Boys getting their paper back.

[D.L.I.N.K.D.A.GR8]

For example here is a 2 unit Duplex in Lakeland, FL listed for $12,500 that needs renovations and the property is .7 miles away from Crystal Lake Middle school so it checks most of the criteria for Section 8 investment Rental Property within a school Zone. I chose lakeland, fl because that is Ray Lewis's hometown, and he is one of the former Canes named in the Law suite the OP mentioned above.

An just for really rough math Zillow give the property an estimated value of $85K so even if it the whole property was purchased at $12.5K (as is) and each unit rehabed at the max portifilio limit of $15K/unit ($30K in renovation) the Total investment is $42.5K on property zillow estimates to be worth double that. Plus you now receive rental cash flow from section 8 every month (on time which important).

1364-1366 Fairway Dr, Lakeland, FL 33801 (Parcel Number: 24-28-22-000000-042063) (MLS ID# T2757616 )
Link Below
1364-1366 Fairway Dr, Lakeland, FL 33801 - Home For Sale and Real Estate Listing - realtor.com®


Go Canes

That looks like more than 30k in renovations bro

Blue tarps are only about $100 each

Lol need way more than blue tarps. ... everything needs to be replaced. The fire did that property no justice. Be like 5 years before you see a return on your investment. I'm like J.G Wentworth I want my money "NOW"

 

[jw410]

They should have given back to the hood instead of trying to jump into the Gaming business thinking the house always wins. They should have invested in urban redevelopment through rehabbing blighted homes in school zones then renting them out to Section 8 housing, this type of investment yield very low risk long term steady cash flow.

By choosing school zones you eliminate all the potential secondary criminal eliminate that may be lurking on the Section 8 lists since most criminals will not risk doubling or tripling the crime sentence for being in a school zone. Rehabing the homes with Section 8 renters in mind allows for more economical finishes to be used keeping in mind low maintenance durability, very similar to how college dorms are often painted cinder block walls rather than finished sheetrock.

Then the urban real estate portfolio could be supplement by purchasing Tax Certificates again a long term safe investment, because one can never go broke taking a secured long term profit.

Here is a link to how Tax Certificates work.
Vulture Investing: What You Need To Know Before Bidding For Tax Liens

I am glad these former Canes will be made whole in some part.

Go Canes

I own three houses in Baltimore doing the exact thing!! I'm looking to expand into DC for 2016 and I also plan on growing marijuana legally inside of my DC home.

I'm growing bud in Arcata waiting for Florida and Texas to legalize it. I been thinking of growing in Hagerstown good market over in Maryland. The whole east coast $$$

Sounds like you got your **** planned sir! The problem in DC is you can grow up to 6 mature plants per house, yielding 5/6 ounces per plant. No man can smoke that much by themselves so you have to find creative ways of "off loading".. .

 

[Sonny Long]

Some last names should not be trusted...........Ever!

Rubin, Shapiro, Rothstein, etc.

 

[Gatorhater]

They should have given back to the hood instead of trying to jump into the Gaming business thinking the house always wins. They should have invested in urban redevelopment through rehabbing blighted homes in school zones then renting them out to Section 8 housing, this type of investment yield very low risk long term steady cash flow.

By choosing school zones you eliminate all the potential secondary criminal eliminate that may be lurking on the Section 8 lists since most criminals will not risk doubling or tripling the crime sentence for being in a school zone. Rehabing the homes with Section 8 renters in mind allows for more economical finishes to be used keeping in mind low maintenance durability, very similar to how college dorms are often painted cinder block walls rather than finished sheetrock.

Then the urban real estate portfolio could be supplement by purchasing Tax Certificates again a long term safe investment, because one can never go broke taking a secured long term profit.

Here is a link to how Tax Certificates work.
Vulture Investing: What You Need To Know Before Bidding For Tax Liens

I am glad these former Canes will be made whole in some part.

Go Canes

Can see the SI headline now: "Large group of former Miami Hurricane football players allegedly rent government subsidized homes out to drug users and dealers. NCAA to investigate if there is any connection to current players."

