All Forum Posts by: Jay Hinrichs

@Account Closed 

  Stu I funded 2000 of those over the last 15 years  give me a call I can clue you in.. as others have posted its a waste of time and money you will never collect your rent.

And those of you reading this post beware of the I invest out of state Only routine its bull crap.. its only because those that post this type of thing make money selling out of state RE.. nothing more nothing less... If you want to go out of state go direct to a turn key provider no need to talk to middle persons sitting in LA who really don't own anything and maybe have bought one or 2 rentals in their career..

@Kimberly Land 

  tagged the wrong person... LOL

AS for this thread just as many buy and hold investors failed as did builders developers I foreclosed on literally hundreds of buy and hold investors from LA so failed during the crisis.

those that live in the community did better

@Wendell De Guzman 

  plus with a tape that large you will get a lot of frogs  !!!

@Wendell De Guzman 

  been there done that... Cherry pick if you can.. I got very frustrated trying to buy large tapes.  One time I had 5 mil in escrow for 3 months on an indy mac tape that never closed.

have had success as I said cherry picking ...

not interested personally was just curious if you were a broker or just helping a friend for a fee...

@Will Gaston 

  you may be able to put them on a builders risk policy.. my builders risk you just add and subtract properties monthly by filling out a simple form...

@Mark Creason 

  In Oregon its the Hunting Flu  first Deer then Elk.. half the state shuts down.

One of my GC's was gone last week another is gone this week... And both will be gone end of Oct or Elk... Elk is only a 5 day season here so as stated things just shut down... Just have to go with the flow.. On the flip side our subs work in the rain year around.

@Larry Turowski 

There is nothing passive about being the RE business if it is not one thing its another.. No matter the asset class.. some are easier ( like Joel says NNN national tenants ) .

But what most BP ers are doing which is the buy and hold rental game and or flipping one quickly finds out there is a lot more to it.. and its hard work and a lot of it.

Also with REhab contractors on the lower end stuff if you trying to get the cheapest prices your going to deal with these issues... In our new home construction the subs do one job. The subs get paid once a month  their draw needs to by to my accounting dept on the 1st get paid on the 10th.. if they are one day late they get paid next month.. Try to get the average rehab contractor on that pay schedule ... Also we NEVER pay for anything in advance.. but in the rehab of rental game its pretty common to have to front money to the the rehabber to get started .. these guys just don't have a lot of capital to work with and are really week to week or month to month at best.

@Wayne Brooks 

  Sounds like turn key tax lien investing... obviously the company wanting to sell or broker the tax' liens are expecting some profit for doing so.. SAid profit being on top of what one would pay for the lien.. Or just guessing here this company scouts out those that have the high interest rate tax liens proves that they bought a worthless tax lien offers pennies on the dollar and then resells for profit.

@Steve Doherty 

  why don't you just go buy your own tax liens at the tax sale why pay a premium for them?

I suspect by asking this question on BP you just saved yourself from entering into to a deal that would not be fruitfull in any way... My experience with tax cert states and I am by no way any expert but I have been to half a dozen sales and I know when I see a court house controlled by the local big players when  I see one and that is what I saw in the tax cert bizz the big boys gobble them up and the private investors are picking up the crumbs.. at least that's what I saw in MS.

Circa 2011  I should have bought every home I could have bought in Henry county GA.

and every lot that was 3k and under.

its an accurant product  google it