All Forum Posts by: Geoffrey Schnake

Love me some section 8

More than half of my units have asbestos siding,  as dose my primary.  It's really a good product,  never rots, looks great with a fresh paint job. It's just that it is...asbestos.  if it gets too ratty to repair you can encapsulate with vinyl or hardie panel.  I wouldn't let it scare me.

This year I am going to have to cut back on some of my income streams. I hate that. I'm turning 65 and some of the more physical things I do are starting to wear me out. I'm only going to set roof trusses on my own projects from now on. Might hire another person to help with the vending machine route.

Sure. If it's not cleared up at closing,  don't close. Easy.

This is gonna sound like a story but I swear it's true .  they opened a hard rock casino in Tampa  Florida by my house. I went in to check it out and had a very good run at the blackjack table .  the run was good enough that I had funds buy a cheep little 3 bedroom in South St Petersburg . nights and weekends rehabbing it and I had a great little rental ,  free and clear . 11 years later I am finishing my 20th unit, all free and clear.

EVERYONE IS A WINNER AT THE HARDROCK!

I promise this is true. p.s., I don't go to the casino anymore . don't wanna give it back.

Lol. we paint one wall of every kitchen a dark green. the background color of pre 2000 us 20 dollar bills. I don't know why but every unit we have done this with has turned out to be a winner ,  either as a flip or rental unit. we do them all that way now. the rest of the walls get light yellow . 

I have a few like that. I provide portable electric baseboard heaters. section 8 allows this.

My 1 bedroom units in St Petersburg are great. less wear and tear and tenants seem to stay longer, I think because there are not as many units to choose from . 

I buy pretty many from the mls but I look for beat up property that I can rehab. I also make many offers. my closing ratio is around 1 in 35. it drives my realtor crazy. I offer cash ,  no inspection period and closing  as fast as the title company can do the paperwork . you just have to view many prospects . 

What is a triple grounded electrical system ? I've been doing this for quite a while and have not heard that phrase. Also, section 8 in my area is fine with an ungrounded system, as long as it proper ( 2 prong receptacles,  labeled gfis )