Buying an investment property in Big Bear?
Here is a list to get you started on what you should be looking for.
When it comes to callers looking for a vacation the high demand things they ask for are:
1. Location
2. Occupancy
3. Amenities
Location
Just like the old saying goes Location...Location...Location. Depending on the season, guests would like to be near what the favorable sport is at that time of year. If its the winter they ask for Moonridge. If its the summer they want to be near Big Bear Lake. One thing I always recommend is staying in a central location in Big Bear Lake if you can. Reason being during the summer the lake and surrounding areas fill up. During the winter Moonridge is the popular area however when that fills up the lake and surrounding areas are second. Moonridge isn't as popular in the summertime with the exception of Long Term Rentals (1-3 months for those vacationing from the desert). Not to say that it won't rent up there- with the right Vacation Rental Management company and the right marketing they can fill up and create occupancy up there- it just doesn't happen as naturally as being by the lake.
Occupancy
Obviously the amount of people that the home can sleep helps in how much it rents. With our local code enforcement Vacation Rental Homes are only allowed to sleep 1 person to 200 square feet in the home. Example: If a home is advertised as 1000 square feet we can only truly advertise it as sleeping 5. With a 900 square foot home you are limited to sleeping 4. Also anything that isn't included in the title isn't counted in occupancy calculations-so be careful when shopping and making these sort of decisions. Also with occupancy the majority of our callers are looking for something that sleeps 4-6 people, which would translate into a 2-3 bedroom with 800-1200 square feet.
Amenities
Anytime you are going on vacation you yourself are looking for the most you can do in the surrounding areas. Just like you the guest wants the most to do not only in Big Bear but in your home. The more things like spa/jacuzzi, pool table, Foosball, sledding hills, board games, movies etc you can put in your home the better. Generally on the investment side of things you can charge more per night because of these amenities too. Not limiting yourself to these amenities you can add your own or purchase a unique home that stands out in the large pool of vacation rental homes. Examples could include a dome home, a sauna, a wet bar etc.
Hope this helps in your search for an income producing home in Big Bear!
When it comes to callers looking for a vacation the high demand things they ask for are:
1. Location
2. Occupancy
3. Amenities
Location
Just like the old saying goes Location...Location...Location. Depending on the season, guests would like to be near what the favorable sport is at that time of year. If its the winter they ask for Moonridge. If its the summer they want to be near Big Bear Lake. One thing I always recommend is staying in a central location in Big Bear Lake if you can. Reason being during the summer the lake and surrounding areas fill up. During the winter Moonridge is the popular area however when that fills up the lake and surrounding areas are second. Moonridge isn't as popular in the summertime with the exception of Long Term Rentals (1-3 months for those vacationing from the desert). Not to say that it won't rent up there- with the right Vacation Rental Management company and the right marketing they can fill up and create occupancy up there- it just doesn't happen as naturally as being by the lake.
Occupancy
Obviously the amount of people that the home can sleep helps in how much it rents. With our local code enforcement Vacation Rental Homes are only allowed to sleep 1 person to 200 square feet in the home. Example: If a home is advertised as 1000 square feet we can only truly advertise it as sleeping 5. With a 900 square foot home you are limited to sleeping 4. Also anything that isn't included in the title isn't counted in occupancy calculations-so be careful when shopping and making these sort of decisions. Also with occupancy the majority of our callers are looking for something that sleeps 4-6 people, which would translate into a 2-3 bedroom with 800-1200 square feet.
Amenities
Anytime you are going on vacation you yourself are looking for the most you can do in the surrounding areas. Just like you the guest wants the most to do not only in Big Bear but in your home. The more things like spa/jacuzzi, pool table, Foosball, sledding hills, board games, movies etc you can put in your home the better. Generally on the investment side of things you can charge more per night because of these amenities too. Not limiting yourself to these amenities you can add your own or purchase a unique home that stands out in the large pool of vacation rental homes. Examples could include a dome home, a sauna, a wet bar etc.
Hope this helps in your search for an income producing home in Big Bear!
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