All Forum Posts by: Jay Hinrichs

@Rick Baggenstoss 

  thanks Rick cool... I sent to my Architect.

Portlandia's  motto is  "Keep Portland Weird" so these should fit right in.

We have all these super skinny lots and high density.

@Camronn W. 

  had not heard of shipping containers used for primary housing.. any links one could look at ? appreciate it.

@Will Barnard 

  Consulting is a good gig and a natural progression for very experienced folks in any industry. 

@Andy M. 

  Well as long as you are happy and have a good rep that's all anyone can ask for.

@Rick H. 

  meant 20k is over head maybe 10k net for the guru then he has to pay his fixed over head.. but still great money  for being an Educator :)

@Rick H. 

  was the fulfillment company Utah based... I have been to a few in Utah they are big operations so a lot of fixed overhead behind the scenes of the Guru business..

if I was to take a stab... given all the media they purchase to go into a market for their deals. the money they pay the presenters and the folks that teach the 3 day event. then the big to do for the bus tour or master mentor for the following year with the fulfillment company.  I would say of course the 199... loses money big time.... the 30k I would bet 30k or more is sucked up in overhead.. But still a nice pay day for the guru.. And the fulfillment companies I visited the top guys were knocking down big bucks.. The CFO I  talked to was going to France for a year so his daughter could go to school .... Now that is living the life you Deserve !

@Andy M. 

  you bet ,,, I was just curious what others would think along those lines...

I know for me personally when I did deal with individuals each was a little different too you may take a liking to one and want to give them more than you could probably buy the property for... and there are others that are kind of hostile and you want to get the best deal you can and really have no regard to the seller.

Funny story, I have a good friend.. Retired Car dealer who was very bored and instead of playing golf 6 days a week wanted to get into buying a few homes and flipping them.. This was 08 09  crash.. he was in Bend Oregon that got hammered.. And of course he all cash up... So buying was not a problem... So I said go talk to a few folks and see if you can buy there house before they lose.. it... He did it once... Called me back and he said he just could not do it.. He said he donates in his church to help people save their homes and could not buy them  even if it was courthouse steps.. So he joined me in loaning money to flippers he felt better about that... its a personal thing for sure.

@Andy M. 

  to be fair I did not watch the video  but it sounds like you did major reno for far less than others could do it for.. thereby creating your excellent Delta.

We had this scenario many times in my days of timber... IE you Cruise a stand  which is usually pretty accurate  but not always.. you pay for the standing timber thinking your going to make X and then you hit a huge over run  and the next thing you know you made 100 to 200k more than you projected.. Or it could go the other way you Cruise the stand pay and the harvest comes in Light and you make next to nothing...

Houses on the open market seem a little easier to get a handle on .. But in my work a day world were I fund wholesaler flippers nationwide. Some of my guys can rehab for at least half of what it would cost us here in Oregon. So value is made in labor and efficiencies no doubt. 

Like I said not much talk on BP about helping sellers maximize profit  LOL.. its all about helping investor buyers Maximize their OWN profit.... I guess that's what makes the world go round.

@Andy M. 

  What do you think the value of the house was when you bought it had there been any other suitors for it or had it been listed... Sounds  like the real profit was made on the buy  IE buying far under wholesale value...  Did the little old lady know what she had?

It is interesting in this business where we gauge success by profit and how we don't think twice about a little old lady that might have sold her asset for half of even what a good wholesale price would have been...

When I was buying direct from owners I always wrestled with that... Wonder how other people think about it.. Or is it just Caveat Emptor  for the sellers with no regard to there financial well being... Just curious what others may think.

And congrats on a nice deal that is big one in anyone's book.  

@Larry Turowski 

I like your comment about working in a pack... I think the online stuff is good for some but not all. .I personally would not have the patience to listen to pod cast or webinars. I tried a few pod cast and got 10 minutes into them and got bored... Webinars are even worse for me personally... I think the REI meetings and interaction for a lot of people is important.

For that reason I am a believer that in this industry if your new getting a RE license can be good thing.. you actually learn about real estate and laws. Instead of posting a question on laws on line and getting 5 different opinions from who knows who.. Then you have the pack aspect as you talk about in a GOOD RE brokerage setting. I owned a RE company for 10 years not to make money B/C is certainly did not.. But to interact with agents they all knew I was an investor and guess who they ran to first.. I plucked at least a deal a month or at least every two months by just being in my office and interacting with my agents.

There is no Doubt the Guru seminar is just a manifestation of the MLM presentation many of the same trigger words... IE:   Quit your job,,,  Spend more time with family  ,, make the money you DESERVE etc etc.  I sat through 5 minutes of one of these seminars while I was waiting for an appointment just happened to be in the hotel.. And there was the speaker with a picture of his wife and him Hiking in Montana and talking about how RE will set you free  Blah blah blah.   When in Fact a full time hard working RE investor has anything but free time its a job just like any other.. with the difference is you can set your own success levels.. The harder you work the more successful in most instances.  The only people that get into RE and are truly passive  made their money somewhere else or inherited.. The rest of us that started at the bottom and worked our way up.. Worked our rear ends off to get there at least that was my experience..  But I look at it as a life styly not work so in that perspective Its been great for me.