Wonder if it makes sense to invest in rentals in Tahoe. There are seems like a ton of houses on market under 500K which for many of us in BA quite affordable to buy/finance. Any insights here from Tahoe’s land lords ?
Don't bother, the permits are far too limited and getting worse. Tahoe doesn't want to be an airbnb town.
Agree. I did ton of research and also put an offer on couple homes. Permits are an issue now. Prices have also gone up in last two years so you will be paying premium now. And Tahoe is not like bay area where prices hold steady.
I think in NV or outside SLT still doesn’t require a permit? NV may have some tax advantages if you claim it as your primary residence.
Bad idea. Better: timeshares.
What's the best way to deal with timeshares? I've heard buying from sellers is better but is it better to buy a few weeks and sublet weeks you aren't using?
That is the worst advice ever unless you get it for free from someone who doesn't want it anymore and only pay maintenance cost.
Best way to deal with time shares is to avoid the scam altogether.
Tahoe’s prices go down the most during economy downturn because people prioritize selling of their vacation home.
This is a crucial understanding for any investment in a vacation area (Tahoe or otherwise.) You need to be secure in having the cash flow to carry the asset during bad years AND to mentally be cool owning an asset that has lost value. In a downturn the rents dollars go down and the value goes down - they are first things people cut.
In the past many decades, trying to time the market to purchase a primary home hasn’t really worked. But does it work for vacation homes?