All Forum Posts by: Jay Hinrichs

@Brandon Sturgill 

http://www.biggerpockets.com/forums/44/topics/151875-new-subdivision-development---jay-hinrichs

I just broke ground on a 27 lot subdivision I am doing in Portland... I posted picks and deal points.. Each state is vastly different when it comes to development criteria and specs along with environmental... It is not possible in this day and age in our state to record a plat without all services being done.. Or bonded for.  Land development is a big money game by and large.. When you look at the pic's  If you look at the pic's  being in the northwest storm drainage is a big factor you will see 48 inch pipe.. that is our storm retention system. We store the storm under the streets.. We can also as Bill mentioned create ponds for storage but each site does need to store all storm and rain drains before going into the public system.

@David Krulac 

  spot on about the bridge my bank forclosed on a developer over in Central Oregon and the final phase was subject to building a bridge.. So the lots were pre platted but not buildable  BAnk ended up having to spend 200k building said bridge.. but they had more value in the lots once they were done...

@Vince Mayer 

  to be fair I asked that question of a Realtor in Kokomo IND  on a grey freezing butt February day.. pretty bleak looking that time of year in that part of the country.

And my Giants beat those Nationals  so lets see what happens with the Cardinal series...

@Karen Margrave 

Thanks Karen appreciate the help

@David Krulac 

  www.propertyinvesting.com is one of their forums or their version of BP  give it a look you can get the feel for how RE crazy these folks are.. And how much safer it is to be a landlord in AU compared to the US>..

@Annette Hibbler 

  its the run down war zones that give Detroit a bad rap and those that sell them to investors especially over seas investors.. And of course we know the eventual outcome ..

As it relates to 95% of BP investors they are looking for that sweet little SFR that they can buy and hold and rent out and have stable cash flow good tenants etc.. And I am sure if they bought in the new construction type projects your talking about that would be fine but they can't hit the 2% rule so they try to back end into these deals hitting those metrics and those metrics take one into the lower quality to war zone type properties.

@Chris K. 

 if would be one thing if it was their life savings many times they teach them how to up their Credit card limits .. so the attendees actually borrow 20k at CC rates and knowing that they will pay the CC of with their first flip.. And of course we all know the mortality rate in RE investing.. 80 to 90% of the folks here on BP will never make any money in RE investing but they go the info for free.. And same with any of the Guru companies that are in the education business.  Some will do good no doubt .. and most will fail and lose what ever they invested.  Same as I said with those on BP  most will get excited .. many will buy yellow letters or bandit signs or other manner of marketing and that will all be for naught as they won't get any calls or if they do they don't know how to handle them .. But there will be a small percent that do well and get fortunate and make deals right off the bat that catapults them to a successful career.

@Scott K. 

  you can emulate those experience's in CA no problem. Remember CA is not just LA or SF it is by far the most diverse state in the Union.. Beaches that are incredible  think Big Sir Nor cal so cal.. mountains ski areas.. lakes all over the place.. Sports.. Giants A;s Angels dodgers, Chargers, 49ers, warriors Lakers and clippers... deserts High deserts. rain forests redwood groves.. Yosemite Tahoe  skiing.. it just does not end.. there is no place on earth like CA in my opinion.  I have done a lot of investing out in the mid west and spent a lot of time there.. I would often ask the locals WEll what do you do for fun around here since there are no real national forest's or much of anything else  they had to think a while.

@Dmitriy Fomichenko 

  its a sub two deal.. he is still on the hook you buy his interest out and take over the payments.. not ideal but that's how it could work

@Matt Galas 

 No need to get wife to sign you have husband and wife privlages ....

In all states you just need to disclose your a broker nothing more and good on you getting licensed so you can be a true RE professional

@Raj Gandhi 

  In Australia its called Negative Gearing.. and maybe India too... that is common place in Austrialia  every property investment is negative geared but the appreciation makes us for the negative many times over just like the SF bay area has done for thousands of investors.

So when the Aussies figured out they could actually buy property and make positive Gearing they flooded to the states and bought billions of dollars worth of US rentals. Some did very well. .Others got sucked into who ever told the best tale of returns I E  Detroit bad parts of Rochester Buffalo,, worse parts of Memphis etc.