All Forum Posts by: Shawn Coverdell

Hood properties are a niche that is only for the hardest and thickest skinned investors. All my properties fall into this category. I carry a gun daily. I sometimes wake up in the middle of the night asking my self, did that really happen? I can't really describe it, you just have to live it to understand. You better be able to pick up a human turd from off the living room floor,  Dispose of a mound of hundreds of used women's pads, Take an entire truck load of used baby diapers to the dump and then go to lunch. 

If you can do all of those things and some others I will not mention on here, You will be one rich dude. You can retire in 5 years if you want too. The cash flow is off the charts. I read the posts on here and think to myself man, those numbers suck compared the what we are seeing. 

Shawn Coverdell

Homes in the Hood 

and as far as location. I live in the VERY expensive North West. Not far from Portland. 

Go on facebook. Hire someone for 20 bucks per hour. an EXTEMELY slow painter will be done Inside and out in a week. 7 ten hour days comes in at 1,400 dollars. Anyone that slow I would cut loose in the first few hours because you can just tell, But I am going with extremely slow painter numbers for worst case scenario. Add 800 bucks for paint and primer etc. 

2,200 dollars total. (again this number is much higher than I pay), I find painters this time of year for 16 bucks per hour. Best time to find employees as construction slows down. 

This is why I always suggest people doing there own work when starting out. This way you know costs right off the top of your heard. If a contractor quoted me 2,500.00 I would just say, "thank you for your time". and let them on there way. I would not be angry or insulted because they are just fishing for bigger fish. 

Shawn Coverdell

Homes in the Hood

If you have the energy, sell them. 1.1 million is not a huge amount but will get you off to a good start. Buy some stinkys and make them into shineys. preferably in another area where the numbers are better. If you buy low and do well on the remodels, you should be able to double up on that equity. 

Shawn Coverdell

Homes in the Hood

James I somewhat disagree. I have 2 section 8 tenants. Both units are BUY FAR my nastiest units. But they are a good fit because the tenants are nasty too. One brought her pet rabbit in for winter so it would not get cold. Let it run around free The place smells like a Chevron Gas station rest room.

the other one paid deposit on 2 chihuahuas. (Needs government to pay her rent, but can come up with 500/per pet deposits). just yesterday I talked to her about how her 100 pound dog did not resemble a chihuahua. I am kicking her to the curb. 

I used to work with a few men who had no legs. They still worked. Section 8 people are Bums. Straight up loosers. Yes this can be a great nitch depending on the area, but you better be thick skinned. I am not sure what you mean buy forceing landlords to do repairs because both of my section 8 units are absolutely discussing and what I would consider unhuman. But they pass inspection every time. 

I think people just think what they want to think or what they heard on TV. Section 8 is straight up payer supported Zombie shelters. 

Shawn Coverdell

Homes in the Hood

Not sure what to say. I would recommend staying our of  investing all together. Sorry. 

Shawn Coverdell

Homes in the Hood

If you like weekends off = purchase some 18 inch rims for your Nissan Sentra and up your system, Hope for recognition. 

If you understand you need to work 80 to 100 hour weeks to build capital. Contact me. You are the rare individual who has what it takes. 

Shawn Coverdell

Homes in the Hood

When you get about 10 doors you might want to get a truck in the 3 to 6K price range. Nothing fancy. Dents and scratches are a bonus. If you show any sign of financial success or happiness, your tennents will be will like you that much less. 

Good luck. 

Shawn Coverdell

Homes in the Hood

I think it depends on your nitch. in nice neighborhoods. Hell no. but if you buy D and F properties like I do, then you best get hard real quick. This is not a game of political correctness. To make it in the Hood, you have to change your values somewhat to meet the area needs. 

If you the tenants only sin is illegal status, that is a saint in some areas. Rent to the illegal immigrant or the American white kid with gages in is ears proudly displaying his butt crack while holding a leash to his new "Pit". 

There is a reason there is a 99% and a 1%  

May the wise survive. 

Shawn Coverdell

Homes in the Hood

I don't want to sound mean but this is your money you are investing and this needs to be said. If you are dependent on contractors to make this deal work, I would pass on it. You need to lean to do repairs yourself at least for the first few or you may very well get crushed. I'm sorry, but TV has really mislead a lot of people into flipping. they try one and never do it again. YouTube can be a treat source for many repairs. Get a contractor license and hire people. Learn the secret to Fire, fire, fire, fire, Keep and I will see you in Mexico. 

Shawn Coverdell

Homes in the Hood