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All Forum Posts by: Mike R.

Mike R. has started 17 posts and replied 247 times.

Post: Looking for Orange County mentor to prove me wrong

Mike R.Posted
  • Investor
  • Valley Glen, CA
  • Posts 247
  • Votes 111

@David HodgeI agree with trying to talk to the owner instead but how? Do you just knock on doors and ask if they want to sell? Or are these houses that are up for sale already?

Post: they got a puppy

Mike R.Posted
  • Investor
  • Valley Glen, CA
  • Posts 247
  • Votes 111

I make all my money from renting my vacation property to people with dogs. I freely allow it and I think everyone should. We have a huge dog overpoulation problem in this world-sometimes we can't just think about money but we should consider how we can make the world a better place. A family that is allowed to be a whole family and not made to leave because of a family member, I feel will take care of a place much better as they will be much happier. You can set down some rules, maybe be sure the dog has been house broken or thru training and even check in the first few months. A bigger deposit could also be required. But I can't imagine kicking someone out or forcing them to get rid of a loved one ever. 

Post: Are Vacation Rentals ever cash flow positive?

Mike R.Posted
  • Investor
  • Valley Glen, CA
  • Posts 247
  • Votes 111

A little less than $50k once you add in taxes, maintenance, utilities, etc... But I try to keep costs down by going up myself with supplies from Costco at least twice a month as well as doing things like staining the deck myself- etc.. 

Post: Are Vacation Rentals ever cash flow positive?

Mike R.Posted
  • Investor
  • Valley Glen, CA
  • Posts 247
  • Votes 111

Yeah I researched a long time. I know what people want in Big Bear properties, which I don't think I'd get with a property manager. And I am now considering starting my own prop management company since I have been getting so many "Wows" from my cleaning crew, spa guy and realtors- ha.  

My place came furnished, another big savings-  I added a few other touches based on what renters wanted- and so far very little maintenance or problems have occurred so far (knock on wood)  

Post: Vacation income property website recommendations?

Mike R.Posted
  • Investor
  • Valley Glen, CA
  • Posts 247
  • Votes 111

If anyone has any examples- post links! 

Post: Are Vacation Rentals ever cash flow positive?

Mike R.Posted
  • Investor
  • Valley Glen, CA
  • Posts 247
  • Votes 111

Property was valued at under $200k when I bought it. I avg. $280 a night during the winter, $200 fall and summer, $500 for holidays. 

Big Bear is year round not just winter. 

Post: Vacation income property website recommendations?

Mike R.Posted
  • Investor
  • Valley Glen, CA
  • Posts 247
  • Votes 111

Thanks- yeah was wondering if I even need anything more than a landing page that then had the options of going to the 3 major rental sites or simply contacting me for PayPal option. May make more sense to start that way. Just to get some extra SEO

Post: Vacation income property website recommendations?

Mike R.Posted
  • Investor
  • Valley Glen, CA
  • Posts 247
  • Votes 111

I have had a successful rental property in Big Bear, CA. since April 2014- averaging over 200 nights a year rented. I'm using the usual places: AirBnB, Flipkey and VRBO but was thinking of setting up my own web site as well. I see there are places like WebChalet that do it for you for $10 to $15 a month. Has a anyone tried any of these or had someone build you a site? 

Post: Are Vacation Rentals ever cash flow positive?

Mike R.Posted
  • Investor
  • Valley Glen, CA
  • Posts 247
  • Votes 111

I have a rental in Big Bear I bought in April 2014- it's giving me great cash flow- so much so I haven't worked at any other job over the last 4 months. Loving it and looking for a second one. I manage it myself because I heard horror stories about property managers taking 40% and doing nothing. I'm rented out about 200 days a year- mostly 2 to 3 night stays. 

Post: thinking of buying a big bear, ca vacation rental? any advice

Mike R.Posted
  • Investor
  • Valley Glen, CA
  • Posts 247
  • Votes 111

Hi Denise- did you end up buying? I bought a 3+1 last April in Lower Moonridge for under $200k.  I manage it myself and it has been doing very well. I'm well over 200 days rented already in 2015. I'm currently looking for another cabin up here- although having a hard time finding another 3 bedroom as prices are starting to go up. If you see something - you really have to jump on it.