All Forum Posts by: Myriam Mourani

I'm a Big Bear Local (since 1995) and can answer some of your STR questions and/or the pros and cons of vacation rentals in Big Bear. Good luck!

@DongHui Patel, Good question. You can probably retrieve that info from some of the larger vacation rental agencies in Big Bear, like Big Bear Cool Cabins, BigBearVacations.com and Destination Big Bear (those are the ones that stand out at the moment). I know someone who has a 3/2 house in Big Bear Lake that is on Airbnb, and his gross rents for 2020 were about $116K. Keep in mind that you still have to pay someone to manage the property, like open and close, as well as provide the housekeeping. Assuming you're in a good location (i.e., close to the Village, or ski resorts or lake), it's a pretty lucrative way to go. You do have to get a rental permit. Also, be careful with Big Bear Lake, as there is a push by some residents to limit vacation rentals. Hope this helps!

@Xavier Marin

I live in Big Bear full-time. If you're looking for a commercial real estate agent, I would contact Michele Kersey at 
Wheeler Steffen Sotheby’s International Big Bear Lake Ca 

You are so right, Nicholas Misch! It's all about the property manager and his/her team! I find the property management team BEFORE buying the property. 

I don't know much about Green Valley Lake, except that area gets a lot of snow. I live in Big Bear, and the folks who have vacation rentals on Airbnb and doing VERY well. The house across the street from me rents for between $300-500 per night, and I have yet to see it vacant! There's not much inventory in Big Bear, so the price point is high, but it may be worth exploring.

I'm not familiar with the Santa Maria area, but $250K for a 3/2 sounds pretty good. If it's a condo, you definitely want to check out the association, as they might limit rentals. Also check out the HOA fees, since those will eat into your cash flow. You can go on rentometer.com and plug in the address to see what rents are going for. My Ohio properties are in Eastern OH in the outskirts of Youngstown. Prices have really gone up lately, and less expensive properties are being snapped up by investors (who have a crew ready to do the rehab). I can't compete with those because I'm 1500 miles away and have to rely on my property manager's people, where I would pay retail. I heard good things about Painsville, OH actually! Real estate seems to have gotten crazy over the past year or so, and it's making me nervous. I don't know if it can go that way forever...

Hi there! I live in Big Bear and love it. However, prices right now are crazy high, and there's not much inventory. People who have STR's seem to be doing very well, and our mountain has been packed with visitors since COVID. I would stay away from the city of Big Bear Lake, only because they're trying to limit vacation rentals in that area. The unincorporated areas like Fawnskin, Big Bear City, Erwin Lake and Sugarloaf are not affected by that issue (for now anyway). The house across the street from me is a STR, and it has been rented every day for over $300-400 per night. The owner paid $50K over ask for that house, and it's obviously paying off for him. If this is something you want to explore, I can refer you to a local real estate agent who can also get you rental numbers from vacation rental companies up here.

@Ryan Estes

Where are you seeing that kind of cash flow in CA? Prices right now are insane. My CA rentals are doing well, but I bought them in the 1980s...:-) I, too, am looking at cash flow, which is why I have been investing out of state (like Ohio). I'm looking at Indiana next, but I have to run numbers and find a property manager.

I live in Big Bear, and there are a lot of short-term rentals up here. The City is considering putting a cap of the number of permits for vacation rentals. Plus, I'm noticing the visitor demand has decreased (I live near a lot of those short-term rentals, and most of them are empty now). It's a great place to buy a second home, though! That's how I started, and then, as it got more and more difficult to leave on Sunday, I decided to move up here full-time. :-)

@EhlenBaylon The rules apply to both county and city, and I know they've stepped up enforcement. Go to www.bbvra.com for additional details. I know vacation rentals are doing very well up here, and are in demand, especially if you're near the ski resorts, the Village or the lake. It's been a bone of contention with some of the locals up here, due to the crowds, long lines and trash (hence the stepped-up enforcement and rules). There are a lot of vacation rentals near our house, and so far, we've had zero problems (knock wood). As a former OC resident, I love living here, and I know the crowds, etc. come with the territory of living in a resort community. :-)