All Forum Posts by: Jay Hinrichs

Its this type of thing that drives many of us Nuts.. here you are you have no ability to close unless you find someone.. this to me is just so wrong on so many levels.. I am not sure where others stand.. but from my point of view get your funds together first then go shopping your just wasting everyone's time..  And of course if you can't do it you simply back out this gives the industry a bad name... ITs wrong to go into the deals with no capital lined up in my opinion.

@David C. 

  PG in this instance is not appropriate or would carry any weight for anyone investor that was experienced.

@Nicole Pettis 

regarding your post above.. How do you know if your investor really has any money or access to money.. Has he proved that in any way for you.. IE bank statements showing funds.. Letters from HML or private investors are basically worthless... And or give you address's were you can verify he owns a property or 2 or 10... Or any other references that you can check out..

@Trevor Ewen 

  Many top agents would kill to have a really good assistant that can do all the stuff they are to busy to do.. And marketing is the key... Nicole could simply offer her services to a top producer for free and get paid when a deal closes.. No agent would turn that down. Its no different than putting all this time in for free and getting frustrated at least you would get paid when a deal closes... I worked myself into some really neat positions back in the 80's by working on the come ...

@Dawn Anastasi 

  your football analogy has a minor difference.. Brett Favre would make 10 million a year sitting on the bench.. because he was a part of a team....:)

@Nicole Pettis 

  I am going to change up a little here.. First off just like most things RE is a business were 10% of the people do 90% of the transactions.. that's just a fact. And its very tough.. The excitement that is bandied about on BP with all the new folks is nothing more than what you would get from Guru's or educators.. the only difference is its free on BP...

That being said I would strongly suggest you study and get your RE license and go to work for a good brokerage start on a Keller Williams team a top agent would kill for someone of our experience with marketing and other skills you mention.. Then you will GET paid to learn and they will mentor you... And you don't have to sift through all the fakes on BP and other unscrupulous people that try to flip houses that have no money and no second thought of wasting others time and money like what has happened to you.

And you may just excel at being a RE broker.. A good broker in your market I am sure is a solid 6 figure income and a great career plus the networking is with those in the business in your Community not like networking here were what works for some investor in Atlanta or LA or Vegas is not going to work in Wauwatosa ( Were my grand parents lived right off of North Ave used to visit them in the 60's)..

Give that some thought, talk with your family interview at a Keller Williams office they are great at teaching new agents.. I have owned a few brokerages and I know a good training company when I see one.. Get on a top producers team blow them away with your marketing skills that most top agents don't have the time to do... And maybe you will end up specializing in selling high end lake frontage which carry 20k to 50k commissions or selling stuff out at Pewaukee on the water you know something like that... A good agent in our Portlandia market easily makes 200k a year.  If you put the time dedication into being an agent that you have into being ( not sure what you were trying to be maybe a wholesaler) It could be very rewarding.. It worked for me I got my license at 18 and never looked back..

@David Johansen 

depending on were you are at it is very easy for tax's to be double.. In Mississippi for instance that is the norm... in CA its prop 13  tax's are based on what you paid for it and only change very very slowly over a long period of time.

so you can have a home in Say Palo Alto that was bought in 1985 for 250k so tax's are about 1.3%  then the house next door just sold in todays market for 2.2 mil and the taxs are 1.3% of 2.2 mi.  so two houses next door one the tax's are 3k a year the other 25k.

In MS in my expeinrce there homeowner exemptions are close to 50%

@Jeff S. 

  you beat me to the insurance aspect I just took it for granted all these years as my credit has stayed the same from the time I first had a credit score to 40 years later.. or basically the same as I have never missed or been late on any financial obligation... knock on wood.

I was doing a closing in Mississippi on a NACA deal.. and it was one of those wet closings were the buyer and seller are there at the same time ( which generally I think is not a good idea) and I noticed on the buyers paper work that his insurance payment per month was higher than the mortgage payment... I inquired how that can be well it can be because they had and have crappy credit...

Credit score is a must in most if not all lending situations if you want to get out of high interest borrowing environment.. you want to be able to walk on a car lot get the 0% financing and walk off with your new car in 2 hours after haggling price. etc etc.

HML on the west coast definetatly look at credit and income just like banks.

@Claudia W. 

  if you want the south  Charleston SC is pretty cool lots of jobs.. houses are 150k and up basically.. and there is a nice upper end rehab market there... Lots of culture right on the ocean.. hot and humid as hell and lots of bugs just like anywhere else in the south... They don't call it Hotlanta for nothing. 

@Claudia W. 

  if you want something a little bit smaller looking into Spokane Coeur D aliene awesome big lake in the vicinity great skiing within 45 mintues 4 seasons for sure.. and plenty of rehab opps and decent prices....  then you have  Wenatchee it is smaller but you get 300 days of sunshine and awesome outdoor activities and not quite as serve winter as Spokane.. both have daily flights to major hubs..  and with the funds you have you can buy a nice place and there is not crazy competition.  Plus NO state income tax.