All Forum Posts by: Jay Hinrichs

I would cal la metal scrapper and have them take it.. its not like anyone is going to come back on you.....

@Barry Ratliff 

  Always wondered how you guys did it in TEXAS.. It takes us 30 days just to get the dig out and foundation in.. best case scenario is 120 to 150 days start to finish and that's after foundation has been stripped and ready to go vertical.

There was a day we could build a pretty nice home for 70 bucks a foot not including lot. but that is long gone... we are at 75 to 85 now... with custom at 120 to 150... our big issue is permits.. we can have 35 to 45k just for city permits. And CA can be double.

Wow times 2

If one could notarize their own signature there would be no need for a Notary at all we would all just sign docs and swear we signed them.. wow

@Account Closed 

High TAXs  compared to CA... you must not be talking about RE tax's but income tax's... Texas RE tax[s are some of the highest in the country and many investor RUE the day they bought texas because  the property tax's eat up all their cash flow or what they thought was cash. flow...  But Texas is on a high right now.. its soup de jour  like Atlanta was 3 years ago.. Vegas and Pheniox before it... takes one good oil bust and down it goes like other cyclical RE markets... Between the foundation issues... HIGH property tax's etc etc I think there are many better places to invest than TExas.. I would though say that doing ground up new construction is pretty hot sector to be in in Texas especially Austin.. But cash flow rentals  NO WAY compared to most of CA.. Most of CA you will protect your investment and make far more in the long run on appreciation.   My personal 2 cents.

Not familiar with Alabama whoever what you described sounds reasonable. depending on the properties I would think it would be highly risky to just let them sit for a year or two while you quiet title.. Renting them or leasing them is probably a must to protect your asset. That would be my take on it.

Brian,,, been in one as bad in Sunnyvale. CA. and that lady was a nurse !!! .. And one in Portland almost as bad and one out in the outskirts of pdx bad but not that bad.... I wonder if they worry about mold? The one in PDX I never touched because it had a second lot.. I listed it on MLS put in the private remarks.. ( Warning Hazmat suite and Masked Required) I had agents calling me thinking I was joking and I told them no joke.... From door is wide open go on in.. Eventually sold it to rehabber who took it to studs split off a lot and built another home and came out smelling like Rose !!

@James Park 

  how come your post is in light font ?  is that like ordering off the secret menu at In and Out  burger.  everyone else is dark...   would you run the numbers on Cupertino that would be exciting... My parents bought there home there for 27k in 1972... probably worth 1.2 to 1.4 now.  And I bought in Palo Alto in 1983 for 185k  but PA was more of a melting pot.. the grade school my kids went to there were kids from over 20 countries. Most because imports to HI Tech or Stanford U.  Going to have to check out your area in GA.. Because for certain that will be the highest appreciating area in the state without any question based on my experience.. the other areas of CA that saw dramatic value changes like SF were along the lifestyle lines.. were certain areas were bought up and totally transformed.. there is an area like that in Indy right now

@James Park 

 Could not agree with you more.. I grew up in Cupertino CA in the 60's and 70's probably before a lot of you were born LOL.. It was 98% white.. We had the best public schools in CA along with Palo Alto Monta Vista Saratoga etc.. Well we experienced the Asian migration starting in the mid 70's What you get is a highly educated and motivated demographic that has money and loves to pay cash for houses and your neighborhoods will appreciate well above the norm. The last 49er game I was at the Cupertino HIgh school band played and it was 90% Asian compared to 30 years early and it would have been 98% white..

@Robert Adams 

And I strongly concur with Roberts statement about on line valuations.. as a hard money lender in my day... we would use these to get a ball park but they were often so out of wack either way low and not fair to borrower or way high and very risky to lender.