All Forum Posts by: Jay Hinrichs

@Tucker Merrihew Lot surplus... wow.. coffee ASAP want to see what you have

@Will Barnard I always have told folks 55% of rent for costs. if you do better thats great. but don't buy an IP with the thought that 40 % is going to do it and your shocked when it does not come out that way, and or can't afford the difference which was very common in the day.. when lenders allowed multiple loans to those that had no cash reserve's to speak of and the investor thought they were going to make 50 a month and ended up losing 100 a month based on reality and then at the end of the day lost the property to the bank and there you go another foreclosure in KC to be resold to another wholesaler rehabber then sold by another turn key company etc etc vicious circle the highly leveraged Class C cash flow prop

@Jon Holdman

will do only on my second week and learning the ropes sorry

@Will Barnard

Will, the Aussies certainly learned this the hard way buying 30 to 40% gross income properties in Detroit. And I guess folks on this site are not quite as intuned to how properties have been marketed over seas by the US turn key outfits.

And yes my comments were factious sorry you did not get that.

I do understand basic RE accounting, although I don't do it myself I have people that do that for me. My job is the rain maker :)

@Ann Watkins

call your customer service agent at FATCO and ask to sign up to their national data base.. If you do much bizz with them you may be surprised that they give you access.

@J Scott

that is how the Aussies figure cash flow :) when I started blogging in AU 5 years ago all they talked about was gross cash flow.. Never a mention to net numbers and ( what they called running costs).. well after a few thousand forays into the hoods of the greater American inner cities they are learning the hard way unfortunately about gross and net.

I am sure Rick can enlighten you as I am sure you do not want to make any ignorant comments in this regard :)

@Engelo Rumora

I was reading some very disturbing forecast about AU properties I will start a new thread on it , would like your take

@Ann Watkins

can't you as a RE professional that does a lot of bizz just contact first American title and get their special log in.. You then could look at all this data from their data base..

I guess we have it really good here on the west coast all this info is just one simple phone call and about 90 seconds. and its dead on acurate

@Justin Morgan

he has a home there and a hanger at the airport and builds in PHX. As a fellow pilot I am always envious of someone who can afford to buy a jet before they are 40 and pilot it themselves...

@Tucker Merrihew

Hey Tucker good to see you here!! how did you do on your street of dreams project? Lets have coffee soon.. I have a bunch of Newco going and I have gotten some pretty good lending products for PDX construction.

I think you will find that profit margins in others areas of the country are much better than our vanilla deals here in PDX> Our lot scarcity bordering on acute is the major reason. I have opened two new markets for new co..