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 the late 1990’s.
As a youngster, Jay’s real estate career started with his father having him hand out ”door-hangers” in the Bay Area and walk development lots in Clearlake. 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 crisis began in the U.S. and Silverado Funding was not immune from the fallout. The problem they found 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 into permanent financing because the laws changed from 10 to only 4 non owner occupied loans in one name. The house of cards started crumbling and Jay and his wife had to move to Mississippi to pick up the pieces and take over the management of the loans that were going into default.
Jay acquired 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.
As Jay had survived the real estate markets ups and downs he began to create his vision of how there could be a real estate investment that was steady, secure, and safe. He saw personally how he could improve a tenant’s life, a neighborhood, a town, as well as, the investor’s asset. That is when he created the True Wholesale Houses model. He resigned from Silverado Funding and Silverado Group and began a company that was proven to be a model of real estate investment that worked with the opportunity in this economy and with this time in real estate. Jay established this new company to a point where he could sell his position and start his own business using his background and expertise in real estate development, building and investing.
Jay is the Owner/Manager of JLH Companies. JLH Companies is a peer to peer group investment firm for accredited investors with a minimum of $250,000. JLH Companies has proven to be a facility with high returns and real estate investment opportunities throughout the United States averaging 32-35% Return cash on cash.