Big Bear Lake STR Potential, 2019+

[Christina Hall]

Hi we are looking for a STR in Big Bear Lake, Moonridge ideally. Also considered Big Bear City and closer to the lake but was deterred against that by multiple professionals. The houses we are looking at in Moonridge are all priced over $300k with 2+ bd. Now I totally get the market today wasn't the market 5 years ago ... and we know we rode the recession up with 2 properties. My question is for those who know the area real well (and maybe have some STRs already), is now a good time to buy? Is the market really over saturated? Are rentals doing worse (occupancy wise) last 12 months vs previous 12 months? We'd be ok if we can gross $25k+ a year on the property, and eat some costs is fine as we are going to be using it for ourselves in the off season (we love it there). Is this realistic? To get $25k+ a year from a Moonridge property (that's well marketed)? Thanks for any/and all feedback!

[Christina Hall]

@Todd Rasmussen we did look at 1 house in Sugarloaf that was priced in the mid 200's definitely not a bargain you'd expect. I think the outskirts of the "lake" "slopes" etc. even though prices are significantly cheaper carries more risk, assuming you are trying to offset cost. I've spoken to owners who are grossing 70k on a 4bd close to Summit and then others that are doing OK (meaning coming close to break even) within City limit ... I think it really just depends on the house, your desire to market it, etc. There are NO great deals anymore in these areas so would just assume that at the end of the day you will be coming out of pocket some no matter what, but hopefully your plan is to also enjoy it for what it is a "vacation rental" @Tarek Youssef