All Forum Posts by: Jay Hinrichs

@Karen Margrave 

  Life is good right now... but back in 08 to 2010  it would have been a completely different story... My little e book is basically my story of how I wrestled with the mid west.

it would have been... come to work and address my 16 employees and get our default list which grew daily.. then figure out what the heck we were going to do... It required me moving to the Mid west for almost a year to get control of my portfolio there. .I could not do any work in Oregon so I lost a year of income... Instead of getting proceeds from escrow closings I was writing checks to close deals with funds that were never going to come back..

And that is how I got a PHD in Mid west cash flow market investing Nothing like being on the ground and pounding on doors trying to figure out how the heck things could go so wonky so quickly..

Now I am as busy as ever but I just retooled in a fashion that I only need one full time book keeper everyone else runs their own business.. From my building were I hire the GC at a contract rate.. and control all the funds.. But I don't have to micro manage them Ya if I wanted to be the builder and do it all I could make 10 to 15 more per house that I currently pay them but I would truly be killing my self time wise and would not do as good a job as they do.. Same with all my fix and flip guys just let them make the big buck aroos and we make our little return but we do a lot of them... so it does add up...

If I could not get out of Oregon In the winter I would go back to how I worked in Oregon in the 90's  I would live in the Napa valley and commute up to Oregon for 3 days a week.

I sent a request into the world headquarters of BP but is suspect the audience can help me with this quicker and I don't take up valuable BP staff time.

My monitoring functions are no longer working.. I press monitor thread but nothing happens I no longer get e mail alerts etc etc.

any advice from all you computer guru's out there would be appreciated.

@Allison Leung 

since I have 3 distinct and different enterprises surround by and in RE my day is as follows.

up between 5 and 6 am  I never set the clock  just wake up when I am done sleeping

so say from 7 to 9 am its looking at the deals I am funding for fix and flippers on the east coast...

10 to 11 its off to the bank to wire funds to the east coast fix and flippers escrows or to sign docs for this activity.  then pop over to fed ex to overnight docs back to the east coast.

come back to my home office check e mail converse with my full time bookkeeper its usually how come we spent this on that and how come we did not make more on that deal LOL

then a little lunch or a lunch appointment usually with my banker.

then afternoon I make the rounds looking at the new construction I have going on in Oregon. Or sometimes meetings with city folks like last week had a sit down with the Public works department as we were scheduling a pre con meeting for a 27 lot subdivision I am building.

Once quarter I take a road trip out east and visit half of my vendors that I fund fix and flips for ( I am not a HML) I only do Jv's with them I am a capital partner big difference. that's a week on the road.. Like on the 15th my schedule with be Chicago get in late spend the 16th looking at my investments there.. then that night I am going to a Chicago meet up that Brie is holding... Next day fly to Charleston SC look at my new construction I have going there and look at the 5 lots I bought there in the last 45 days and decide which ones go first.. Also meet with my new bank there I am getting 2 vertical loans at a local bank which is really cool.

Birmingham next day  meet with my fix and flipper there I have been doing business with for over 10 years.

next day Jackson MS to meet with my guys there then back to  PDX.

Oct going to Hawaii for 10 days. I take a 10 day vacation every 90 days or less starting in Oct because the weather in Oregon well its ya now a little dreary.

Yesterday I played hooky and went flying over to sunriver and had a hot dog that cost me 350 bucks..

@Joel Owens 

  Good catch on Bob in the plane with his pooch... He was probably hitiching a ride with Duncan Taylor in his G 4 

