All Forum Posts by: Lisa Lincoln

Hi @Ulrike Koehler just checking in to see if it worked? I've just found a good place and will make and offer tomorrow. But I also found a different place (that I have been watching) and it might be going on the market very soon. Booth places are good for different reason. I want to purse booth properties. Let me know if you have any tips for me.

@John D. & @Anish Patel

Thanks for the great advice! I've been looking, it's hard to find the 20% deals in prime areas that are in rental demand. Even if it is a month to month, the properties are no where close to the 1% rule. Does it make sense to buy and hold with 30% down? and breaking even for a while? Then add value increase the rent or refi?

I'm ready to buy my next vacation rental property in Big Bear Lake/ Arrow Head or Crestline is there any rules I can follow to assure that my numbers work? I'm looking for places on the MLS near the ski slopes. I've learned a few rules to make sure I'm not over paying but can these rules be applied to vacation rentals?

Looking at my current property I get a little over the 1% rule (depending on the snow season). I do manage my own property but I wanted to consider what it would cost if I paid a property manager. They charge 30% and get an average 90 nights a year. In comparison I rent my place 129 nights a year. I want to go from a 1B/1B to a 2B/2B but knowing the rules I'm now getting gun shy. 

What I'm afraid of is having to carry the property until I have a clientele or return customer base. Which I could do for maybe a year but according to the pod casts if the numbers don't work then RUN away....

I have a friend that has been creating great websites for years. Very reasonable pricing, check out her portfolio and request a quote to see if she will work for your project. Good luck!

I've been very successful with my proprieties on VRBO, one is in Big bear and I self manage with no problems. 

@John D. I have a Vacation rental in Big Bear and considering a property in Indio. I was thinking buy and hold, but from your post it sound like vacation rentals do well there too. Especially around events. Your thoughts or any advice for me SFH or condo? Area's to stay away from?

@Eric Dowling I too am interested in rental properties in Indio, do you know this area at all? Looking to buy and hold around $100K.

Try Farmers Insurance in Big Bear. I've been with them for years. 

Getting a permit to have a rental in Big Bear is quit easy. Check the City of Big Bear Lake Transient Occupancy. Friendly people, they will answer any questions and the web sites has guides to what it legal and not legal for your rental. Check this before buying since some attic or latter to rooms are not legal. Be near the action, near village, near slopes, near the golf course. No Big Bear City and no Sugarloaf. 

Plenty of contractors up there, a few hardware stores but the major players like home depot are at the bottom of the hill. Consider this in repair costs and time to get supplies. We remodeled one of ours 1B/1B and made several trips down the hill.

I've had 2 vacation rentals in Big Bear Lake since 1997 booth 1b/1b. I listed my most recent property on VRBO in 2012. I manage the properties and now get an average of 122 nights a year. I break even most years, bad snow seasons I run negative.