All Forum Posts by: Jay Hinrichs

Does anyone run a tradeline business? I used to have one of my credit cards on file with a smaller tradeline company........until the owner got greedy with what she wanted to pay me for my card.......I would love to get my tradelines back out there and generate some side income....just looking for more tips on where to market and network with indviduals that need tradelines.......any info is appreciated.

Quote from @Jay Hinrichs:

Quote from @Kerry Noble Jr:

Does anyone run a tradeline business? I used to have one of my credit cards on file with a smaller tradeline company........until the owner got greedy with what she wanted to pay me for my card.......I would love to get my tradelines back out there and generate some side income....just looking for more tips on where to market and network with indviduals that need tradelines.......any info is appreciated.

OK Kerry what is this .. how does it work  how do you make money doing this.. any help would be appreciated.. one area of RE and finance I have no clue about.

 Yes sir! In its simplest form, I basically sell my authorized user spots on my credit cards. 

currently they're listed through a couple tradeline brokerages. And the brokerages send me people to add. They have the customer base.

@Jay Hinrichs 

Appreciate the advice — that’s super helpful! I hadn’t thought of using public records like that, but it makes a lot of sense, especially coming from a wholesaling background.

Right now I’m focused on finding both seller-financed and institutional notes for a couple buyers I’m working with, so I’m always looking for better ways to source deals. Thanks again for sharing your experience!

Does anyone run a tradeline business? I used to have one of my credit cards on file with a smaller tradeline company........until the owner got greedy with what she wanted to pay me for my card.......I would love to get my tradelines back out there and generate some side income....just looking for more tips on where to market and network with indviduals that need tradelines.......any info is appreciated.

Quote from @Jay Hinrichs:

Quote from @Brian Williams:

Quote from @Erik Estrada:

Quote from @Brian Williams:

Be very careful dealing with this group. Especially first time flippers dealing with them on hard money loans. #1 thing they do not mention until 1 1/2 - 2hrs before closing after being asked multiple times days before closing is that your rehab money is not being funded to you even though that is how it is stated on their paperwork. It is a reimbursement of your own money that you spend, after they review to approve the value of work and money you spent. They pretty much stole $7,500 from us since they couldn't provide that information until they did. We had to back out of the deal because using our money for rehab and getting reimbursed later was not what was planned or how they sold it and would have put us in a bad financial position since they could not give all the proper information upfront. Not sure how they legally do it because funding and reimbursing is 2 completely different definitions, so I would be very careful for any other words and definitions that they manipulate to put money in their pockets. Would not recommend these people at all there is a reason they have a F on the BBB. I just wish I would've paid attention. This is a group of people with no morals who is more concerned with putting money in their own pockets instead of being upfront, honest, truthful with people in the beginning.

 Most Hard Money Lenders and Construction lenders follow this model. 

Think about it. What if you can't complete the project or use the funds for something else? 

I do agree though that they should have explained the draw process to you and have written you an email to you before getting under contract. I usually have everything in writing so I can reference it back to the client. 

A way around this is to take on a secured LOC for rehab fundings. I would suggest getting this set up beforehand.

Keyword most!  Again they new this was my first one, and I asked multiple times a week or more in advance and those pieces of sh it could’ve and should’ve been honest right from the get go not finally telling me they will reimburse me my own money 2hrs before closing.   Them doing it that way was going to put me in a financial bind just cause they couldn’t be fuc king honest at the beginning.   Then the pieces of sh it kept my $7,500 deposit money after lying and deceiving me.   Sorry but reimbursing my own money I spent is not funding sh it!   They are just con artist and piece of sh it thieves!

7500.00 went to Who ???  the lender ???  or did you lose your EM because you failed to close escrow ? 

