pushback by the NIMBY locals. We're hoping to overcome some of these challenges...

[Bradley Buxton]

Quote from @Charles Manabat:

Hello!

I want to invest in a cabin in Truckee for STR. Anyone with insight on the market willing to connect? Shoot me a message. Thanks!

It can be done. There are obstacles to navigate and those can also be overcome. As others have stated there is competition and insurance issues. Finding the right property that targets an audience will be key. Also it’s a luxury market and with that you’ll need luxury amenities. I can share data and analytics in the area. It can be done well.