All Forum Posts by: Jay Hinrichs

@Account Closed 

  buy and hold properties depending on your market and return will dictate how much you can reasonably pay for capital... If your return is average say 10 to 12%  then you can't really offer that amount there would be nothing left for yourself..

private investors for long term buy and hold are best brought in on the equity side

I am not getting my either and they are not in the spam folder .. I get everything but I can't monitor a topic  when I hit the monitor but that works but I never get e mail alerts. so that's a major problem and it really cuts down on the amount of interaction I can have with BP right now.. ( not that anyone really probably cares but it would be nice to get back to full utilization)

I do JV's in Portland contact me if you would like to discuss I provide the capital

Thank you all so far for your interest remember send me an e mail to [email protected] for a copy of my e book

did not catch the honeymoon part of the post..  I echo the above RE will be here when you get back.. enjoy

@Account Closed 

  Bob good catch I remember that from my days in the Bay Area.. folks would sell in San Jose and relocate to Nevada county and transfer their tax base.. So see CA can get it right sometimes !!!

my book "on the do's and don'ts of out of state investing an insiders view "

Enjoy your trip we were there in Nov  interesting place if you have not been

I wrote an e book a few years back for Australians on how to navigate the world of buying form Turn Key companies or just buying in the US in general. I have been giving them out for free to who ever asks from the BP community.

Below is a thank you I got back from one of the BP members that I sent it to.. Its nice to get a thank you and to know that the BP community appreciates sharing .

"Hi Jay, I want to thank you for sending my wife and I your E- Book. Jay, I have read almost every book on real estate and I have never found at least half of the info in other books and I'm not just saying that, that is the truth, I have to admit that you really opened my eyes especially when it comes to buying at the Auctions"

@Daniel Harnsberger 

  Screen any potential lending partner just like a tenant at first.. this will weed out many believe me.. Run full criminal background and full credit.  You would be surprised at what you may find out.

in lending on the private side you want to follow bank protocol as well,,, the three C's  Character, Collateral and Capacity... 

The Caveat being this is I assume going to be a long term multi deal arrangement.

HML by and large don't do background.. Although when I was HML I had a Accurant product that looked for obvious issues.. you popped in the SS and you got a report back it was like a speedometer in the green you were good yellow you needed to check individual out better and Red was major red flags.

I do all my deals as JV's these days I don't lend anymore so this is my normal procedure to set up a JV partner that I will be creating long term facilities for.

And honestly sometimes I just go with my gut.. But I have been doing this 35 years .. someone starting out if you do the above you should be in good shape. 

@Michaela G. 

  Joe Kaiser is well known here in the NW.. he really went toe to toe with the Washington State AG's office over the overage scheme

There is a company in CA  that does this nationwide although I can't recall their name.. From what I have seen and heard the STates TAx collectors really frown on those going for overages and can be stumbling blocks.. Some its no issue.  Although most if not all will only send the check to the owner of the overage these days then they pay the companies.

But counties do not make much of an effort to send these funds back as over a certain course of time the funds Escheat to the state... In Oregon the collector of lost monies like these is some obscure department like the transportation department.. I can';t exactly recall but I had a PI who was working on  a judgment for me call me one day and told me I had money at the state.. I made my claim and got my money.. If was escrow funds from a home I sold it was a pretty nice check almost 10k so it was a great find but I remember thinking who would have known this is the department to check for forgotten money