All Forum Posts by: Jay Hinrichs

@Mark Beekman 

  Irs came up with that number we paid it they released house had major equity so it was fine on our end.

@Karen Margrave 

  we are doing Quartz on counters and high end marble on island.. custom cabinets from local cabinet maker... country sink is popular our way... appliances I prefer wolf ( I like the red handles)  Sub zero. WE do high end engineered wood floors and they are well received also do some bamboo and Cork... Really neat fireplace ... undermount and quartz in bathrooms... big accent wall in master bath and high end nickel fixtures... this in our market for under 750k

In our mid range homes 300 to 400k we still do granite undermount oil rub bronze stainless etc that's still popular with that price range

@Marc Henderson 

what you describe above is what a good HML will do for you.. and it depends on what parts of the country your in... On the west coast we don't use attorneys. ... A good HML will have this all nailed down and be lending to folks they have lended to many times.

What your describing is what one would do if they are lending to someone they have never lent to before etc. 

Just curious how much capital are you thinking of deploying when you decamp for Thailand?  I have a few investors that live in Thailand and love it.

@Jason Gorenchan 

  Not all states classify 1 to 4 as a loan class that needs an NMLS license.. My state of Oregon does.. Washington does not as long as its non owner occ and for commercial purposes IE a rental or rehab or whatever.. Each state is unique of course how they decided to implement Dodd Frank. and the Safe act.

I agree with Ann  Unless you are very well cashed up and really know what your doing NEVER take a second position... And never refi another Hard money lender out that is a great tip.. If they did not pay off the first one chances are your loaning in to a trouble loan.

Lexus Nexus  by Accurant is what professional use

No what is it?  I am an old dude not up to speed on all these new platforms  would be interested to know what it does

@Marc Henderson 

  This is what I do half my investors are off shore..

@Robert Taylor 

  in my days at the courthouse steps I liked IRS liens  all the guys that needed to use hardmoney would not bid I got some of my best deals that way.  as others have stated lien sunsets in 120 days.. I did have the IRS step in one time but that was because the property had LOTS of equity and the person who lost it informed the IRS.. I think if the person who lost it never said anything IRS would never have come into the picture.. As it was they did not really want to redeem they just got us to cough up another 40k.

@Joshua Dorkin 

  I only get e mail notifications of

1. Votes

2. collegue requests.

I cannot monitor a topic... I don't get e mail notification of a PM.. or any other e mails notifications that come from BP... just the two as mentioned above and non go to my spam can

YOu create an LLC with investor and work out the details in the operating agreement its whatever you come up with.. you want to make sure you have a buy sell agreement and a method to dispose of assets in the event you can't agree on how to run the LLC