One of the great benefits to owning a second home in Big Bear Lake is the possibility of vacation renting one's property to help offset the cost of ownership. Lakefront homes tend to do quite well in this regard as lakeside properties are the most desirable amongst renters.
One current lakefront home listing that has exceptional rental income and is 39599 Lake Drive, a 5 bedroom, 3000 square foot home located on Metcalf Bay. Here is the visual tour for your review.
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This home has had a multiple year average of approximately $8000 in gross monthly rental income. Listed at $1,475,000, with 20 percent down the remaining balance at a mortgage rate of 5% interest is approximately $6000 per month. Being that this home is currently managed by a vacation rental company, there are fees associated with their services. And of course there are utility and maintenance costs to consider. But at the end of the day, one's cost of homeownership has been significantly reduced by rental income making this quite attractive to most Big Bear lakefront home buyers.
When looking for a home with the intent of vacation renting, it is important to realize the difference between rental potential and rental history. Rental potential is based on a guess as to what a property might earn whereas a rental history shows what a property has earned. The longer the history, the more certain one can be of future income potential. As well, the longer a property has been successfully rented, the more likely it will have repeat renters which adds to a more predictable annual income. 39599 Lake Drive's rental history is one such example showing consistency in rental income over multiple years.
If you're looking for a lakefront property in Big Bear and vacation rental income is an important factor to you, 39599 Lake Drive is certainly a property to consider.
Paul Zamoyta ~ Info@Zamoyta.com ~ (909) 557-8285