All Forum Posts by: Jay Hinrichs

 If these gurus took a truth serum, I would wager that less than 2% of the people who pay for these programs recover the costs they spent on these programs. You have a far better odds at betting on red or black at the roulette table. 

@Jay Hinrichs I actually made a lot of money from ABC Capital. I foreclosed on a lot of their deals that went bad.

UPDATE: After I commented above that Mr. Raymond's investment activity “seems to be a Ponzi-type situation” based on his own statements and the growing number of affected investors, I received the following legal threat.

Below is my formal response.

Transparency matters — especially when investors are allegedly owed tens of thousands of dollars and being silenced with NDAs.

Email Screenshot from Steeeve

Dear Mr. Raymond,

I am writing in response to your June 17, 2025 email, in which you allege that a comment I made on the BiggerPockets forum is defamatory and demand its retraction under threat of legal action.

To clarify, my comment — that your business “seems to be a Ponzi type situation” — was a statement of opinion, protected under both U.S. and Canadian law, and based on publicly available information, personal experience, and, importantly, your own documented statements. As has been documented by multiple investors, you have made statements — via Zoom calls and in emails — indicating that you use incoming investor funds to make payments to earlier investors. That pattern of activity aligns squarely with the definition of a Ponzi scheme.

If you disagree with the characterization, you are free to provide clarification or supporting information. However, threatening legal action in response to constitutionally protected opinion based on disclosed facts only adds to the growing concern among the investor community about your conduct.

I am also aware that you have attempted to require certain investors to sign non-disclosure agreements (NDAs) in exchange for partial repayments or other settlement terms. Such attempts to silence individuals with legitimate financial grievances further erode public trust and raise serious ethical and legal questions.

Furthermore, your threat of a lawsuit appears to fall under the category of a Strategic Lawsuit Against Public Participation (SLAPP) — a tactic designed to intimidate individuals into silence rather than address the underlying facts. Anti-SLAPP statutes exist in many U.S. jurisdictions, including Illinois, and allow for the immediate dismissal of such suits along with the recovery of attorneys’ fees and costs by the defendant. Should you or your counsel choose to proceed in this direction, I am fully prepared to assert those rights and respond accordingly.

Finally, since your attorney was copied on your original message, I suggest that legal counsel focus their attention where it is most urgently required: on the dozens of investors who report being owed significant sums, many of whom are months past due and organizing for collective legal action.

I decline to retract my statement and reserve all legal rights available to me.

Sincerely,
Daniel Desrosiers

Some of the lies some of these “mentors” tell are so outrageous that you just can’t believe anyone believes  them - but people do. One particular mentor claims he never lost money on a deal - however he filed BK numerous times.  When called out on it he claimed it was a “technicality”.  

 Today’s gurus aren’t real estate investors, they’re salespersons/pitch people with “marketing” plans and strategies produced by real estate mentoring companies operating out of Las Vegas, Nevada or Provo, Utah.  

Even if the strategy they teach WERE valid, it still can not be implemented by the vast majority of their “students” because the students lack the knowledge and understanding and experience in real estate FUNDAMENTALS needed to be able to successfully implement ANY real estate investment strategy.  The people who buy into these mentorship’s are trying to “shortcut” the necessary time and effort it takes to acquire enough knowledge and experience to have the foundation for success.   Add on the fact that 90%or more of the strategies taught are either or not valid, can’t be scaled, and are limited to specific markets during g specific economic conditions. 

 1. Wholesalers can file memorandum of contract. One more incentive to do everything right, so they can enforce their contract. Do it right , file memo and seller or buyer can't transfer a title without wholesaler releasing it. 

2. The legal agreement, PSA, should have an inspection period during which the buyer/wholesaler can walk out without breach of contract. If you let seller know, in writing, that you can walk away during inspection period and then walk away, there is no breach of contract and no crime committed.

I can buy pretty much any property under a certain price point (it's above median retail price in my state). But I will not close on it and buy it, unless it's a great deal and I personally want to own the property. It's foolish to incur double close expenses if I have no intention to keep it, so why add those fees and make it more expensive to end buyer? Just for the sake of bragging that I OWNED it? Who benefits from this foolishness?

It's wrong to lie and hide the fact that you may or intend to assign your contract to third party. But if you put it in Times New Roman 12 and seller signed under it, then who is to say you have engaged in fraud or misrepresentation?

 The ones that go door to door looking for leads are the worst , and some of the stupidest people I have met .  How so ?  I have a utility body truck sitting in my driveway with my construction company name , with a ladder on the rack .  I am in the driveway with the aluminum brake , bending some trim for my house , and a young guy with his company shirt tries to sell me home improvements .   

