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All Forum Posts by: Geoffrey Schnake

Geoffrey Schnake has started 2 posts and replied 105 times.

Post: House flip priced at $312,000 with an ARV of $580,000...?

Geoffrey SchnakePosted
  • Property Manager
  • Saint Petersburg, FL
  • Posts 113
  • Votes 87
@Ben Valentin the nubers are what they are. the arv is highly suspect . I know that parts of winter Park are nice but extrapolated Sq footage of 1350 still works out to over 420 per Sq foot. less they moved winter Park to California?

Post: Felony Conviction - would you accept or absolute deal breaker?

Geoffrey SchnakePosted
  • Property Manager
  • Saint Petersburg, FL
  • Posts 113
  • Votes 87
@John Thedford . lol, that's part of my standard pitch, as in " I'm not that worried about previous convictions, as long as you don't bother children and have never killed your landlord "

Post: Refinancing low income properties

Geoffrey SchnakePosted
  • Property Manager
  • Saint Petersburg, FL
  • Posts 113
  • Votes 87
@Joe Villeneuve . thank you. you have given me a different way of thinking about what to do with all the equity I have in my portfolio. I had been toying with trying to get a blanket note but don't want all the cash at once cause I only find deals when I find them. you could almost have a waiting list of small investors, yes? cash out a project pretty quickly when you find a use for the cash. like a baby sindication. must be a lot of paperwork setting it up. would love to hear more.

Post: Has anyone ever taken the struts out of paneled windows?

Geoffrey SchnakePosted
  • Property Manager
  • Saint Petersburg, FL
  • Posts 113
  • Votes 87
hate to be a know it all but it is mullions. I lied, I love to be a know it all. lol

Post: Why don't more large corporations get into REI?

Geoffrey SchnakePosted
  • Property Manager
  • Saint Petersburg, FL
  • Posts 113
  • Votes 87
because It requires micromanagement. the big companies can't bring in the talent to do the job. people who can do it already are doing it

Post: 53 year old duplex, too old as an investment?

Geoffrey SchnakePosted
  • Property Manager
  • Saint Petersburg, FL
  • Posts 113
  • Votes 87
im 65 and all of my properties are my age or older. me and my buildings are rocking. do not worry.

Post: Tampa Contractors?

Geoffrey SchnakePosted
  • Property Manager
  • Saint Petersburg, FL
  • Posts 113
  • Votes 87
star electric service llc in clearwater. jerry is the owner and has a large personality. they are on time and professional. prices are in line and they deal with a lot of investors. i do a lot of value added projects and they are clever at rewires.

Post: Drooping ceiling fan blades

Geoffrey SchnakePosted
  • Property Manager
  • Saint Petersburg, FL
  • Posts 113
  • Votes 87
if it is not too severe you can flip them over and they will self correct

Post: Finding good workers

Geoffrey SchnakePosted
  • Property Manager
  • Saint Petersburg, FL
  • Posts 113
  • Votes 87
i am 65 years old and have been working with buildings for about 40 of those years. i have found the best method of building a solid relationship with contractors is to tame them from birth. and they will still break your heart. failing that option, transparant conversation, what references you can check, and your gut feeling. and then watch like a hawk.

Post: Builders Risk Insurance

Geoffrey SchnakePosted
  • Property Manager
  • Saint Petersburg, FL
  • Posts 113
  • Votes 87
i use tapco. they sell a policy has a refund if you get done early. ive never tried to place a claim though.