All Forum Posts by: Zhengran Zhou

@Zhengran Zhou If vacation rental is your purpose go Palm Springs.  You'll pay a bit of a premium over Indio but that will more than pay for itself in the long-run as there is much stronger year-round rental demand in Palm Springs compared with Indio (drop off during non-Coachella season is significantly more dramatic than Palm Springs).

I would aim for 3-4BR (2BR could work but I would definitely shy away from 1BR) single-family home (condos seem to underperform homes there).  You also will absolutely need a pool, but you should also strongly consider a place with a hot tub or consider in investing in one (the desert can get quite cold during certain times of the year; this will help you get those hard-to-book weeks rented out during the non-peak season).

Also, you need to make sure you understand the short-term rental license application with the local government (you will need one of those to rent out legally in Palm Springs). In addition, do not forget to pay attention to the HOA restrictions which differs by neighborhood. There are still some in Palm Springs that do not allow rentals like this.

Happy searching and if you are ever interested in exploring professional property management options while you are away, feel free to direct message me or give me a ring. I have a number of local individuals I would be happy to get you in touch who have helped many of the home owners that I have worked with in the past.

     Be careful in Indio, with a 2 or 3 bedroom home.  Unless you are in west Indio, you may find it difficult to rent a smaller home during non-festival times.  Some parts of La Quinta may be preferable if they are close to downtown La Quinta, golf courses, the indian wells tennis gardens, etc. and not priced much higher, and therefore end up giving you better returns.

   Also, make sure you are up to date on the possible upcoming changes in short-term rental laws in Palm Springs.....and if those changes occur, beware many of them may end up being enacted in Palm Desert as well.

@Zhengran Zhou  first you need to get NMLS license or CA real Estate brokers license to engage in any lending activity in CA.