All Forum Posts by: Stacey Ocampo

Hi guys! I recently acquired a short term rental in Big Bear, CA with a partner that closed in January and am now just starting to discuss this topic outside of my partner and circle since I don’t know where else to go.

When we ran numbers, call it rookie mistakes or unexpected events, but we got hit with a blizzard our first month and a half of knowing and the bottom floor got hit with a leak. It’s been a headache to say the least in getting the property ready because of what needs to get done. (I’m more so a “let’s get it done now and urgently”) type of gal, but my partner likes to wait. She’s conservative but I see her point of view because we have bled money (about $2k-$2.5k) each per month and it still hasn’t looked good for us.

It’s been managed and getting bookings, but it’s truly not enough as it’s slowed down tremendously. I’ve gotten 5 star reviews, but it’s not giving the even slightest of break evens.

I have a baby coming up in January and I am getting pure anxiety from owning this thing since I think I may have made a mistake, knowing this was a lot riskier, but calculated risk. I just may have miscalculated.

What would you do in this instance? Would you weather the storm and keep paying out of pocket or sell and move on?

My gut really wants to sell it, take my loss and move on to prevent any further long term losses.

@Ryan Daniel Hey! I actually started a meet up at Lucky Luke’s every second Thursday night of each month, which we did in November and January. We’re going to have our next one February 9, for anyone who can make it😊

This February 9 will be at Hoi Polloi Winery at 6pm

@Will Barnard @Tim Lounibos

@Adam Endeman let me go ahead and message you!

@Will Barnard Hi Will, it was a last minute meet up, apologies for the last-minute notification! We have another upcoming this January 12 which is a Thursday from 6 to 8 PM if you can make it! Would love to have you there. And I can direct message you on the info 

Hey people of SCV! There’s a meet up tomorrow I’m hosting in Santa Clarita at Lucky Luke Brewing. I know it’s a big last minute, but if you can make it, you should come by! Couple of investors and people new and experienced investors to just meet up😊 Very casual

I can send the link to the flyer if you want to go

Sounds great!! Thanks for the info and looking forward to it!

Hi Karen! I suggest speaking with your accountant regarding the opp zone reduction. From what I know, investments held for at least 10 years, investors pay no taxes on any capital gains produced through their investment in that zone. When is your 10 year mark on the property? I'm on David Greene's SoCal Real Estate Team and would love to chat more if you are open to it! This is an interesting situation and there's definitely a couple of strategies that can be implemented in the LA area.  

Hi Joshua! Is this meet up every Wednesday? 

This is all really dependent on where. For example, Lancaster can defer from Los Angeles like the Silver Lake area. This is also dependent on the motivation of the seller and how long a home may be on the market. 

Hi Daniel! I can refer you a couple of people to reach out to. What other team members were you looking for? I'm an agent from the David Greene Team in the area and can help you find properties, as I grew up in Santa Clarita and am 20 minutes from the San Fernando Valley. Reach out to me so we can connect!