All Forum Posts by: Jay Hinrichs

@Joe Villeneuve 

  I got out before the crash.. it was my clients who I lent hard money to that then did a rate and term refi like your talking about that got crushed.  and many walked lost their credit standings etc etc.. I was fine.. this happened all over the country as well as we all know..Even much of CA... in my state Oregon we had about a 20- to 25% pull back off of the mean.. High end homes though got it bad 50% was the norm.. so a 2 mil home in 07 sold for 1 mil in 09 and is probably back to 1.3 or 1.4 today.

The mean in our market is just under 300k after bottoming at 260k so we are right back at 07 levels JUST about.

And I whole heartily agree if you live in a market and know the neighborhoods and can react to situations. then by all means load up on those low  value assets... But for people living out of state to try to buy them and then put all their eggs in the PM basket in that particular market well that's just playing Russian roulette in my mind... you may do well but you also may loose it all and that I know is a fact.

@Account Closed 

 ARE YOU GOING TO LET ME IN ON WHO THIS MYSTERY tk COMPANY IS

smart move hiring our own inspector.. also check MLS and Re brokers for values..

@Christopher B. 

  Pinch yourself those are excellent numbers .. your to be congradulated

@Account Closed 

 if its owner occupied then of course the seller would have to follow NMLS

@Account Closed 

  In TExas you do not need an NMLS license for non owner occ commercial purpose loans if it fact this is what it is.

Paranoia runs deep.... I for one could care less about your deals and I think others would think the same.. pretty good group here all trying to do their own thing ... don't worry about it be happy you have people like Dawn to bounce ideas off of

List it with an agent if its a hot deal it will sell. put it on craigslist... If it over priced then your probably stuck

@Jedd Braunwarth 

  once an agent has a solid network of nice owner occ buyers the last thing they are going to want to do is work with low balling investors :)  when you can sell to home owners who are happy to be paying market price for a nice home.

I think agents that gravitate to investors move up to doing commercial IE multi and other commercial were their commissions are commemorate with the effort. I can't for the life of me see how any agent would work day in and day out selling 10K to 60k SFR's not worth the brain drain.. I mean your talking 1k to 2k per transaction ... that is 1970's money... but I guess if you live in an area with cheap o properties it is what it is.. but I would frankly find another profession.. RE is to hard to much risk to make such small amounts. Plus all the BS you have to take from Idot buyers and sellers. but that's just me

@Neil Goradia 

OK this flush's out as

22 acres  or 44 lots at 85k each to builder  or 3.750.000

land 500k  development 50k per lot or 1.100.00

all in 1.6  plus 200k for carrying cost soft cost ut oh costs..

1.8 total for 2 mil profit on the lots..

I do that deal ALL DAY LONG