I have lived in Truckee for over 23 years and understand the pain you can go through dealing with a local government where the answer you received on Monday is different than the answer you receive on Tues, Wed, Thur & maybe even Friday if anyone is working.

I’ve been dreaming the last few years of starting an event venue, something for weddings, gatherings, etc., preferably with a great outdoor space.

You would then stress to not incur any improvement cost above $22,000 or you may have to liquidate the property.In this scenariod, $60,000 if you are making an above return at 10% to 12% annually + $30,000 making $4% in a HYSA, the average return is maybe around 8%The blended return would be about 9%You may be better off investing in the stock market, get a slightly lower return but without all the added stress / work.

Originally posted by @Michele Davidson:@Alex YeaterWe are selling our bed and breakfast business complete and turn key with wedding items.

Yea I have been talking to some mentors and they have stressed the importance of having instant equity and multiple exit strategies in a market like this.

They've neglected their recordkeeping all year long and now find tax time to be very stressful. 

That being said if you are willing to start with a smaller property or have more cash reserves than we did as we were preparing for our wedding you can make the deals happen you just have to be creative with it. 

Find a valuable agent to list them, or work with @Dave Foster to 1031 properties, and you'll be less stressed. 

Recently came across a lake house which we would like to rent out for weddings and event venues.

From sourcing turnkey rental properties to finding long-term residents, and comprehensive property management, our expert team offers a full-service solution for a truly stress-free investing experience.