All Forum Posts by: Lisa Lincoln

Looking for the same, I did try PenFed but they are currently not offer this product. 

@Ryan Sommer

I have been on the moutain, with rentals since 1997. Before Airbnb was an online model. The great thing is Big Bear has been set up for owners to rent their homes for years. Get a permit, follow the rules and everyone is happy. Recently more rules have been put in place to make it challenging for Airbnb to make any money and or discourage vacation rentals all together. The biggest reason for this, the people actually living on the moutain are being forced out by high priced sales of their month to month rentals, over saturation of vacation rentals. I can get 100 applications for a month to month rental right now.

The other thing to think about, if your paying top dollar you’ll have to charge top dollar. Before Covid my yearly average was around 167 nights a year (self managed) maybe a 10yr average. But while I was building a clientele I was at 122 nights for years.

Basically if you Ski, love the snow, hiking, getting away ect, it will be worth the bucks you spend out of pocket during off season or between rentals.

Good luck you have to start somewhere…

@Christina Hall congratulations! Great numbers too. It really has been one of the best rental years on the mountain!

Are you now selling it or what are you doing now with it?

I started with STR and purchased as a personal vacation rental. It came furnished so we really just put in our own personal touches. It was a good option for us to start since it was a 1/4 of what we would of paid close to where we liveded. We also got a small place in-case we didn't successfully rent it, we could cover the costs. 565 sq ft and no hot tub so we counted on weekend rentals. It rented well and the high season covered the slow seasons. It stayed clean and less run down since it was getting cleaned after every renter. I now have both, purchased with renters (renters have been great) but the 1 empty unit is going STR. It will make up for the renters that are not up to market value. The amount of tax write offs you get from STR area great and it has also been great to just relay on the monthly income. A vacation rental might require less of a down payment but cost the same in getting it ready for renters. An empty unit might be ideal and pick your own renters. An occupied unit might be nice to just have a check already coming in but then maybe they are paying below market value and rules are in place for covid or rent increase rules. Good luck it's nice having options!

After a lot of home work I am trying to use Rentech Direct but their payment processing service Forte has been such a pain to deal with. I have just about given up. They did give me a discount with BB, but taken over 2 months to set up payment processing service. Renters have been using a near by bank with rental deposit slips and Zelle. I think I have missed the boat using the online system to collect rent and too new to recommend other features available. I thought it was the answer to support my new apartment complex but the jury is still out on this one. 

@Mike Reynolds in what location? I would like in the San Bernardino mountains. 

@Jack McWatters I'm around tomorrow, just email me here with your number and i can text you back to snyc up a good time.

I know an old thread but anyone doing this business model. Can anyone share their experience? Seems like a good way to make some transition money until the land could be developed. I read some challenges,  bathroom since you need to offer one or have it as an RV (enclosed bathroom) location (they say less renters this way). Hipcamp site has some make shift examples that I thought were clever. It is looking like a good idea but still doing homework. I also read your best off in an area that provides near by attractions. Hiking, lake, views ect.

The insurance companies defiantly see as a fire risk. You really have to shop around and after you have a plan, don't plan to change it since they might drop you since they are no longer taking new policies in the area or updating them. I would say the mountain towns are lucky to have lake water, that is usable on the local fires. But even in my recent land searches I have run across a few homes that burned down in [year XX] fire. Fire season is scary, abatement notices to remove ground coverings and plants that are considered high burning are listed to remove. We do everything to keep the mountain safe and free of fires but you can't control nature.