All Forum Posts by: William Crean

Napa is a "no go" and @Casey Maib summarized the situation perfectly. (i.e. Some locals making a killing and it is a cartel - a license only opens up when an existing one closes.)

Sonoma has taken a different route. 1. Hosting in a home you live in is allowed up to 5 guests (which is great - since this  is banned in neighboring Napa). 2. For a non-occupied vacation rental these are only permitted in certain zoned areas. 

So @Chelsie Runnings and @Michael Greenberg are right and you will have to research the zoning of each property.

Do not be completely discouraged and here are some links that might help.

Santa Rosa GIS mapping interface

https://maps.srcity.org/Html5Viewer/Index.html?viewer=publiccity

X short term rental map

http://sonomacounty.ca.gov/PRMD/Planning/Vacation-Rentals/Exclusion-Combining-District/

county sonoma zoning

http://sonomacounty.ca.gov/PRMD/Planning/Project-Review/Services/Zoning/Zoning/

zoning codes explained

http://sonomacounty.ca.gov/PRMD/Planning/Project-Review/Services/Zoning/Zoning-Code-Regulations/

Random thought (and maybe too complicated) but have you considered converting garage into additional unit or adding internal space to existing unit ? Extra cost of renovation but depending on numbers might add more equity value.

Cody L. That "raise the price" scenario is really interesting. Sorry for the newbie question but why would the seller agree to a price at 20% below the appraised value? In other words, if it appraises at a higher price would the seller not want more money? You mentioned that as the buyer you are getting "a deal" - so does this advice only work in a buyer's markets or where the seller is forced to sell at below value? 

Hair drier, iron or steamer, Coffee maker, Some oil and herbs in the kitchen "Good quality" linens can grab you a few good review mentions

"Tree house" or "airstream" different goes down very well on Airbnb and the hipster market. But it's got to be the right kind of different. So as long as you see something similar doing well in another similar market it can give you some reassurance. Never done and exists no where else is not the type of risk you want.

https://www.airdna.co is a good resource for data. I think you get state or local reports for between $30-50 and it might help you make up your mind. You also can just manually search listings, count reviews and guesstimate occupancy. If it was me (and considering the amount of money invested) - I'd fork out a small amount on data and research.

I would also be very interested in finding a lender friendly to Airbnb investors.

Hi Ryan, Thanks, for that - I am struggling with understanding what I can and cannot do in so far as getting the 20%. I didn't think 100% was even an option, so that's encouraging. The details are that this is a property suitable as a short term rental. It's in Savannah GA which is very friendly to the short term rental market. Cost 172,000 and no major work expected. Gross revenue estimate for short term rental of this sort is 40k per year. Our reoccurring costs will be about 20k including mortgage cost.

I would be worried if this was a registered trademark in your state or at federal level. You can check federal register here http://tmsearch.uspto.gov/bin/gate.exe?f=searchss&state=4808:jakij4.1.1 Not sure about your state registration. If just unregistered rights at play then it's for them to prove (not always easy). Look at the registers, form your own common sense view and get an attorney's view. I used this guy before for federal TM registration and found him good but make your own mind up https://www.gerbenlaw.com Hope some of that helps.

We are looking at our first investment in US for 172,000. I want to put together my financing of 80% with a private lender and cover the other 20% personal loan but I am stuck on the following: 1. Do I organize the 80% loan "first" or "after" I have the personal loan secured (or at the same time)? I worry about all the hits on my credit lowering my credit score such that I might not qualify for one or the other.... 2. Has anyone experience combining peer to peer loans? Should I also apply to a credit union as well? Appreciate any advice or suggestions.