All Forum Posts by: Jay Hinrichs

@Account Closed   I think we will start calling you the NOTE WHISPERER  your the only one on the forums who can pick up the phone and talk to all these banks in all these different markets and get a heads up on notes coming on the market... Pretty neat trick really.

@Karen Margrave   I would assume in your price point custom.

We go with whats appropriate for the price point with our base cabinets in starter to mid level once we get up into high end  then its another level of cabinetry.. I like using my local cabinet shop where i know the  owner he appreciates the business and we get great service since we buy 10 to 15 sets a year in the one market..

I know in MS I see the guys here build the cabinets on site... even in higher end and use very cheap hardware.. we use soft pulls on upgraded hardware always... I figure since I am saving money on holding costs ( use bank instead of private or hard money) most of my competiiton is using private or HML the savings I make I can up grade a few grand and have a nicer finish package and get my houses sold all things being equal... Hope that helps

@Martin Yung   careful thinking 2 to 3%  very difficult or impossible to sit in a foreign country and make those kinds of returns.. Locals who live there and are on top of the properties every day can and do do this.. But off shore investors rarely if ever.. And many off shore investors get with the wrong provider it can be a losing endeavor as well..

If you would like send me an e mail to [email protected] I wrote an e book specific for foreign investors.. I think you could get some good tips from it.  

Also I have a Singapore partner who is actually with me this week in the US looking at all of our markets... I will forward your e mail to him if you like and you can probably actually sit down with him in Singapore and get some really first hand knowledge of how to invest safely in the US.

contact them and make your offers

As an aside if I was on BP and I was a newbie in the note business I would most certainly take Dion up on his DD product for NPN.

for a few reasons

1. affordable

2. you have someone who really knows the industry looking at your potential deal

3. you will get an education as you work with Dion or his company on DD  so you learn for future events.

Even if your only mildly interested in the subject I would bet one would get more out of a DD package from someone who is in the moment real time than a canned course.

Or trying to decipher all the varying opinions one gets on BP  be them pro or con.  Just because one has done a Podcast on BP  the audience must always take that information with a grain of salt... After all these are all just people in the industry with their personal experience's and opinions  ... there is usually way more information or knowledge one needs to pull these deals off than can be transmitted in a 60 minute interview.. Although it does get people thinking and that is good.

NPN is like graduate school no one is going to learn this by reading on BP one really needs to experience it and just do it... So many variables and depth of information that is involved in these transactions

HML or private lender

@Account Closed   In my opinion 20k is cutting it very close on capital needed to get into the rental game... buying out of state or country  in this   price range you can afford could cause you to lose this capital.. You may want to consider other avenues for this capital.. 

if you would like my E book that I wrote on the doe's and don'ts of out of area investing just e mail me at [email protected]  it was written for Aussie investors who were getting taken to the cleaners by US turn key outfits and there is some good stuff for CDN investors as well. 

At the end of the day I know there are HML in CDN I did a few and they could broker some funds for you on local deals so you got a little extra cash flow and did not risk losing your money... Low end 20k properties if that is what I am understanding you want to invest in is very very risky in the US... It just is for out of state or country investors. For locals that can stay right on top of them and scale it ,,, there probably is not a finer cash flow investment around given anyone can do it.

Always be a need for realtors... commission will get negotiated as they have been for years.  however buyer's and sellers need that buffer to put deals together.. buyers that are not educated in the process need representation so they don't get totally hosed as we know many sellers  don't exactly tell the truth about their properties.  

Its the reason that any good agent will always tell the SEller to leave the home when a prospective buyer is coming through... you don't want the seller blabbing something out that drives the buyer away... Or ego's get involved when buyer low balls  etc etc.

The above is for Joe and Jane homeowner selling to Jim and Mary home buyer.

Can you by pass RE brokers in the wholesaling of properties that are vacant.. I think that is very evident as there are thread after thread about wholesaling on BP and whether you can do it without a license etc  this activity already exists.

Then you take the busy professional they don't have the time or the hard working Truck driver how is he going to sell his home when he is on the road or the airline pilot who is on a 6 day trip half way around the world how is he going to sell his home.

@Brian Burke   LOL  we made money in Lake county in the 60's and 70's lots of picks broken in Lake county over the years...One project I worked on just had a major slide.. ( lakeside heights) thankfully I was just the broker 25 years ago :)... But fond memories my kids were born there !!

From my point of view there is a huge demand to provide funds on the performing side.

There are plenty of states that one can lend in where HML are exempt from Dodd frank for commercial purposes.. and there are states were that activity is not exempt. As HML in Oregon our target was 20% apr and all were performing.. And that business is out there in certain markets to be had and even greater returns for performing.. Of all the notes and loans I have done over the years I have never got into a deal that was none performing at least at inception I have had my share of bad loans especially in 08 09 .. I understand the whole NPN craze and I can see that in firsts but for newbies or those that can't scale to buy NPN seconds I don't see that at all.. And I think most newbies would be well served to find a good HML who can get them 10 to 14% on local loans and call it a day.. Once you have some experience then one could venture out on their own.