Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 7 years ago,
Big Bear Vacation Home & Rental
Hi! I'm in the process of looking for a vacation home that we will also rent out to help offset some of the costs. I have so many questions and my normally great googling powers are completely failing me :) Found this forum and decided to give it a shot! Here goes:
1.) What's the best location for the most year round rentals? I'm sure everywhere rents in the winter...is it better to be closer to the lake to capture summer rentals? Walking distance to village? Up past the slopes with a great view/more privacy?
2.) Is upper moonridge a good area to buy? We found a cabin we love in upper moonridge but not sure if it's good for rentals or even just a nice area in general (was hard to tell during our snow filled visit). What are the pros and cons of this area?
3.) are there any areas we should absolutely avoid? I've heard Big Bear City and Sugarloaf specifically are no nos. Anywhere else? Some places like "old" big bear look a little dumpy too?
4.) what kind of monthly costs are we looking at beyond the mortgage/taxes? Any approximation on how much we should anticipate spending each month for utilities, snow plow, etc.
5.) what are the must have items for a great rental property? I've heard jacuzzis are important. Anything else?
6.) What specific things should we watch out for (or what questions do we need to ask) when looking at a place? For example, I learned you can't park on the street during the winter. Any other nuances we need to be aware of? Steep driveways?
7.) what are the different options for property management (including avg. cost and what it generally covers)? We wouldn't be able to manage it from where we live.
8.) Any issues for the property mgmt company with us using it on the fly and/or it only being a partial rental? I read somewhere that we, as owners, would have to pay a fee to use it or have friends use it?? Seems crazy!
Sorry for all the questions! I appreciate all the help...were not super familiar with the area and I'm having a tough time sorting it all out. Thanks again!