AirBnB
- Thread starter Dominic
- Start date
AirBnB is getting a bad reputation in resort areas like Big Bear. If you want to get a taste of that, read some of the pots in the Big Bear facebook group.
Perhaps I should have been more clear. The increasingly bad reputation of short-term rentals will probably lead to local governments taking action to drive them away with regulation, fees, and taxes.
We had a STR house in Temecula for a while. We never made enough to cover costs until we got a long-term tenant.
Let me add another observation. My wife is still an active realtor when she has the time for it and right at this moment has two single-family residences listed for sale. Both of them had queries (not really offers, but agents seeking more information) from corporations or their agents who suggested they could make an all-cash transaction in less than 30 days if they could just lowball the price. That appears where the market is heading these days, corporate landlords who can afford to undercut the traditional single-family real estate market in the short term looking to corner the market, believing that any long-term financial problems can be solved by simply raising the rent.
My friend is big time in this space. He makes a killing in OC and just sold his LA place to big corp because of the crime. He got cash offer in one day and it was above the asking price. His OC places are making him lots of money so he can live free. He and his wife live in Bali and live like King and Queen.
Multi Sport
DA
Dude... Bali is so nice.
Yes it is. My other pal Colin is moving to Bali in two years. He lived there for 6 months and decided to work his ass off for 8 years and then live the rest of his life being treated like a King.