All Forum Posts by: Jay Hinrichs

However we are not high volume.. and we dont broker per se I just did my first loan with another money source this year first one in my entire career LOL..

when I do market per se I just get on the phone and reach out to someone i think we can help.

1 Vote

Quote from @Luis Ramos:

you misunderstood Ken

Contract for Deed is executed when Due On Sale is triggered by the bank. Scott Horne and his team help execute this.

Subject to is (a) strategy I use to acquire properties.

that wont stop a lender/note holder from following through with the Alienation clause that is in almost all mortgage/deeds of trust.. your getting some bad advice.. sub to is fine but you do need to be able to refi or payoff in the unlikely event of a water landing.. nothing else will stop the foreclsoure action and if it starts teh people you bought it from are going to be very Peeved as their credit is going to get trashed..thats why its just plain stupid for most sellers to sell sub to if their credit is at risk.

1 Vote

Greenville, South Carolina

Quote from @Rene G.:

@Jay Hinrichs I've been doing this for free for years. Who are these people, got any names? I'm in this forever and that's why I'm the Forever Landlord. lol I'm not going no where. It's crazy how people want to hate on others. Why don't you thinks it's good to master something and as you get older, I'm 39 now and then want to give back? After COVID when I had nothing to do, I got bored and kinda depressed. It taught me that I needed something to do "forever" NEVER RETIRE! So I committed to being the best landlord helper I could. There is no shortage of people needing help with their DIY property management. I love getting to know small mom and pop landlords and helping. This gives me meaning and purpose. After I got out the military I had a buddy (we called him Smitty) commit suicide because he lost purpose. Tell me what's wrong with what I'm doing? Why is this bad? I don't get it. I'm truly trying to understand.

its your tag line it leads one to make the assumption your selling a course .. I apologize that I took it that way.. we all give back in our own way.. a few years ago I organized a group of very successful BP members and raised over 200k for the charity we started 100% of the funds went to the home we bought and rehabbed Not one dime went to overhead etc. and gave a home away debt free to a deserving veteran there in Memphis.. I found raising money for charity is quite hard. When I started I thought with my voice on BP and my willingness to give 30 minutes to an hour of my time in exchange for a charitable donation I would raise the money in a matter of months.. took almost 2 years :( and BP was so kind to allow us to present at BP con..

Although I will say this as I have been in the Mid west east coast D C B rentals for over 23 years now and I owned at one time over 300 SFRS of this type.. Out of state owners trying to self manage I dont think personally is realistic . I think it can be with Class A top end props where the tenants have 700 plus ficos but you try to do this with SEction 8 or really any area of C class on your own and the risks are quite high. Even for me I found it was too tough to manage all these lower end rentals so I sold them all. However one does need to pick the right manager and I do think they need to also buy the best property they can.. many investor bring pain to themselves by buying lower end properties and thinking the PM is going to be able to manage them like they are A class.. the renter class in the US can be quite difficult to manage given their 1 financial upset from missing rent.

2 Votes

Birmingham, Alabama

Quote from @Barbara Berta:

Quote from @Jay Hinrichs:

Quote from @Barbara Berta:

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...

give Jims company a try watch his videos on dealing with dead beat tenants.. they are as he likes to say SAVAGE.. you are the owner though and the idea that you can hand everything over your learning is novel but does not work you stop managing the tenant and start managing the PM.. me personally I would have gone there and walked into their office and figured it out.

I would have gone there too but I'm thousands of miles away. Who is Jimmy you are referring to?

james wise

0 Votes

Cleveland, Ohio

Quote from @Drew Sygit:

@Rene G. and you have a course for sale on how to be a DIY landlord.

Where's your transparency?

no kidding LOL.. I knew the folks that started decas years ago.. not sure whats up with them today

1 Vote

Birmingham, Alabama

increase your down payment and see where you end up.. and or pay cash everything cash flows when you pay cash

4 Votes

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.

too funny I see we aleady had this conversation.. SEnior moment on my end :)

1 Vote

Quote from @Kerry Noble Jr:

Quote from @Jay Hinrichs:

Quote from @Kerry Noble Jr:

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.

do these people have access to your actual CREDIT ? Or is this just adding an authroized user but never giving them access ? what if they somehow get access and run your cards up ?

0 Votes

Quote from @William Arias:

@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!

there are note buyers that have been doing this for years and year. However a large % of seller carry back is going to be on Land .. and I find land notes to be quite lucrative if you know what your doing B/C of lack of competition..

1 Vote

Orlando, Florida

Quote from @Kerry Noble Jr:

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.

0 Votes

All Forum Posts by: Jay Hinrichs

Jay Hinrichs has started 328 posts and replied 41837 times.

Post: What’s Your Marketing Strategy - Rifle or Shotgun?

Post: Would You Buy This Subject-To Deal

Post: Decas Group property management

Post: Negligent Property Management Companies in Cleveland

Post: Decas Group property management

Post: All NEGATIVE cashflow when analyzing trying to buy my FIRST deal - WHY???

Post: Anyone sell tradelines?

Post: Anyone sell tradelines?

Post: Where Can I Find Private Note Holders or Owner-Financed Notes?

Post: Anyone sell tradelines?

Jay Hinrichs has started 328 posts and replied 41837 times.

Rounded Star Post: What’s Your Marketing Strategy - Rifle or Shotgun?

Rounded Star Post: Would You Buy This Subject-To Deal

Rounded Star Post: Decas Group property management

Rounded Star Post: Negligent Property Management Companies in Cleveland

Rounded Star Post: Decas Group property management

Rounded Star Post: All NEGATIVE cashflow when analyzing trying to buy my FIRST deal - WHY???

Rounded Star Post: Anyone sell tradelines?

Rounded Star Post: Anyone sell tradelines?

Rounded Star Post: Where Can I Find Private Note Holders or Owner-Financed Notes?

Rounded Star Post: Anyone sell tradelines?

Post: What’s Your Marketing Strategy - Rifle or Shotgun?

Post: Would You Buy This Subject-To Deal

Post: Decas Group property management

Post: Negligent Property Management Companies in Cleveland

Post: Decas Group property management

Post: All NEGATIVE cashflow when analyzing trying to buy my FIRST deal - WHY???

Post: Anyone sell tradelines?

Post: Anyone sell tradelines?

Post: Where Can I Find Private Note Holders or Owner-Financed Notes?

Post: Anyone sell tradelines?