Short term rental in Big Bear, CA

[Sergio Avina]

Investment Info:

Small multi-family (2-4 units) other investment.

Purchased a triplex in Big Bear, CA and rented them as short term rentals, mostly Airbnb.

What made you interested in investing in this type of deal?

I purchased it as a tripex and then divided the lot into two separate parcels through the County. Fortunately, this was a painless process.

How did you find this deal and how did you negotiate it?

MLS and negotiated it through the selling agent.

How did you finance this deal?

conventional loan with 20% down.

How did you add value to the deal?

i remodeled all three houses, added fending around the entire property, added a bathroom to each house and converted the attic spaces in two of the three houses.

What was the outcome?

i'm thinking of selling this year, 2020.

Lessons learned? Challenges?

I enjoy learning something new every day. This was a purple cow.. something you'd notice, not in a positive way, but would definitely talk about it because it had potential.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes, i met my current agent. I absolutely recommend Dean or anyone else who can be of help to the BP community.