All Forum Posts by: Jay Hinrichs

@Jon Holdman @Engelo Rumora @Gary Bailey

Engelo, I have had this exact discussion on the Australian sites many times. virtually every AU marketing company is selling without a license plane and simple. one of my bigger wholesalers in MS.. got stung by MS DRE with a cease and desist order. So we started a transactional funding arm of our HML bizz so he would be in compliance while he marketed the properties.

the wholesalers need transactional funding get the property in their name then they can resell..

Its illegal what they do in virtually every state.

And yes the answer is to get a license. But then you have disclosures to the sellers about mark up and profits.

Gurus though and even here on the Hallowed grounds of BP they talk about how to get started in RE and they talk about bird dogging and wholesaling and its really not legal to do..

Otherwise why would there even be a RE license or a RE brokerage business at all if we could all just go about willy nilly selling properties we don't own.

I for one would love to see this practice brought down and regulated. To much profit taking at the expense of sellers is my opinion. Not always but you know what I mean

@Duncan Taylor what your tail number..

Mine is N282CD this one I bought new in Duluth MN and flew it home from the factory that was a proud day indeed for me. . and then I bought a second one N277TT that one I sold in 2009 to a travel agent in Canada. 282 resides at Aurora Or... Aurora partners LLC>

I love to fly and I can say without any question that flying in the US is the best in the World.. Just like owning real estate nothing more free than what we have here.

next time I am in GA you can take me for a spin in your Jet :)

@Duncan Taylor your a retired real estate philanthropist then :)

3500 an hour is CJ 2 or Cj3 type of bird.

I know I spent 400 an hour on my lowly cirrus.

I played golf a few years back at the Madison club. in Palm springs ( LA guys will know this one) and we were guest ( they thought I could afford a 2 million dollar lot) when in fact my partner he could but not me. Any way we played with the junior partner at Schwab and he still had his original jet it was a Saberliner. You could buy those for 1 mil but they suck the gas and were hanger queens that took all sorts of maintenance.

On my trip to Augusta we got to play East Lake as well, I was the guest of Southern distributing. Then we went over to Augusta and we stayed 2 nights in the Butler cabins and played golf for 3 days. there were only maybe 5 to 10 groups out each day ( this was late Oct. weather was perfect) It was cool though we ate at the club each night and the CEO of Toyota was there and his guest was Keith Jackson the sportscaster. When we went through the mens locker room the names on the lockers where the who's who of corporate america. the only Athletes that are members are Palmer and Nicklaus. and these kings of industry have to share lockers.. But Owe the wine cellar. first growth French and the best Napa.. Screaming Eagle and all the rest.

@Account Closed I have heard a lot of things but never have I heard of a HML not getting paid... when I was rocking 2002 to 2008 my average turn time was 93 days on my loans. Nothing new about 6 to 12 month loans we have been making them from when I first got into RE back in the mid 70's and my dad was doing them in the 50 's and 60's

@Account Closed Norris has a ( and I think this is right ) 7 year program at 8% with 20 or 30% actual cash down Not LTV but CTLV.... I do this type of lending in the mid west and south east but I require 50% CTLV.. ( not trying to sell my services FYI)

@Duncan Taylor

@Duncan Taylor

@Duncan Taylor

Duncan... I just got to ask.. .. As a private pilot and aircraft owner ( cirrus sr 22) I know a little about aircraft. and what I know is a G 4 ( Gulfstream to those who don't know) is a 10K an hour plus bird. Flight from SEA to ATL is 2500 miles and about 4 hours going east bound so 40k one way for that baby.

why in gods green earth would someone who could afford to own or fly a 20 to 40 million dollar aircraft spend 20 seconds on BP with all the newbie wannabes and others..( I do not mean that condescending of the folks here trying to learn and improve their lives) but I have travelled in the circles that one would be in to own or be able to fly in that kind of aircraft and those folks would in no way be spending as I said any time on this site.. I have stayed and played golf at Augusta, ( Ron Daniel COO of McKinsey was my host and is my business partners step dad) and his buddies travel in G 4 's.. Having lived in the Napa valley for all the years I did I had a bunch of other Jet set friends.

So I can name drop with the best of them... and what I can't still understand is what would someone like you be doing here.

I know why I am here I got hammered in 08 to 2010 in the down turn. I was never a huge player but I did pretty well better than most and I am coming back and I like to impart my experiences. which are REAL and in the trenches.

Anyway just very curious as I said what someone of your financial clout would be doing here in BP

@Account Closed is that Bruce Norris product.. I know he has a mid term private money offering?

its just a prelim title report. and a report from the title underwriter saying they will give you a title policy subject to the exceptions on the binder

@Duncan Taylor @Account Closed

Duncan I see you were in Washington before GA.. where were you at.. I am in PDX and have done a few deals in WA. why did you leave our beautiful rain forest?... any high line projects I would know about?

@Bryan L. and what about loans to our children ??