All Forum Posts by: Mike R.

and then lots of back and forth with the cleaners, renters, potential renters  etc. If you can't think of it as a full time job, hire a management company. 

Again, it's not easy. It's a lot of research (understanding the area, what renters want, what the prices are daily)  a lot of online marketing skills (I own a digital production company that works with influencers to expand their social media presence) and buying the "right"  place and branding it correctly. It honestly to me is much more of a marketing job than a realtor job 

I'd say probably 20 hours a week? Hard to say I'm always working for my "real" job online as well so it all just sort of blends in. 

Oops 2.5%#

Ahh gotcha. In that case yes, since homes are relatively cheap in Big Bear and is sick a great vacation rental area,  1% is pretty easy. My first 8 months I'm at around 3.5%

I think it also does depend on who is managing. I have no doubt you are awesome at it Michelle- but I've been looking at some properties with horrendous rental histories on great houses in  Moonridge with views. I've seen as low as $8,000 a year gross on some amazing properties. Boggles the mind. 

What is the 1%/2% rule?

I have found that returns are what you put into it. The more you or your management is online 24/7 changing prices when not rented or when snow hits, marketing, using analytics to rise to the top of search, using social media, taking great pictures, answering emails at 2am etc.. the more money you'll make. 

That's sort of why I'm loving this so much. I get to be  creative with marketing as well as filling up my cabin with things I think people want- and I see the results. 

I have made 3x more in 8 months than I was hoping to make all year. I was told 100 nigts a year  rented is good- I'm already at 185 rented with 4 months to go. 

It really is what you put in. I have seen better houses than mine sitting there due to bad management.

It's a 24/ 7 job just like anything else. 

Bill I like Big bear better as it has skiing, arrowhead doesn't. So Big Bear is 4 seasons. I am actually starting my own management company and would love to talk to you once you find a property. 

Vacation rentals. Those can average $150 to $500 a night for a 3+2 depending  on season  and be rented out 180 nights a year as opposed to longer term at maybe $800 to $1200 a month 

Thanks Michelle- right now I may be looking for a new spa actually. The one that came with the cabin- only has a single filter and meant for 2 to 4 people. I have been having many back to backs so the cleaning is beginning to get too costly. I think I need a newer better filtered spa