Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Mike Bolen

Mike Bolen has started 6 posts and replied 84 times.

Post: Medium Term Hard Money Pool

Mike BolenPosted
  • Investor
  • Napa, CA
  • Posts 95
  • Votes 62
In my experience hard money will work just fine for a buy and hold investment so long as the cap rate exceeds the interest rate. The higher the interest rate the better deal you'll need to acquire. With that said you'll almost surely need a 20%-30% down payment to get a hard money lender to finance a commercial deal. If no down payment then move to plan B.

Post: Should I use an agent?

Mike BolenPosted
  • Investor
  • Napa, CA
  • Posts 95
  • Votes 62

@Mitch Turgeon I agree with @Mindy Jensen the seller, if represented by a Realtor, has signed an agreement to pay typically 5-6% of the sales price to the listing agent. Considering you're not an agent the likelihood the listing agent is going to have to handle your side of the transaction along with her own side of the transaction is about 100%. The liability incurred by both the listing agent and the seller allowing a buyer to represent themselves should immediately preclude accepting an offer from a buyer representing themselves. 

Additionally I feel it sends a message that the investor is unprofessional and unsophisticated. Purchasing a property for investment or flip should be economically feasible without having to resort to cutting corners to save a buck by not using professionals. 

Post: Investor in Napa Valley

Mike BolenPosted
  • Investor
  • Napa, CA
  • Posts 95
  • Votes 62

yes indeed Jay, from American Canyon to Calistoga lots of remodel and new construction happening. Great to connect

Post: Investor in Napa Valley

Mike BolenPosted
  • Investor
  • Napa, CA
  • Posts 95
  • Votes 62

Always looking for investment deals in Napa county. Fix & Flip, long term hold, apartments, vacation rentals...etc.