All Forum Posts by: Jay Hinrichs

@Dean Letfus 

  let me add a few to your list Dean

KC,, Rochester,, INdy, St Luis , Atlanta, Philly  ( see west coast marketing companies on BP that hawk that stuff).. The hood is the HOOD end of story.. We did a large amount of bizz with Aussies for years.. the sales from there is but a trickle because they were abused so badly by Aussie and US wholesalers that again in my mind were criminal is not sociopathic in their approach and not caring.. I spent years posting on AUssie forums.. Just like BP I have nothing to sell.. ( as you know I just finance flippers US wide) but I don't have anything to sell to end users. And the horror stories abounded...

NOt sure what to make of it all. But at the end of the day the statement @Melodee Lucido 

makes about her filling a need on low end houses just does not ring genuine to me.. She knows that these investors not only are NOT going to get half of what a better property would bring but in all likelihood will loose thousands if not the entire investment over the course of the investment.. Seen it first hand to many times to count.. No one can BS me on this fact. And I know its a ra ra section for all of you guys on BP trying to sell this stuff.. from the NOn licensed agenst in LA who post on here every chance they get to the turn key companies that are flash in the pans.. there is a reason banks don't loan in these areas.

End of the day its all about money and greed and duping the poor investors who just read the blue sky BS that is bandied about on this site how your going to get rich buying and holding cash flow property and because everything is so expensive in LA you MUST come to Memphis and buy dirt cheap pieces of crap houses.  That will bleed you to death.

There is a reason there is so many low end crap houses avabliable because landlords FAIL everyday of the week. and those that promulgate these areas are FAR WORSE THAN ANY GURU THAT IS vilified on this site.

Ok so maybe I have a strong opinion on this but it is the other side of the coin that no one On BP ever talks about or if they do its all soft balls... I am sick of seeing nice investors getting hosed buying stuff form these folks they should never buy in the first place. Do you guys not realize this ruins families at your expense.

@Melodee Lucido 

  at least you did not say you sell 10 properties a month  LOL.. that's the usual mantra from TK companies. then when they get bit its 10 houses a month.

having been in and around this since the beginning ( 2002) well basically the beginning there are far and few companies that could do 10 a month and very few that did more.. I have funded many that did 5 to 7 and last year my star probably averaged 15 but they were rock stars.

Not sure whats going on in Memphis I have done some bizz there maybe 100 deals over the years all I know Is if you buy low end in Memphis you mine as well throw your money down the toilet. Frayser et al I took properties back there and its a freakin nightmare of epic proportions.. it was mainly the GB marketers that hooked up with terrible US partners that sold that crap.  I don't mean to tear anyone down but lets just call it like it is.. Hood rat houses are not appropriate investments for anyone who does not live an work in the area and stay on them like a hawk.. much of what gets sold in these areas TK if its low end is really really bad investments. and only you the TK operator will make money your profiteering on good honest AUSSIES or GB's or SOCAL folks.. so look within

@Account Closed 

  Joe disagree... title companies in our market will balk.. this will never go to court. And even if it did it would take the year of the lease term to go through the motions. and as long as they have a valid lease it would never be considered fraudulent.

And a valid lease in OREGON will definitely cloud  the title . .Been there done that on both sides of the issue.  You have Marshal law in Texas we are liberal here in Oregon :)

Bonding around this type of action is RARE as hen teeth and just won't happen  the only way that would happen is if the person that wanted to bond around it,  Was a Major and I mean major player in the RE business and strong armed the title company. and Remember we don't use attorneys here in Oregon or the west coast to fight these battles. Its title companies and bean counters.. the bean counters are not going out on the limb to write around this type of transaction.  Where I have run into this is with foreclosures I bought that had leases for nursery stock and they were valid and recorded.. I had to wait one out 3.5 years. If it had been twenty I would still own it.  If this person has  a VALID market lease there should be no problem unless as you state someone buys it and can prove they are going to move in the house.. Which again just does not happen in our market here in the foreclosure world.. I Have seen it happen maybe 3 or 4 times in 20 plus years.

@Steve Babiak 

  post marked 2 Aug 2014.. return address is in the city my property is in but obviously a mail box's etc. type of joint.

I can't give up my secrets here on BP, however my direct marketing is pretty darn effective, however been doing it a long time and its not conventional in any manner and I never thought of selling the system

@Derek Moya 

@Account Closed 

  Joe is correct on the owner occupied.. however as I was one of the larger foreclosure buyers in this county for going on 10 years I probably will know who bought your home if it indeed sells 3P

And most likely its a Judicial foreclosure as Oregon through out TD sales ( all thought those are coming back).. Go Right over to Hillsboro to the county court house walk into the recorders office and record your lease.. this will give constructive notice and it will cloud the title. along with the 6 month right of redemption ( now many of the guys I know will buy redemption rights up front) this may not be the case.. And again unless as Joe states someone buys it to live in  ( Very RARE) if you have a bona fide lease at market rate.. the new purchaser is bound to the lease.. And not to worry only about 5% of homes that go to auction are sold 3rd party. .You will probably be dealing with the asset manager or bank that took it back.. They won't give you a hard. time..

However as I stated recording the lease cost you 20 bucks or so but will all but assure you your tenancy through the term.. Not many title companies or any will write around that exception and give clear title.

@Steve Babiak 

  All my properties are free and clear I have no loans on any of them.. Not up there with the accountant from CA but I have my fair share :)  Data point these are 200k plus homes not 10k to 20k homes.

The one this yellow letter was addressed to is pending at 205k...

How many of you who worry about this stuff have been SUED on this issue.

I bet NO one.. unless your just an absolute blatant A hole  IE you tell them to their face you rent to them because they are such and such.. NO is going to SUE you .. get over this stuff. these folks can hardly afford rent much less SUE you...

@Jon Klaus 

  If your doing that much volume that you can afford call screeners that's a whole different kettle of fish from the newbie sending out 500 letters.. I suspect the seller of Yellow letters makes a huge amount on those that try 500 and never do anything and never come back to order more. Marketing as we all know is all about consistent message and cost a bunch to do correctly. One can get very lucky ,, but for every newbie that buys 500 letters and scores a deal I bet there are 20 to 50 who order the same amount try it once never get a deal and give up.. So its just like the Guru's sell info on how to make money but only those students with perseverance will succeed....

@Jon Klaus 

called just answered with his name and leave a message.  will see if I get a response.

In my direct mail and telemarketing days my pet peeve was answering live.. its makes all the difference

Just called and of course went right to VM