Does Buying A Rental Property In Big Bear In 2024 Still Make Sense?
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- Опубліковано 7 лют 2023
- Does Buying A Rental In Big Bear Still Make Sense? Buying an airbnb in Big Bear has been a popular decision over the last 5 years but does it still make sense? Can you still see a return on your money since the home prices inflated so much? How much money can you make? In this video I head to Big Bear and crunch all the numbers. Can you make money investing in Big Bear? Is Big Bear and good place to invest? Can I make money in Big Bear rentals?
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Everything is more expensive here, including paying people to clean. Don’t forget we have to pay taxes to the city. Property management is more 15-30% depending on what is needed.
its not cheap
how much is it to get a cabin cleaned? 2 bedroom 1 bath 800 sq feet-ish
Forgot about Big Bears 11% Hospitality Tax lol........ maintenance?
Love the video Matt, only thing I’m questioning is if you should include the $90 cleaning fee in revenue. The way you’ve calculated income (I think) assumes all 200 nights in the year are one night stays and thus collect the $90 fee (which I would guess won’t be true) and I’d assume unless you live in big bear you’ll have to pay someone to do the cleaning.
Hi Michael
From what I have seen if you stay for two days the cleaning fee will be higher and its just a way to make extra income. Yes a cleaner will be needed but really just to do some laundry as most airbnbs make you wash up the dishes now and take trash out so I do believe you can keep a lot of this cleaning fee as income. Also I did the numbers so conservatively that I think you will still come out around $1000 a month profit.
Thanks for the response! Totally agree about your numbers seeming conservative, I’ve checked big bear Airbnb rates for a few months and seen them a lot higher! And good insight about the cleaning fee, we haven’t short termed before so interesting to hear. @@TheBritishBlokeRealtor
@@michaeleidem2524 yes still money to be made in big bear that is for sure.
Be careful when it comes to looking at price reductions. Many times it is a con. A person can list a home for any price. Then they can remove the listing and then list it again for 20% less. The original listing price means nothing.
yep agreed.
Hello,
I’m wondering what regulations Big Bear has on those short term rentals.
Thanks!
Hi there.
Shoot me an email at matt@thebritishbloke.com
More than happy to help.
How come you don’t mention the taxes for California
I'm not a financial adviser and taxes are very personal depending on whether people have one rental or 10 and how their account crunches the numbers. If you are paying taxes you are making money so thats good.
Why are you counting cleaning fees as income, that’s such an egregious oversight or intentional padding of numbers.
"Does Buying A Rental Property In Big Bear Still Make Sense?"
No, AirBnB is dying due to excessive fees, and the housing market bubble is going to pop. Oh yea, and those high interest rates.
I have been trying to reach you but your phone is not active.
Hi Cruz
Call me at 323 350 5770
Thanks
interest rates are 7%+
For now. 2024 there will be a good amount of relief
numbers are conservative i believe real numbers are tighter
yes you might be right.
I don’t know why you think it’s possible to rent 200 days per year! Most people only rent on weekends and holidays. Cleaning fees are at least $150. When renting it people turn up the heat so that’s extremely expensive! People also break furniture, create wear and tear ect. Definitely not worth doing as an investment in 2024
I'm going on data provided by airbnb for the 200 days.