Looking to BRRR a Vacation Home in Big Bear, CA

[Bryan C.]

My wife and I are looking to acquire a 2-3brm vacation rental property in Big Bear, CA. My plan is to do a BRRR style acquisition (Purchase in cash, value add rehab, get online with airbnb and vrbo, then refi or delayed financing). We'll be focusing on neighborhoods close to the lake, Moonridge, and Fox Farm. We plan on managing remotely from San Diego using airbnb and VRBO.

I'm hoping to get some insight and recommendations from current vacation rental owners or property managers in the area:

• What, if any, are the politics around short term rentals in Big Bear? Is there any talk of restrictions on STRs?
• How do you view the purchase of the resorts by Mammoth - any ramifications for STR owners?
• Are there specific areas in the above mentioned neighborhoods to avoid?
• According to my Airdna report, mean occupancy for Airbnb rentals is 22% with the 83rd percentile acheiving around 40%. This is only counting Airbnb bookings. Would any other owners chime in to share what their occupancy rates are including bookings from all online sources?
• As we're looking around at cabins that might need some work - what are the best bang for your buck renovations for vacation rentals?
• How important is privacy for a vacation rental? - I'm seeing a lot of properties that are pretty close to neighbors. I would think that isn't appealing but on the other hand I do see successful listings that are right next to other homes.
  
• We're traveling up in a few weeks - does anyone have any recommendations for agents and general contractors in the area?
• Would any local Big Bear owners or be willing to let me buy them lunch? Or conversely, if there's any San Diego Big Bear owners - we could meet anytime here in SD. 

Thanks,

Bryan 

[Sanjay Sharma]

I have two friends who were unsuccessful in big bear. The first sold his property because finding repair services was too difficult and expensive. Contractors and subs were driving from LA. They were not too motivated to drive their trucks up the steep mountains. When he could find one, they charged a premium

My second friend couldn't get financing. The appraisal came well below the selling price. 

If you can make it work, the price point is relatively low to enter the market. Secondly, if big bear grows into a resort year round destination (like mammoth),you hopefully will do well