Should I buy a rental property in Mammoth Lakes?

Season's Four Mammoth Lakes
Jamie

Should I buy a rental property in Mammoth? We get this question a lot. While owning a nightly rental can be unpredictable as far as an investment standpoint, some key things to consider would be:

1. Do I love Mammoth? If you love Mammoth as much as we do, it's a great idea to buy a condo here. The cost of renting properties coupled with the cost of lift tickets, equipment, etc... can add up quickly, especially when you have a family in tow as well! Owning a condo in Mammoth enables you to come up any time you like without the added cost of renting. And being able to rent it out when you are not using it covers the costs of owning. On big snow years, you can see quite a profit on your rental as well. 

 

2. Will I use it enough? Even if you only come up a couple times a year, the cost of renting can often times equal the cost of your down payment on a condo. If you don't come up very often, you can let the condo get rented out in the mean time! Our rentals stay busy most of the year. Our only slow times are May and October. Other than that you will see bookings very consistently. We see a lot of clients buying the condo to come in the Winter but once you experience Summer in Mammoth, it will quickly become your favorite place to be! A lot of our owners use their property throughout the year and still make a great profit. 

 

3. Will I like owning a nightly rental? Owning a nightly rental is actually a lot of fun! Setting the properties up for your guests can be some work at first but when you start seeing those great reviews and experiences come in, it is always exciting! You know you are creating memories for people that they will carry with them for years to come. Seeing the money roll in is also just as exciting! When you have Ready 4 Rentals managing the condo for you, it is little to no work beyond set up. We are here to ensure your property is safe and your guests are having fun. 

 

There are a lot of factors to consider when buying in Mammoth but as top Realtors in the area as well as owning a top rental agency, we are here to help you make the best decision possible! Contact us today for more info on buying in Mammoth! Visit our real estate website: www.MammothLakesProperties.com