All Forum Posts by: Jay Hinrichs

@Michael Quarles 

  Ok Mike your making fun of me......

@Thad Miller 

  how much  , I love flying into that airport one of the best anywhere. any moritoriums?

@Michael Quarles 

  Ok I got to ask what is a Yellow letter.. ??? I basically know what it intends to do but what exactly is this imfamous Yellow letter

@Marcia Maynard 

  people in the northwest are so nice.. I doubt any grizzled land lord out in the mid west would even consider what you do... good on you.. And this is my 1000 th post so glad its response to a neighbor

With my rentals I buy them a turkey at THK  35 dollar gift card to grocery store.

Christmas changes every year... one year I did mini I pods for example

@Rick H. 

  And this is a very good point for those that are facing foreclosure.. Always go to the sale and watch the bidding like a hawk if you suspect anything then get an attorney.. And or file BK right after the sale and list that as an asset and let your BK attorney and or trustee know what happened the BK judge will stop everything while it gets sorted out.. I have seen that done personally.

Especially those with no junior loans or encumbrances the owner losing it is awarded the overage and in many foreclusres I have attended these overages would have equated to more than the losing party could have got if they sold the home prior to sale.

@Aly W. 

  Aly its nice to get an honest post about low end rentals and all that it entails.  There is far to much blue sky talked about with these types of properties.. Its a 50/50 proposition at best. And in my mind those properties are only suitable for those that live and work in the community and these assets are a commodity not an investment.. because they are not an investment per se as they never go up in value they go down usually and they are money pits when your in the super cheap ghetto war zones.. good job recognizing this and understanding that properties with hopes of appreciation because of area are to be considered in the full equation of investing in Cash flow rentals were ever that maybe.

@Account Closed 

  I got out of the game when I was competing with stay at home moms wheeling in their kids in strollers and hunting around in their pursues for 500k of cashiers checks   LOL.

My last sale I attended there were 30 bidders for a little rancher opening bid was unusually low 80k property worth 200k ARV it bid up to 160ish and that's before rehab so that was probably a 10k deal for whoever bought it. So basically 3 million in cash chasing one 10k profit deal... That's when I took my nickels and started my HML company.. Did not hit the home runs but we had consistency of deal flow and I much less work than chasing foreclosures.

@Stacey Olson 

  wow property trashed in 10 years.. this is also a good testament that one need not fly half way across the country to buy low end deals. they are in each state.  A rehabber that does volume will come in and pick that up with a goal of a 20 to 30k profit... so a sale number based on rehab would be closer to 60k not 40k I think that's your competition.

Good job keep at it....

@Account Closed 

wow in the bay area !! I remember my days in Oakland my office was next to Al Florida and Shep.. those guys would just flat intimidate you .. Brief case full of cash a load 45 and drove their Rolls... I remember in the front of their office they had a big table and kids cutting and pasting out of the paper the NOD's they bought most of the Oakland foreclosures for years :)

Its a dollar over in Oregon and Washington can't buy anything with a penny :)

@Tara Piantanida-Kelly 

  no Warzones or Ghettos in Wyoming or Oregon  good choices for out of state investing. at least for piece of mind :)