Not exactly sure who got it. Might have been New Western Reality who set me up with easy-street.  But I do know for a fact Delilah McMahan with New Western Reality and Taylor Florentino with Easystreet flat out deceived and lied to me and didn’t give me the very important information until 2 hours before closing.  I had to back out because they weren’t honest and if I signed those papers would have put me in a financial bind.  So not only did I lose $7,500 because of them I lost all the time I spent on it as well when I could have been doing something else actually making money.   Again they knew this was my first time dealing with any hard money lenders and I asked multiple times a week or more in advanced. I don’t understand what is so difficult to be honest with your customers.  Again there is a reason Easystreet has a big F on the BBB I just wish I knew sooner. New Western Reality and Easystreet capital are both lying, deceiving thieves with no fu cking morals!  Oh and don’t ever do an auction with New Western Reality because they use the owners brother as a fluffier to jack the price up to highest price point someone will go to. 

Quote from @Erik Estrada:

Quote from @Brian Williams:

Be very careful dealing with this group. Especially first time flippers dealing with them on hard money loans. #1 thing they do not mention until 1 1/2 - 2hrs before closing after being asked multiple times days before closing is that your rehab money is not being funded to you even though that is how it is stated on their paperwork. It is a reimbursement of your own money that you spend, after they review to approve the value of work and money you spent. They pretty much stole $7,500 from us since they couldn't provide that information until they did. We had to back out of the deal because using our money for rehab and getting reimbursed later was not what was planned or how they sold it and would have put us in a bad financial position since they could not give all the proper information upfront. Not sure how they legally do it because funding and reimbursing is 2 completely different definitions, so I would be very careful for any other words and definitions that they manipulate to put money in their pockets. Would not recommend these people at all there is a reason they have a F on the BBB. I just wish I would've paid attention. This is a group of people with no morals who is more concerned with putting money in their own pockets instead of being upfront, honest, truthful with people in the beginning.

 Most Hard Money Lenders and Construction lenders follow this model. 

Think about it. What if you can't complete the project or use the funds for something else? 

I do agree though that they should have explained the draw process to you and have written you an email to you before getting under contract. I usually have everything in writing so I can reference it back to the client. 

A way around this is to take on a secured LOC for rehab fundings. I would suggest getting this set up beforehand.

Keyword most!  Again they new this was my first one, and I asked multiple times a week or more in advance and those pieces of sh it could’ve and should’ve been honest right from the get go not finally telling me they will reimburse me my own money 2hrs before closing.   Them doing it that way was going to put me in a financial bind just cause they couldn’t be fuc king honest at the beginning.   Then the pieces of sh it kept my $7,500 deposit money after lying and deceiving me.   Sorry but reimbursing my own money I spent is not funding sh it!   They are just con artist and piece of sh it thieves!

Quote from @James Wise:

Quote from @Barbara Berta:

Hi everyone,

I’ve worked with two property management companies in a row that seriously failed to deliver, and I’m at a loss on how to move forward.

The tenant in one of my units was supposed to be evicted starting in early April. However, neither the first property manager nor the second one actually filed the eviction, and now, several months later, the tenant is still living there, and the process hasn’t even begun.

The second company has also been completely unresponsive. I’ve followed up multiple times, waited weeks for answers, and still haven’t received basic information or confirmation that anything is being handled. I hired them to take over day-to-day management and oversee the eviction and renovation, but I’ve ended up having to micromanage everything myself and lost thousands of dollars in the process.

Has anyone here taken action against a property management company for this kind of negligence or breach of contract?
What are my options to hold them accountable or recover some of the losses?
Is small claims court the only option, or is there another path I should look into?

Also, if anyone can recommend a truly reliable and professional property manager -especially for out-of-state investors- I’d really appreciate it.

Thanks for all the advice and recommendations.

 What was the reason for both of these PM's not filing said eviction? There's got to be more to this story if they both did the same thing.

They didn't do the same thing. The first property manager filed the eviction on the wrong grounds. Then it turned out they hadn’t even given proper 30-day notice to the tenant, so we had to wait another month just to restart the process. By that point, we were in 2 months delay, and they wanted to make me wait another month, They made so many mistakes that I completely lost trust in them, and I hired another PM who told me we wouldn’t need to wait another 30 days, and we could file after serving a 3-day notice. But even after 30 days of chasing them and practically begging for proof that the eviction had been filed, I received nothing. To this day, I have no idea if they ever filed anything at all. They just stopped responding to my emails and never provided any answers...

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