Cracking the Nut on Big Bear Lake Airbnbs

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Looking for insight/opinion on investing in STRs in highly seasonal resort towns. Occupancy in big bear plummets when the ski resort closes around April, then heals a bit in summer for lake season. (Resident for 29 years).

On creating a yearly profitable Airbnb from purchase. Is it possible with the current prices? 

There are tourists now in local neighborhoods that would’ve never been touched ten years ago. We’re getting a small shopping center installed supposedly by the end of the year (Marshall’s, Tractor Supply, Grocery Outlet) plus investments in a second “downtown” strip. 

Any Airbnb owners with a profitable investment in BBL I can hear from? 

[Jameson Shipp]

Hi Sahara,

I am an agent and property manager specializing in STR's here in Big Bear Lake. As you know, we have been flooded with STR's up here in the last few years. Even five years ago, most properties on my street were either vacation homes or full time residents. Now all but myself and two neighbors are STR's. It is still possible to have a positive cash flowing property but you have to be smart, run the numbers and hunt for the right deal. With current interest rates and prices most homes on the market are not going to cash flow right out of the gate. Also keep in mind, when creating a new AirBNb/Vrbo listing you're starting fresh with reviews and ratings, so it will take some time to grow. In my experience, smaller cabins perform better than the larger ones. You will have more bookings and less chance of damage/code enforcement calls with the smaller properties.

As you know, Winter is definitely your money maker, with summer being a not so close second. Winter can account for 50-60% of your yearly income sometimes. I have had some luck with MTR's as well, either direct booking or FurnishFinder, for seasonal workers, traveling nurses and snow birds, so thats something you can look into as well. 

I hope this helps, it can be a great market and we live in a beautiful place, we just have a lot more competition now! Let me know if I can help in any way!

P.S. I can't tell you how excited I am to have Tractor Supply, not as excited for a Grocery Outlet lol