All Forum Posts by: Mike Bolen

Here in Napa Valley, California the county just issued a $100,000 fine to an STR who was operating without a license.  In July of 2018 the city of Napa actually arrested and imprisoned a man for running a non-licensed STR! Napa Valley currently has 126 active licensed STR permits. At one time the number was well over 200 but many were phased out by the lack of license transferability to a new owner. Additionally, there are some neighborhoods that allow STR without a permit. For a high tourism area, Napa Valley is highly regulated.  

Chris, I'm quite active in the Sonoma, Napa & Solano county markets. I own a building and office at the Napa Valley Airport (KAPC) My team just completed a flip that closed a few weeks ago at 1014 Pueblo. Always looking for investment deals. If you have anything send it over 

@Jordan Riordan the simple answer is follow the 1% rule. Which is your rental should gross 1% of the purchase price monthly.

Yes we always have a handful for newbie folks. Would love to have you there!

Visit https://tinyurl.com/BobbyDCigars for details and tickets. 

Sell CA property and 1031 the entire amount into a single property, do not split the funds and buy a larger 6 unit or bigger in NC and enjoy the cash flow and stability. As that pays itself off that cash flow could pay for a new place in CA in your retirement years. 

Your most important factor is not discussed. What are you buying for? Rental, Fix & Flip, wholesale?

A couple items. 

Napa county does not allow airbnb except for a handful of properties that have licenses of which two are on the market currently and asking prices exceeds $4,000,000+. The city of Napa has 49 licensed Airbnb homes and the permit travels with the deed. Currently one is on the market with an asking price of $1,500,000+ 

In the 9 Bay Area counties the only county where you could stay in the mid $400's on a duplex is Vallejo. Vallejo happens to be the best market in the Bay Area and nationally to invest in real estate. Just Google news articles on Vallejo real estate. I currently own multiple properties in Vallejo and looking for more. 

If you need a Realtor referral for that market let me know. 

Thank you 

I'm a contrarian I would say absolutely. But keep your eye open and talk to people about their experience with the coach you are looking to hire. I have multiple coaches currently, I have spent over $300,000 in coaching over the past 10 years. I find people who tell you not to hire coaches usually are new or do very little business.  

Think about it this way. You want a coach who is a subject matter expert and one of the best in their field. Do you think Gary Vee, Ed Mylett, Tony Robbins...etc. are going to allow you to follow them around for a day and ask them 100's of questions and answer your emails?

You are the sum of your network. Anyone on here telling you the knowledge is free and don't spend the money on coaching is broke. Information is what you know. People are who you CAN call, anytime, that's your network. 

I am speaking with authority on this as I have spent the money on coaching and the deal above was not even close to my largest deal in the prior 12 months. If you want next level results you have to hire professionals and tap into their network.