All Forum Posts by: Jay Hinrichs

@Russ Scheider

Russ I will be in your fair city this week .. I discovered it a few months back. I have loaned money on 3 fix and flips and bought one for myself 141 Rose Lane Old mt. Pleasant. Plus I just bought a lot that I will do a new build on.. I am finding that the market there is red hot competition keen so looks like building is going to be the way for us to keep deal flow I need 2 a month to make it worth opening a new market.. Of all the places I have invested in the South Charleston is by far the coolest.. But the hotels man they are expensive downtown :) Would like to meet up with you later in the week if you got a few minutes. maybe we could compare notes.

Most of my turn key guys that tried rental Guarantees and maintenance ended up not liking it. And or as Mr. Davis pointed out needed to mark them up to cover this expense. Neighborhoods not withstanding.

Although the little bit I know about Memphis I do Know Germantown would be a place that could appreciate as opposed to areas that are over flowing with rentals.

Tax sales in the bay area are really tight anything that would go to tax sale is probably has little or no value.. We used to dominate the Lake co. tax sale buying 100 plus properties a year.. All land maybe one house.. SO cal out in the High desert has a huge tax sale. there is a company in Redwood city that buys that stuff and sells to Chinese he is a Chinese guy as well cant remember the company name but I ran into them at a realty 411 event a few years ago.. they make the Aussie spruiekers looks like little kids.

bidding services in AZ GA and other areas are usually 2 to 3k per. Oh Vegas as well. I would suspect Alameda county and contra costa have some activity I would say santa clara san mateo and SF Marin are pretty far and few between.. then Solano had a ton.. Sonoma was active for a while little bit in Napa.. Lake had a bunch one of the highest % in N Ca. Same with Sac and the central valley. Oakland used to be pretty tough in my day.. Al Florida and Shep ( he owned Shepard Cadiallac..) those guys took cash in suit cases had loaded pistols drove Rolls and intimidated the hell out of the competition but that was then and now is now.. They had an office next to mine in Oakland and I remember looking through there window and the big table had the kids cutting the NOD's out of the Trib. and pasting them on sheets of paper OH the good ole days right

who are they?

Who is your favorite Guru...? And why

@Marcia Maynard

Marcia do you ever buy at Auction??? you know Nyland and his crew.. I used to invest with them and compete against them.. Vancouver is a great rental market I have one home left there that is so rock solid I forget I still own it:)

I am in the Riverview bank building

@Tim Haag

Tim I have an office in Beautiful Down town Couv... Its funny you bring up Dave Del Dotto he is now has a pretty cool winery in Napa.. When I lived at Silverado CC in the 90's he rented the old Chateau across the street from my home.. We would often walk over and wine taste he was eclectic to say the least I always got the last resi of the day ( no open tasting needed resi's) then he would open up the bottles and talk about his days on the beach in Hawaii etc etc. Neat guy really And obviously the precursor to all that followed. Sheets allen Montalongo, and all the others... Any way be happy to have a cup of coffee with you one day.

treat them well never raise the rent. and a lot of luck. I have one in Madison MS that the tenant has been there since I bought the home as a newco ( remember the GOZONE) 6 years ago I think now.

@David Campbell

David Nicely done... the markets shift morph move etc. 2003 to 2008 it was all about leverage no money down least money down.. Then the crash then it was all about CASHFLOW and NET returns because there is no appreciation ,appreciation is a bonus blah blah blah..

and of course no one has the benefit from these post to see your actual proforma which includes tax's insurance vacancy reserve maintenance etc. New construction mitigates maint. for the first few years unless you get a bad tenant. New houses should stay rented better than old ones.. Tax's in Texas I hear are high.. And prices don't move a lot.. that's why you can buy a brand new home from you right now for 130k.. Heck we cant build them for that here in Oregon.. And if your selling to investors then the home owner market must not be that strong.. The only reason investors stepped into newco here in Oregon is they paid cash and would commit to 5 or 10.. I sold few to them but at the end of the day I wish I had not.. no matter what, a rental just does not look as good as a owner occ. Unless of course you sell them all as rentals then in my opinion the hood will deteriorate over time. as Home owners will migratge to were there are other homeowners so it makes selling to homeowners harder if you have a bunch of rentals in the Hood. I guess unless you put them into one section. I find Texas fascinating.. ONe of the hot markets but also one of the cheapest places to buy newco in a great state and great economy.. But competition drives your prices.