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All Forum Posts by: Geoffrey Schnake

Geoffrey Schnake has started 2 posts and replied 105 times.

Post: Bathtub and tile refinishing

Geoffrey SchnakePosted
  • Property Manager
  • Saint Petersburg, FL
  • Posts 113
  • Votes 87
@Eve Oliver. We use the tub and tile kit from big orange box. It works well but you must prep it. Exactly as directed. Will last about 3 years before having to renew it. The roller application works better than the spray

Post: How can i get 15k to aquire an auction property? 2nd on deed?

Geoffrey SchnakePosted
  • Property Manager
  • Saint Petersburg, FL
  • Posts 113
  • Votes 87
use a credit card. I've done it many times on a small deal like that.

Post: Convert a Florida sun room into additional bedroom w/wo bath

Geoffrey SchnakePosted
  • Property Manager
  • Saint Petersburg, FL
  • Posts 113
  • Votes 87
@Krishnan T. . I've done similar projects on many homes in tampa and St Petersburg. it absolutely increased the value every time. building inspectors are tough in South Tampa so do it by the book. to get a rough estimate of the added value, figure out the sq foot value of the house and multiply that by new space in heated area. give an extra bump for the new bath, 3 to 5% of the whole home value perhaps. as far as cost, 10k will hardly get you started, that would be a basic bath alone. very basic good luck with the project

Post: So you want to be a Developer ???

Geoffrey SchnakePosted
  • Property Manager
  • Saint Petersburg, FL
  • Posts 113
  • Votes 87
100 nine year old boys, 100 mayonnaise jars. 2 weeks, call it camp. no more salamanders. probably wouldn't cost more than 50k. salamander mitigation and a great experience for 100 young kids.

Post: Using Credit Card Debt To Invest

Geoffrey SchnakePosted
  • Property Manager
  • Saint Petersburg, FL
  • Posts 113
  • Votes 87
I have bought buildings this way. as all the smart people above have stated, think carefully about how you are going to stay ahead of the bank (paying off the loan before the interest rates. kick in) I just funded a new business using a cash advance check. I have the cash to fund it out of pocket but, free $is better. imo.

Post: Asbestos Siding on a Potential Deal

Geoffrey SchnakePosted
  • Property Manager
  • Saint Petersburg, FL
  • Posts 113
  • Votes 87
I have done that in my market (Florida ). it's called encapsulation. I covered the asbestos with house wrap and put warning stickers all over the wrap, then covered it with vinyl siding. city approval, no problem.

Post: Install HVAC in rental and be broke or NO?

Geoffrey SchnakePosted
  • Property Manager
  • Saint Petersburg, FL
  • Posts 113
  • Votes 87
you said you got 4 quotes for hvac but those numbers don't sound right. a 3 ton unit will do the job and in my neck of the woods I can get that done for 5 k max. keep getting quotes till you get the right price.

Post: Sufficient size dumpster for gutting a house.

Geoffrey SchnakePosted
  • Property Manager
  • Saint Petersburg, FL
  • Posts 113
  • Votes 87
100 yard, 20 tons roughly

Post: Which property? $25k gut/rehab or $55k/light rehab

Geoffrey SchnakePosted
  • Property Manager
  • Saint Petersburg, FL
  • Posts 113
  • Votes 87
I'm thinking you want a buy and hold property. I lean towards gut rehabs if the money is right. my thinking is you have 10 years of minimal capex cost that way, new systems. my background is construction related and that probably skews my opinions. buy them both if they are deals. in my market there is more Capitol than deals.

Post: Plumber Melted An Acrylic Tub, Anyone Got A Good Solution?

Geoffrey SchnakePosted
  • Property Manager
  • Saint Petersburg, FL
  • Posts 113
  • Votes 87
most tub manufacturer have local guys that can do a perfect repair. you would be surprised how often new tubs are damaged by other trades. the repair guy will often have 20-30 jobs in one subdivision.