(Lake Tahoe vacation property) Questions with short-term rentals.

[Cody Nielsen]

A friend/ business partner and I have decided to purchase a vacation rental. Our main idea around choosing Lake Tahoe is the year around entertainment attraction. To get down to it, we are asking the Bigger Pockets community for a little first hand advice.

Recommendations for a realtor, property manager, or even a cleaning service in the area.

What are some state requirements that both the Nevada and California side have when it comes to Short-term rentals? Positives and Negatives?

Lastly, any positive or negative advice in an areas when it comes to short term rentals.

I've read previous posts about the topic just looking to engage in my own conversation on the matter. Appreciate your time everyone. Looking forward to interacting.

[Jeff E.]

@Cody Nielsen  I have been looking for properties in the Tahoe area also.  I have spoken with Dustin and he is very

knowledgeable.   I have also worked with Bill Dietz at Tahoe luxury properties www.tluxp.com who is more in the North West areas of the Tahoe.  Here is what I have found so far in my research:

-Seems like the California areas are more popular than the Nevada ones for rentals.  Property tax is extremely high on the CA side though, expect to pay about 1.25% of the cost of the property in yearly taxes and it is assessed on the new sale price immediately.  

-Some of the areas I like so far are Kings beach, Incline Village, & Tahoe City.  

-It has been real difficult for me to get the numbers to flow positive unless you are doing 75%-100% cash.  Some others may have different results as I have been looking mostly lakefront but can't get the numbers to work.  Bill also runs a property management company so he can provide some pretty good analysis of income for different areas and properties.   

Feel free to DM me with any questions.

Jeff E.