All Forum Posts by: Bryan C.

@Blair Russell Thanks for the great advice!  You still have those white tiles in the rental?

@Sanjay Sharma - Thanks for the reply and the cautionary advice of your two friends.  As for contractors and repair folks - I'm hoping to get some good recommendations networking and here on bigger pockets.  I've had some great PM referrals already from this post. 

Hi all,

What are the best "bang for your buck" renovations for a vacation home? 

Does anyone have any insight into what rehab considerations might be different for a vacation home from the standard rehab formula of a long term rental?   

Perhaps this is too much of a case by case basis but I wonder if there are some rehab generalities to consider as I hunt for the right property...

Thanks!

@Al Williamson - Thanks for the roomscore tip. I agree - I'm not sure how the airbnb rental income will play out in the refi. Our DTI is pretty good so we might be able to get away with a refi without rental income - however that's not a long term plan as we plan add more vacation rentals in the future.

@Shelby Pracht - I love Mammoth and thanks for the great advice! I've heard cleaning can be challenging during the high season with over 2000 rentals in such a small area - there's only so many cleaners to go around. I've half a mind to start my own cleaning company up there :) Congrats on being in the top % - that is awesome! Do you utilize instant book or pre-screen your tenants? Besides below market pricing what else would you attribute to your high occupancy success?  

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 

@Robert Mulfinger did you ever purchase a cabin and ultimately refi?  I'm in a similar boat - looking to purchase a vaca rental in cash then refi after 6-12 months. 

Thanks @Account Closed

I saw you dishing out some good info in previous posts and was going to contact you.  You mentioned you like bigger properties for big rental groups - in general do you find there's higher maintenance costs associated with the wear and tear of larger groups?

@Anthony Certonio, @Jo-Ann Lapin, @lili , @Christine Kankowski

Thanks for the welcome!

Jo-Ann we are looking at Big Bear for a vacation rental. 

Christine - Thanks for the Temecula suggestion - I've been there so many times for wine tasting. My company isn't hiring right now but I've heard that the biotech job market in SD is pretty good right now -  there's a lot of small companies popping up. I'd recommend he focus on those so he can get some decent equity and some great work experience as one has to wear many hats in a small lab. 

Hi all,

I'm from San Diego - currently living in Santee, CA with my wife and twin daughters. 

I'm a scientist by day and aspiring RE investor by night.  I had my CA license from 2009 - 2013 and was a part time buyers agent.  That was amazingly educational but WAY too stressful to balance with a full time career.  

I'm a two-time homeowner but have never owned an investment property. 

My wife and I are looking to invest in a vacation rental here in southern California as well as our first BRRRR deal in 2016. I know the SD market very well so I'm inclined to invest here but I'm open to investing out of state also.

I'm here on BP to network and learn from others.   

Bryan