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All Forum Posts by: Geoffrey Schnake

Geoffrey Schnake has started 2 posts and replied 105 times.

Post: How much learning before looking to purchase a flip?

Geoffrey SchnakePosted
  • Property Manager
  • Saint Petersburg, FL
  • Posts 113
  • Votes 87
I'll probably get crucified for this but here goes. dude, this is not rocket science. buy low, sell high, don't risk more than you can stand to risk, but just go ahead. figure out what the property will sell for, figure out your costs, know what profit you want to make.wala, if you subtract from the selling price you know what you can buy for. go forth and make money tomorrow. delaying is the enemy of advancement.

Post: ENTIRE AC unit needs to be replace. Wiped out ALL cash flow ??

Geoffrey SchnakePosted
  • Property Manager
  • Saint Petersburg, FL
  • Posts 113
  • Votes 87
new, not used. ask me how I know. 2 ton in your market should be less than 3k installed.

Post: Too drunk to be evicted

Geoffrey SchnakePosted
  • Property Manager
  • Saint Petersburg, FL
  • Posts 113
  • Votes 87
@Ryan Murdock just to be clear, you said he arrived heavenly intoxicated. was it the judge or the tenant that had consumed the excessive amount of adult beverages?

Post: Inherited Tenant Problems at my first property- need advice!

Geoffrey SchnakePosted
  • Property Manager
  • Saint Petersburg, FL
  • Posts 113
  • Votes 87
@Emily McCabe I say lawyer up this time, cause you are new. consider the fee an educational expense. watch very carefully and next time you can do it yourself. and if you stay in the business, there will be a next time. it will seem insignificant when it is behind you.

Post: Buying a Duplex Across from a Cemetery

Geoffrey SchnakePosted
  • Property Manager
  • Saint Petersburg, FL
  • Posts 113
  • Votes 87
neighbors are unlikely to be a problem

Post: What do you do with left over materials from a rehab?

Geoffrey SchnakePosted
  • Property Manager
  • Saint Petersburg, FL
  • Posts 113
  • Votes 87
@Mike Flora . used appliances have become an extra income stream for me. not only do I have plenty on hand for my homes, I sell to my investor friends. any time I spy a condo upgrade I get them all. that leads into the original post. storage is the thing. I have a large shop but when I finish a flip I treat the leftover items in this way. 1 return for refund 2 donate what can't be returned 3 if it can't be donated, recycling is the answer. if you do any volume and you try to save odd bits, you will go crazy. more crazy than you already are for being in this wonderful business

Post: Will this property ever round a bend?

Geoffrey SchnakePosted
  • Property Manager
  • Saint Petersburg, FL
  • Posts 113
  • Votes 87
do you self manage?

Post: 2 properties share a well, tenant got electric shut off

Geoffrey SchnakePosted
  • Property Manager
  • Saint Petersburg, FL
  • Posts 113
  • Votes 87
can you run power from the pump to the good tenants panel? quick and cheap way to get the water on until you figure it out.

Post: Am I too old to start?

Geoffrey SchnakePosted
  • Property Manager
  • Saint Petersburg, FL
  • Posts 113
  • Votes 87
@Jackson E. dude, get off the fence here. tell us what you really think. I think your advice is sound, but without knowing the op tolerance to risk is, and the rewards he wants, I think your response is strong. reading between the lines of the original post I think you are correct, but still rei is better than the casino.

Post: Install Appliances or Provide Buyer Credit?

Geoffrey SchnakePosted
  • Property Manager
  • Saint Petersburg, FL
  • Posts 113
  • Votes 87
yes, you must include appliances. the kitchen sells the house, gaps where the stove goes is like a kardasin(fill in your pop star here) with missing teeth