All Forum Posts by: Jay Hinrichs

follow up to last post.. Minimum income requiremetns for ME not he borrower. I only do deals I can make 5k on period. If someone is trying to buy a home and make a 3 to 5k wholesale flip fee then they need friends and family to capitalize those ventures. NO way I am going to loan 20k at 3 points Make a whopping 600.00 dollars and take the risk that I have to eat the 20k or end up god forbid having to foreclose

One of the issues in certain states with sub 50k loans is usury rates.

The other and I am a HML is as stated there is just as much work in a larger loan as well as smaller.

And the other issue is the collateral sub 50k homes or loans at 20k are usually In areas that only locals work and the values are suspect on the ARV side.. As the areas are just full of low end rentals. If that all makes sense.

that all said I carved a NIche for myself in the low end market. loans at 30 to 60k.. But I have minimum income requirements. I make 5k per loan in loans fee's period.. other wise its not worth the time effort or RISK. The vendors I deal with are very experienced and move usually 3 to 10 properties a month in their market. They already have resale channels establish.. PM well under control and they control rehab.

JLH

Not in those counties I have bought in North bay counties.. but I grew up there in Cupertino.. I would suspect the competition is intense.. LOTS of money in the Valley as you probably know.

Well since I have been spreading the gospel in AU for a few years thought I would see what's going on in my own back yard.

I really want to expand my JV financing with some young and up and comers like yourself. those that need an experienced money partner that won't jerk them around. and you know me tell it like it is

engelo its jay is my post working on this site...My first one