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Investing in Big Bear with Natalie Palmer
Natalie Palmer, a co-host and STR investor based in Big Bear, California, shares her journey into property management, co-hosting, and insights on real estate investing during a podcast hosted by Avery. They discuss market shifts, regulations, and upcoming events in the short-term rental world.
Avery: Hey guys, welcome back to the show. Today we have a really cool guest, Natalie Palmer.
Natalie: Hi Avery, thanks for having me. I’m Natalie Palmer, and like Avery said, I’m a co-host. I do a lot of co-hosting and all my properties are based out of Big Bear, California. I also have my own podcast called “No Vacancy,” and most recently, what I’m excited about is planning the Level Up Your Listing Women’s Summit, which Avery, you will be hosting our Real Estate Investors panel. So, I’m super excited to have you there in just a couple weeks.
Avery: Yes, I am very excited that you guys invited me. Thank you so much!
Natalie: Yeah, looking forward to it. You were a very obvious choice for sure. Actually, I have a girls group, we’re all STR investors, and we do Taco Tuesday every month. Everyone in the group is obsessed with you. Like, two of them have bought through the Short-Term Shop and stuff, and when I told them you were going to moderate one of our panels, they were freaking out.
Avery: You’re definitely a little celebrity.
Natalie: Oh, well, good! I’m so happy to hear that. I really appreciate you guys inviting me. Let’s talk about you, though. So, let’s start at the beginning for those who may not listen to your podcast, though I’m sure everyone does, but we’re going to interview you like you’re new. So, for everyone who doesn’t know Natalie, tell me what’s in your portfolio at the moment.
Natalie: Yeah, so I currently manage nine properties in Big Bear, California. Two of those are my parents’, and that’s how I got started in hosting. They had a second home there, and I just asked if I could throw it up on Airbnb. They were sketched out at first, but once I got their permission, it was full steam ahead. During one winter season, we made enough that my parents reinvested into a second property in Big Bear, and I had to start managing that one. Then, basically, neighbors in Big Bear approached me and said, “Your place is booked all the time, and we see your guests coming in constantly. Could you start managing for us?” So, somehow, I fell into co-hosting. After about three and a half years of doing that, my husband and I bought our own property there. So, I currently manage nine: a mix of owning the one with my husband, managing some for my parents, and co-hosting for other owners.
Avery: Awesome. So, did you choose Big Bear, or did you kind of fall into it?
Natalie: Oh, I would have never! I’m very much a beach girl, and I love the desert. I love Palm Springs and Joshua Tree. If I were starting from scratch, I would never have invested in the mountains, but there’s nothing worse than driving up to deal with something like a frozen pipe. I don’t know people who live in snowy places. I live in Orange County, and snow is just not my thing.
Avery: Right, I get that.
Natalie: Yeah, but I mean, it turned out to be a good investment. I will say I’m not investing in Big Bear anymore. I think you have to do something really special to compete in that market, and they’re cracking down hard with rules. I’m not leaving any of the properties I have there, but I’m definitely looking to pick up in a new market right now.
Avery: Okay, let’s talk about that. All I heard about like three years ago was Big Bear, Big Bear, Big Bear. Now everyone’s saying the regulations are changing. Why do you think that is?
Natalie: The market checks a lot of my boxes in terms of places that I would potentially invest in. It’s a vacation market, regional, drivable, all that stuff.
Avery: Yeah, that’s a very good question.