All Forum Posts by: Mike R.

Although it's way more than 30 min per week of work , at least for me. It's a 24/7 job. I'm answering things at 2 in the morning I'm dealing with renters with problems, I am answering every inquiry within 2 minutes. I can't pinpoint the number of hours but my entire life is consumed with renting out at this point. It's nonstop always making sure I can answer the phone immediately pulling over the car what text message were renter comes through. It's just a lot of being there.

Yeah I spent about $200,000 on my place in 2014, and make about 55 to $60,000 a year, about $40,000 profit.  You need a hot tub to rent out. That's the bottom line.  Hot tubs the number one thing people look for without a hot tub you're not going to run out nearly as much.

UPDATE: I'm now managing 12 cabins in Big Bear. That exploded fast! Ha. Seems like everyone now knows Big Bear is THE place- thus property values have gone way up but rentals are getting tougher. New people coming in with low pricing and just a large influx of new cabins on the market. Not sure I can match the 262 nights rented last year but still keeping at it

My accountant just files it as income and then writes  off the expenses.

Upper is a little tougher to rent and to get to in the winter. But still depends on many factors. What I offer is I actually take you around to available properties and then go thru the good, the bad and the numbers (revenue) I find this really important to do BEFORE you buy. I have had so many owners ask me to manage their already bought homes that are not in good areas or don't have amenities needed. 

@James Emory Ruggles Jr sorry just saw this- all you have to do is PM me on here. But maybe I'm too late? And Hi @Alyssa Golden you bought the cabin next door to me! 

Hi Edward, just bought a 2nd place in Moonridge and up here now as well in it. Also been helping others buy and then managing for them. Big Bear is great. It's getting a little over saturated with everyone buying and attempting to rent, but as long as you are using the right person to manage, you can still do well. 

I think it's for 10 or less. 

Thanks! That's what I figured- but always want to make sure. 

Looking to buy a 2nd vacation home in Big Bear California and got the winning bid on one. A few problems though, since it's an older home (built in 1951) the stairs are not quite up to code (7" wide and a bit steep going to the 2nd floor) and one of the windows in the bedroom is not the proper egress.

It looks as though it has passed the rental program inspection though (waiting to get final confirmation) because it is grandfathered in. 

Do I have to worry about anything else or because it passes the Big Bear rental program, I don't need to worry , as that has me covered?

Basically, I'd hate for something to go wrong (Someone falls down stairs or worse) and they can sue me as it wasn't up to building codes? But again, if Big Bear says its grandfathered in, am I good?