All Forum Posts by: Shayne Fee

Gotcha. We like the fact that it's less than a half an hour of mountain driving (kids get car sick) to get there and we've had multiple guests drive to snow valley for skiing/snowboarding. I know it's not the best of the options for ski slopes or lake access but there were some real positives to this location too. Like I said, we've done well enough so far but very interested to see how the rest of this spring/summer goes...My main concern with STR's in any of the desert or mountain areas is saturation. EVERYONE seems to be talking about getting into it and the amount of new STR listings and developments seems to be skyrocketing.

I just bought a 2nd home/Airbnb in Lake Arrowhead and I can tell you the competition is very stiff and the market definitely seems saturated. We started accepting guests around thanksgiving and did well enough through the winter with relatively low prices and high occupancy but as the slower season (March, April and May) has come we're having more trouble booking as new listings come on board and drop their prices to the absolute floor. Like less than $100 a night for a very nice remodeled home/cabin in a great location. 

@Will Barnard

Curious why you said cross Arrowhead off the list? Because it's a private lake, saturated market or something else? 

Always looking for a great deal but more cautiously than I have in the past. I think that sums up most of the sentiment here. I wonder what percentage of investors are looking to speed up acquisitions during this time vs. slow down or stay steady...I am in the steady to slow down camp right now.

Called animal control — they came out and made the neighbors remove the hive with a professional company and then came out to check that it was all done. 

Phenomenal turnkey, fully remodeled home on a massive, nearly 9,000 square foot pie-shaped lot! To the left of the extra long driveway is a huge open space perfect for RV parking, a boat or just extra space for a garden! California friendly, low-maintenance, drought tolerant landscaping has been installed in the front yard with a custom horizontal redwood fence topper. As you enter the home you will be greeted by vaulted ceilings and a sense of space as you can see through to the lush green backyard. The list of upgrades include: custom cabinets in the kitchen and bathrooms, granite counters, stainless appliances, hardwood laminate flooring, high baseboards, new light fixtures, ceramic travertine tile and much more... Oversized two car garage features a step-up laundry and additional storage area, epoxy painted floors, loft storage above, direct entry into the kitchen and an additional exit door to the backyard. The kitchen flows seamlessly to the spacious park-like backyard through newer french doors onto a large covered patio perfect for outdoor dining. You choose which master bedroom suits your needs -- downstairs with green views of the backyard, shared en-suite bath and dual closets, or large upstairs master with vaulted ceilings and privacy. Centrally located in Orange County, minutes to all the best the OC has to offer! This one won't last long!

Absolutely think it could work. Just about creating the culture and attracting the right members/tenants. Questions I would have are: Who is your ideal target tenant? How do you attract people/companies to your space (and leave where they are comfortable now). For this to be a place realtors will want to work it can't be a feeding frenzy of lenders, title reps, escrow officers  etc. always looking to "network". 

Very interesting idea. Love to see where it goes!

Ditto to the above! Some of those lots are on extremely steep hillsides making building very difficult and the city would make you jump through a crazy amount of hoops if it is even feasible...but maybe all that hassle is an opportunity! You never know...

@James Griffin

Hey James! I think you're definitely on the right track. If I were you, I would look for a cosmetic fixer SFR or MF in the best neighborhood you can afford relatively close to work. What type of loan to use and how much to put down are big considerations with interest rates up a little bit. I own homes in Costa Mesa and Huntington and a 4plex in Long Beach. I would love to connect and share my experiences...Feel free to PM me and good luck!

Some options:

1) close on it and sell it to an investor who knows how to capitalize on the opportunity.

2) Partner with an experienced developer.

3) Take a leap of faith and learn on the go -- hire/find the team you need to make the project work!

Ask yourself what are your goals and desires and if this project doesn't align with them then of course you can pass. But sounds like you may have a great opportunity there for someone!