Bigger Pockets Celebrity and Authority on Real Estate – Jay Hinrichs. A rare opportunity to hear from most respected posters on BP. Save July 23rd Evening for Networking, Deal making and connecting with friends.
Happy Fourth of July to all of you!! A wonderful day to celebrate our freedom and to be grateful for living in a country that still provides us with such incredible opportunities to follow whatever profession/career we chose.
Folks, I am thrilled to bring to you one of the most widely read poster and most respected real estate expert on BP. This will be a rare visit by Jay Hinrichs of Bigger Pockets fame (guest on show#222) to visit us and spend time with us. Here are Jay’s stats:
VERY IMPRESSIVE INDEED! When does he sleep??? Here is Jay’s bio.
Entrepreneur and businessman, Jay Hinrichs, was born in Burlingame, California and grew up in Cupertino, Palo Alto and finally Napa Valley before he moved to the Portland, Oregon area in 2002.
As a youngster, Jay’s real estate career started with his father having him hand out ”door-hangers” in the Bay Area.Jay got his California Brokers License in the mid 70’s and with the confidence and tenacity he learned as a child, he did very well in the land development and land sales arenas.Jay became President of Langer Mortgage in Oakland, California where he administered a traditional investor pooled real estate funding company with $35m in assets and well over 250 investors. In 1991 this company was bought by Spartan Mortgage.
With a knack for real estate and development, Jay’s career took a turn North to Oregon and he began a company called Cedar Mountain which engaged in the business of buying and selling timber rights and timberlands.Jay acquired his Oregon Real Estate License and enjoyed developing housing subdivision properties in the Portland Metro Area.
When the market changed, Jay changed with the market.He started a company called Silverado Group, LLC and was one of the top buyers of foreclosure and pre-foreclosure properties in the States of Washington and Oregon.He managed an in-house team of contractors, deal finders and even bought a real estate company to sell the houses he was procuring! During this time Jay met another need in that current real estate market and created a private money lending company called Silverado Funding, LLC. Jay obtained his Oregon Mortgage Bankers license.
After the Hurricane Katrina disaster in 2005, Jay put on his entrepreneur cap and flew to Mississippi to see what the tax credits were all about and what he could do to help with the housing issues in the Southeast.There he found that many people were relocating to the State Capitol Jackson, Mississippi from New Orleans and Biloxi.The Funding Company began a series of loans to investors who were buying up the properties, rehabbing them and renting them out to the influx of renters in the area. In the next few years the loan company did in excess of 2,000 private loans in 8 markets.
The Mortgage Investor market began to crumble in the U.S. and Silverado Funding was not immune from the fallout. The problem they faced was that most of their investors were from California (or out of State), had poor property management, took money out of the loans up front, and couldn’t refinance short term Investor Loans into permanent financing due to the credit freeze during the Great Financial Crisis.
Jay and his wife Lori had to move to Mississippi to pick up the pieces and take over the management of the loans that were going into default.
Jayacquired his Mississippi Real Estate License, rolled up his sleeves and drove to every house, met every tenant, collected rents personally, oversaw rehab and interviewed team after team on the ground before he could feel comfortable coming back to Oregon.
Jay’s current business is Short Term Lending in a Capital Partner Model.Jay has also become a new home builder in two markets; Portland, Oregon and Charleston, South Carolina.He is building and selling over 40 homes per year. They are all spec homes ranging in price from $450,000 to $2,000,000.
This will be a great opportunity to Ask Jay Anything. He has done just about every thing when it comes to real estate.
When: July 23rd at 6:30PM to 9:00 PM. Only one day in San Francisco.
Where: NY Life, 425 Market St, 9th Floor, SF
Free dinner will be provided for the folks that RSVP here: https://www.meetup.com/Bay-Area-Multifamily-Moguls/
Got questions about investing out of state or Notes Investing? Email me!
More details here: https://betterturnkey.com/events/
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