For the last 40 plus years, Jay Henrichs has been a real estate broker, sold raw land, built developments, been a mortgage banker and hard money lender, sold timber, and survived multiple recessions. He became what he had to be based on the situation — even if it meant going outside the realm of conventional real estate investing. In this episode, Jay shares his sage wisdom and advice for those considering investing for the first time or for those already investing but considering a shift in their business model.
Jay Hinrichs is a serial entrepreneur, businessman and real estate investor who was born in Burlingham, California and grew up in Cupertino and Napa Valley.
As a youngster, Jay’s real estate career started with hanging “door hangers” for his dad who was a developer in the Clearlake, California. In the mid 70s, he got his California Broker’s license and became active in development and land sales. Later, Jay took an interest in lending, mentored with a family friend and eventually became president of Langer Mortgage in Oakland, California. At Langer he administered $35 million in assets funded by well over 250 investors. In 1991, he sold the mortgage company to Spartan Mortgage.
Moving north to Oregon in the mid 1990s, he started a company called Cedar Mountain where he bought and sold timber rights and timberlands. He later acquired his Oregon Brokers license and started developing housing subdivisions in the Portland Metro area. Forming the Silverado Group, LLC, he also became one of the top buyers of foreclosure and pre-foreclosure properties in Washington and Oregon. He got his Oregon Mortgage Banker license and founded Silverado Funding, LLC, a private money lending company. In 2005, after the Hurricane Katrina disaster, Jay flew to Mississippi to use his real estate expertise to address the housing shortage. His company provided more than 2,000 private loans to rehabbers who were renovating properties for renters in 8 different markets. Although hit pretty hard by the financial crisis in 2008, he rolled up his sleeves and was able to get through the crisis before moving back to Oregon.
Today, Jay is a home builder, building 25 homes a year in Portland and 10 homes a year in Charleston, SC. In addition, he funds over 200 fix ‘n flip deals a year for fix and flippers in 15 different states.
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