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Updated about 3 years ago on . Most recent reply

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8
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Ryan Sommer
  • Los Angeles, CA
1
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8
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Opinions on investment properties in Big Bear for air bnb?

Ryan Sommer
  • Los Angeles, CA
Posted

I see a lot of small 1 bed cabins on the market in Big Bear for around $100k.  My only real estate experience so far is a condo I bought a couple of years ago in LA area that is my primary residence and I have no experience renting.  Would it be reasonable to expect to be able to buy an inexpensive place in Big Bear that is "move in ready" and be able to at least cover the mortgage by renting on air bnb?  I've stayed at several cabins/houses in Big Bear as an Air bnb customer and it seems like most have no problem booking solid through the summer and winter holidays and ski season.  

What I am really looking for is owning a place somewhere that my family enjoys to vacation but be able to have it pay for itself and eventually make some income off it.   

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203
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Cary F.
  • Investor
  • Lakewood, OH
191
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203
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Cary F.
  • Investor
  • Lakewood, OH
Replied

@Ryan Sommer

Howdy! First of all, a shred shack cannot be a bad idea for the winter months! Haha

I would do a little bit of homework if you haven't already. I would test the demand and vacancy rates by exploring the Airbnb app. The Airbnb app will give you an idea of what price point works and what the vacancy rates are for different prices and properties.

If you get a shred palace, and nobody wants to rent from you for whatever reason,  you'll be losing money in no time. But if there is indeed a very strong vacation rental market which will provide you with low vacancy, then perhaps it's worth doing.

Airbnb has blackout dates if the property you want is not available. If you have 50 competitors and they all seem to be booked, then it looks good. If you have a lot of competitors and they seem to have excess availability, run for the hills.

Also maybe call a hotel and try to book holiday weekends in advance. This would be Christmas, NYE, MLK Day and Presidents Day. If they all book at very high prices very early, the consider further. You could probably cover your nut on those holidays alone. Thanks for the vote in advance! 

Also I have spreadsheets for vacation rentals..  Let me know if you want a copy. 

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