All Forum Posts by: Jay Hinrichs

 Honestly, I cant say I am surprised. Big old money here for sure. Run into some very wealthy folks at the dog park, which is always interesting. Sorry to hear about your friend, I have recently lost a deal because of similar circumstance, investor had a death in the family. Those types of things can throw curve balls but in my opinion, at the end of the day it wouldnt be worth much without friends and family and I understand his loss. 

 That is very cool  your mom is from milwaukee, you are Wisconsinite in my book.  If you got to see Milwaukee in its glory days, that is awesome. The upper east side is still beautiful right on the lake, but many of the other districts have tapered off when the big jobs left.  Lake Geneva and Walworth county is beautiful, they keep it pretty clean with  strict conservation and zoning... DNR pays close attention here as well. They just passed another conservation ordinance for rural, and if you want to even add an addition to your property within LG city limits you've got to cough up 10k for the general permit alone. So, to the chagrin of some developers it can get a little expensive at times but on the flip side of that coin it provides kind of a firewall so that what ever is being built is being built with a strong intention. I think in that manner, you get some pretty cool people moving in and less "black rock, mega corp" style development projects. The guy from Reno911 just moved here a few months ago. Thomas Lennon who played Jim Dangles. 

 lol..........I should have known that this nerd would be involved with this B/S.

 Haha I love that, I was born into the computer world but the way you describe finding real estate deals back then reminds me of a scene out of lord of the rings. Gandalf in the bowels of Minis Tirinth combing through ancient scrolls to find  information on the one ring.. or.. the one deal to rule them all! Probably a nerdy reference but I am from the town that invented Dungeons & Dragons, Lake Geneva Wisconsin. You should come out to Lake Geneva sometime.  Lots to offer here for heavy hitters, and intermediates like myself. We are a town of seven thousand but the city pulls in almost 100m a year from tourism alone. Opera has, or use to have a house around here. Plenty of good real estate from mansions, multi-million luxury homes, big second home market for vacationers  to undeveloped lots and everything in between. Although when youre looking up, everything looks amazing and big, so maybe a more experienced eye would say differently.

 So wholesaling but we changed the name?

 What in the holy hell is a novation?

 🤣🤣 I love it, those days feel like another lifetime really. Yes, you are right about the child labor laws imagine these days if people saw a 9 year old swinging a box cutter and carrying bundles of magazines almost as heavy as he was! I didn't get the benefit of hanging around guys who knew anything, the press guys were all blue collar stiffs that were going paycheck to paycheck and my father was making sales calls while I was in school so it was pretty rare I got to see those. One thing I did learn was how to talk to all different kinds of people from bums on the street to corporate presidents and everyone in between, which I think helped me later down the road as someone who was always kind of considered as relatable. Like you said RE is a people business and if you are uncomfortable with people you probably aren't going far.

 Jay I still have one of those books hanging around. The low interest rate in the book starts at 8% and goes up to 24%. Just to show how old the book is! 

My father used to run one of those Real Estate guides. My mother did the typesetting and he did most of the sales calls to the broker offices. We'd get them printed monthly and once a month would go to Newark to pick up truckloads of bundles of new books, which I then delivered to grocery stores, pharmacies, etc as my father pulled up in front of the stores. At 9 years old I could carry in 2 bundles, slice them open with a box cutter, pack the display stand, and collect the old previous month books in about 1-2 minutes maximum. We'd spend about 2 weeks delivering all the bundles and I was the "free" labor until I finally negotiated 10 cents a bundle from my old man. 

Honored to see your reply Sir. I've enjoyed your interviews. I also wondered, during those 20%+ interest-rate mortgage days, did some segments of the market go 'no-bid' - in other words, did cash buyers have a very advantageous circumstance? 

All investors look forward to this concept I suppose, but curious if we'll see days ahead where 'nobody' (with regard to the general public) will want to buy real estate 'at any price' - as it seems to happen in other types of asset markets from time to time.  

 How do you feel about 'disruptive' technologies, how were you able to take your skill from finding information and deals this way, to how they are done in todays world?