All Forum Posts by: Jay Hinrichs

@Steve Perkins 

  as we gain momentum I believe the reviews will follow along the line of Trip advisor.. IN that most companies will do very well and there will be the odd review were someone nags a little.  this is to be expected.. But also the companies that do a great job want to share the success of their clients...

I know for me I am Going to Singapore in Sept and staying at the Ritz Carlton for 10 days.. NOw what's not to like about the Ritz.. Well on Trip advisor there are a few that did not like it for some reason.. and those are valid to read.. but when you have 30 for and 3 nay you know the place or company is doing a good job.  that's how I see our site evolving.

@Joshua Dorkin 

@Brandon Turner 

This is great feedback... as to what others are looking to get out of a pod cast one thing I think would be beneficial to the BP listener is bringing on guest that touch on sales techniques .. the art of the deal ,, how to close,, how to relate to people... Anyone can as you say teach the mechanic's IE send out a yellow letter etc etc.. But listening to real Sales pro's who can seal the deal would be cool I think.

@Lee Sal 

  different kettle of fish  when you explain your intentions.

30k in PH will be pretty rough though as well.  good luck  in your search

@Curt Davis 

  Thank you for your comments we are peddling very fast to get up to full speed.

@Jeff G. 

  the issue is the OP is in Australia and what happens is most foreign investors gravitate to the large metro areas were 30k homes are square in the HOOD.. And fraught with Risk

YOur correct though in outlier smaller communities in the mid west one can make a go of it. Especially if you live there and work it..

@Gregory H. 

  those credit lines may have had PG's so if things really cratered bank would come after him personally...

But I agree with you.. Equity in my mind is never a bad thing.. Cash reserves are MUST and are not talked about enough... in my day when I had over 100 foreclosure I was prosecuting on LA based Turn Key buyers who had leveraged to the hilt and had to reserves I became the proud owner of all those homes.. Of course we never imagined the train would run off the track and so far into the woods as what happened in 08 ... I mean I had done 2,000 of the same HML transactions over a 10 year period with nary a default then it became a cascade and those with no reserve's got wiped out. Those with substantial equity or paid cash weathered the storm much better.

@Samantha Bradshaw 

  call local RE brokers offer to work on a deal by deal basis... study and get your RE license Join a team of brokers.. you will earn while you learn and your not all on your own.

trying to break into RE by wholesaling etc etc is a 1 in a 100 shot at best for most people. A RE license and career is something you can work into and get paid to do it.

@Ben Leybovich 

  and I do not mean to down play at all the effort or skill it takes to raise money through a PPM offering.. I have done a few in my day and they are TOUGH TOUGH and I have a deep amount of respect for those that can pull them off.. The disclosure language which I call 50 ways to lose your money right there is enough to get the average investor to run for the hills..... And god forbid a PPM deal goes pear shape those are clusters when that happens.. . And its generally not the province of Newbies trying to get into the game you usually have to already have some deep contacts.. You have the advertising rules.. ( which of course are broken quite often) the accredited rules  etc etc.  But once you get that critical mass and have the clientele base then it just becomes another Ben Deal to the investors. Or it can be looked at that way.

@Gregory H. 

  depends on the asset.. as Joe is stating and I would agree with his position if I was investing were he invest.. I would shift the risk to the banks ... And want to preserve my cash.. the risk is assets that devalue because of circumstance's outside your control no matter what the cash flow is.

@Ben Leybovich 

  I do live under a rock a mossy one at that. so did not listen to the podcast.

OP said that a statement was made that Multi family is bullet proof and you can't lose and he took exception to that statement.. I would also.. We have all seen nice properties get run down and those that owned them lost big time.. Just like any other asset you can and people do lose in Multi if you don't know how to run it.. Or your multi got over taken by the Ghetto ect.

but your example of the deal your doing is simply stating  YOUR putting non of your money down.. But the deal requires actual cash equity that is coming in through your PPM.. Nothing new or original in that concept or way of structuring the deal and its far from No money down.  Your leveraging your contacts with OPM there by putting you into the deal with NONE of your own cash...

Many of us in the business have done this,, do this , and will continue to do it.

In my mind true NMD is buying an asset with no partners and putting none of your own money into the deal.. which usually occurs in some sort of Sub too or owner finance deal. And these deals happen all the time and in all markets..