I looked at him with a puzzled look on my face and asked him " Are you for real ? He asked why ?    Well maybe because what that truck says on the side , and I am here bending aluminum trim , so just maybe I am a contractor .    But no he didnt get the hint , he started back on his speech .   Finally told him to get his dumb a$$ off my drive and hit the road . 

I get what you’re saying. It’s a free country—or at least it’s supposed to be—so everyone’s entitled to their own opinion. Please feel free to disagree. As for these laws being passed, I’m sure they have a lot more to do with big money interests than with actual consumer protection. The whole “care for the seller” angle seems like a smokescreen to me.

We already have laws that prevent fraud and misrepresentation. Instead of passing new, draconian laws, why not just enforce the ones already on the books? We could focus on going after the real crooks who are breaking the law, rather than outlawing the entire practice of wholesaling, which is what some states are trying to do.

You’re not wrong—there are dishonest people in the business. Wholesalers, sure, but also sellers who sign contracts and then try to cut wholesalers out by going directly to buyers. And don’t even get me started on the buyers (some are licensed brokers) who use Investorlift and other platform to find properties listed and go around wholesalers. It’s a mess across the board, not just with wholesalers.

On my end, I’ve made sure to protect myself with solid contracts and full transparency. I’m not giving anyone a chance to breach my contract and steal my fees. I include a clause stating that I am not a realtor or broker, but the principal in the transaction. I also include a clause reserving the right to reassign my contract. Additionally, I add a clause IN ALL CAPS that clearly states nothing outside of the written contract holds any weight and that the written and signed contract supersedes any other understanding of the parties about the transaction.

I make sure to email and text the seller, saying, "Here is the contract—please review it carefully before signing." Then, I go over it with them by phone or Zoom, sharing my screen and explaining the clauses. Afterward, I send the contract to the title company and pay the earnest money deposit (EMD).

I've learned my lessons and no longer give anyone a chance to breach my contract, undercut me, or steal my fees.

At the end of the day, if we act in good faith we need to hold crooks accountable, not punish an entire industry for the actions of a few bad actors.

I’m aware of what's been happening — it’s not just happening in Oregon, but in several other states too including PA. It feels like we’re seeing more and more elements of socialism creeping into the U.S. lately, wedded with the monopoly which is being dominated by established players who seem to thrive on controlling the system. If I were in their shoes, I can’t say I wouldn’t want to keep my position of power and cut everyone else out, either.

The way our system works now, it appears as though you can guard your way at the top by buying your executives in government. Pay for political campaigns, hire lobbyists (often former lawmakers with direct ties to current officials), and suddenly, you’re in a position to shape policy that serves your interests. It's a mechanism that makes it easy to restrict opportunities for the little guy, while benefiting those at the top.

I’m not particularly interested in becoming a real estate agent or broker, but if wholesaling were outlawed across the country, I know I could easily get my license with the help of some contacts in the industry who’d be willing to sponsor me. It’s a relatively simple process, and I could step into that arena if necessary.

But what bothers me is how much more rigid and controlled we’re becoming. It feels as though we’re shifting further away from the ideals the Founders had in mind and veering closer to a system that resembles the controlled, centralized nature of communism. Instead of the individual freedoms and opportunities they envisioned, it seems like we're headed in the opposite direction, where power is increasingly concentrated in the hands of a few.

I don’t have all the answers, but it’s hard not to see the changes happening around us and wonder: Is this the direction we really want to go?

As a full time wholesaler, money for me is not an issue. I work with a lender who pulls my score every six month and keeps my HML qualification and pre-approval limits handy. It takes into account reserves I have to cover the closing costs, fees and interest for the next 6 months. I would say getting money and OWNING something is the easiest path in this business. I am not a proverbial "doesn't have a penny to print his contract on a paper" wholesaler. Owning, buying, getting equitable interest in something is not a big deal to me. What I care about is liability, risk versus reward. I still like wholesaling because it provides the least amount of risk and cost to me. I am all about ME, not someone else. As a sensible for profit business I have to above all think about my priorities, just as other business owners must think of theirs.

Is it tough to find deals in or around big cities saturated with thousands of wholesalers and big players with big budget? You bet. But it's still doable. And still less risk than any other endeavor in RE. But if market keeps cooling off, then it will be a good time to buy and hold, and that's when I may decide not to wholesale or even flip, but buy and hold until numbers go up again. 

The only person worse than a cold caller is a door to door salesman. Door to door salesman deserve ever lasting suffering in hell.