@Jeremy Hale 

  your missing a few  things we build for 200k and sell for 400k but we pay 80k for the lot we have cost of capital ( in my case 6% because I borrow from a local community bank) you have sales commission of 24k  you have tax's insurance.. my builders risk insurance my comp insurance that runs 2 to 3k per house when your in new construction I have one full time bookkeeper that makes his monthly salary etc et.   The reason most folks don't buy and build themselves is two fold.. It is exactly like you stated in one of your above posts they are worried that something will go wonky with the GC.. believe it or not its hard to find a GC that did not get bruised in the GFC so even though they are not the borrower banks look at GC creds and will not lend if the GC has got bad recent history.. ( not all banks but many) as well as construction to perm loans are pretty tough to get.. Then you have the time it takes to build a home.. the fights the couples get into during the process its very stressful building a home and having to make every decision. So that is why people by and large just want to buy when its done.. Plus the builder is paying the carrying cost until completion.. Now we pre sell half or so of what we built.. But we have strict guidelines and time tables for the buyer to make decisions.. and we do not allow them on the Job site but once every 2 weeks at a prescribed time and we make them have their Realtor present. this cuts down on visits as the Realtor does not want to stand around why the client walks through the house... Etc etc  these are the nuances.. The only reason I even list my houses before they are dried in is because my bank will not count a pre sale against my pre approved 12 loans I can have at any time ... So if I have 5 presales I can have 17 going vertical at anyone time.  But yes good question.. hopefully my long winded answer helps you understand some of the process in Newco.

@Roger Kanbar 

  Your welcome Roger and good luck... I am like Canadian Air traffic Control  once you talk to me you will receive a small bill in the mail  LOL...

I am having coffee this afternoon with a BP member that lives here in Oregon.

Then finally its the start of the 49er season hope we do well again this year.

@Account Closed 

  Thank you Marvin I guess I did not really understand what you do or what your company does...

I do not want my E book upload or published on BP... but again I deeply appreciate the thought and time you put into trying to help me through the steps if indeed I wanted to put it up on BP... I am happy sending it to those that take the effort to send me an e mail.. I like to send it to them with a little note of encouragement and ask for feedback.  And or any other follow up I may be able to help with.. I like to help folks in my own way... I am sure the e book will get spread around organically now that I have sent it to all these BP folks.

The content of the Book as you state is not something that would benefit you.. You from the sounds of it and by reading your very well written posts could write your own.. Since your in the maintenance business that would be an invaluable E Book to the many landlords on this site.. I encourage you to do that.. As we all know bad maintenance is a leading cause of death to a cash flow investor...

@Account Closed 

  I just learned about right CLICK last year.. But again I really appreciate you trying to help me here....

When I have computer issues I either call my grand kids and they come and help me or I hire someone.  But I did learn to type in High school so I can type 40  words a minutes with a modicum of spelling errors.. and if I feel like it I will do spell check and correct them other times it hey who cares you get the drift.

But the bottom line is I have 40 years at this well over 2 thousand escrows closed. The budinsky Joe Bore ( or is it Gore) challenged me on that and we had a race and I won.

End of the day you make your living flipping properties to investors. My E book helps them deal with folks like you .. By knowing what to ask how to do proper due diligence explaining what war zones are ,, we talk about proper insurance etc etc.  Nothing in my book would benefit someone like you who is in the business

@Account Closed 

as you know I was a HML of some repute in the day.... And of course we asked for SS and Date of Birth. for two reasons one.. we wanted to run credit to make sure the client was not currently in bankruptcy or other entanglements or to see really how bad they were. Even with non recourse if we saw a pattern of default or a bunch of other credit issue it was a denial.. And date of birth we needed to make sure they were of legal age to contract.

@Brian Gibbons 

  Brian  that scheme of master lease will not work in most jurisdictions. This is clearly a Ruse to circumvent the laws.. In Oregon PM license is one of the toughest to get.. You need to be a Principal broker and then take another test for PM.  I would refrain from giving folks that particular advice... Same with Joe's advice... Unless you have a real company that has real employees this again is just a ruse...

Marvin,,,

 I appreciate the time and effort it took you to try to explain how I would upload a book but that is far to complicated for me .. I would not know how to find the e book on my computer in the first place.. I have it attached to an e mail and I just forward said e mail to whoever wants one.. .. I learned how to cut and paste a few tears ago... But I can't cut and paste from the BP website to my e mail were I put the recipients email address in ..

I just always ran company's and my staff did this stuff so I never learned or had interest to learn how to do this.. and since I don't make my money marketing on the internet its kind of moot to me. 

But again thank you for taking the time to delineate the steps one would go through to put a e book on the BP website.

and good luck with your middle man business...

JLH