I like your idea about school zones but ANY little thing that touches any Cane gets blow up. Plan Ocho is not as neat and clean as you make it sound. If you think Nevin was bad, wait until you get in bed with the biggest flea infested crooked dog there is, the US Government. The problem with all investments is they take time and attention. You out source that at your own risk. Being a landlord takes a lot of time and effort.

Keep in mind I am talking about a real estate investment portfolio worth millions with the avg housing unit costing $10K-$20K with renovations max cost per unit of $15K. Also hire a qualified property management company that is also bonded. An in regards, to the Tax Certs that would be handled by their financial adviser. The portfolio would be self sustaining by leveraging older properties to get funding for new properties and the best part is HUD will even finance the new properties through various programs. It is not **** money, but is steady and long term wealth building that can be generational while also being a socially responsible member of the community.

Link to HUD multifamily funding
Multifamily Housing - Program Description - HUD

GO Canes

PS: my family and friends have been doing this for years. I don't know if you know this but people from island decent tend to have multiple jobs/ sources of income at the same time. "Got to go to work Mahn"!

I agree with Gatorhater. An NFL pro shouldn't be managing rehab construction projects and being a landlord in addition to his full-time job. Instead just buy property that has a ten year triple-net lease with a very credit worthy corporate tenant like CVS, Wells Fargo, etc. That will be a 4% cap rate, but nothing to do but collect the money every month once the properties are purchased. It's like owning a bond and collecting interest. The next step down in terms of time commitment would be to just buy an broad stork market index fund and collect the 1.8% dividend.

I think you miss the part of Paranos when he counsels to hire a Management Company to lease the rental properties. This way, the players don't manage the properties, they just collect the checks which are mailed monthly or quarterly. The leasing company usually keeps a little escrow from the rents for repairs, so really, you don't have ball players as landlords They won't necessarily have more liability than with the corporate tenants, yet they make a big investment into their communities and schools. Moreover, their accountants do the rental properties paperwork and tax filing, so no, it's not cumbersome at all as you make it.

Risk are everywhere. Real estate has risk - see 2007. Hiring people to manage anything has risk. Hiring someone to handle your MONEY has big risk. There are no sure things. Most athletes have bad history with picking and choosing their advisers. Some are great at it. Usually they had been "handled" their whole life. That makes for lack of self reliance. Stealing from people looking for shortcut to hard work is where con-artist make their money from that smart and the dumb.

 

[Neil]

Can see the SI headline now: "Large group of former Miami Hurricane football players allegedly rent government subsidized homes out to drug users and dealers. NCAA to investigate if there is any connection to current players."

I like your idea about school zones but ANY little thing that touches any Cane gets blow up. Plan Ocho is not as neat and clean as you make it sound. If you think Nevin was bad, wait until you get in bed with the biggest flea infested crooked dog there is, the US Government. The problem with all investments is they take time and attention. You out source that at your own risk. Being a landlord takes a lot of time and effort.

Keep in mind I am talking about a real estate investment portfolio worth millions with the avg housing unit costing $10K-$20K with renovations max cost per unit of $15K. Also hire a qualified property management company that is also bonded. An in regards, to the Tax Certs that would be handled by their financial adviser. The portfolio would be self sustaining by leveraging older properties to get funding for new properties and the best part is HUD will even finance the new properties through various programs. It is not **** money, but is steady and long term wealth building that can be generational while also being a socially responsible member of the community.

Link to HUD multifamily funding
Multifamily Housing - Program Description - HUD

GO Canes

PS: my family and friends have been doing this for years. I don't know if you know this but people from island decent tend to have multiple jobs/ sources of income at the same time. "Got to go to work Mahn"!

I agree with Gatorhater. An NFL pro shouldn't be managing rehab construction projects and being a landlord in addition to his full-time job. Instead just buy property that has a ten year triple-net lease with a very credit worthy corporate tenant like CVS, Wells Fargo, etc. That will be a 4% cap rate, but nothing to do but collect the money every month once the properties are purchased. It's like owning a bond and collecting interest. The next step down in terms of time commitment would be to just buy an broad stork market index fund and collect the 1.8% dividend.

I think you miss the part of Paranos when he counsels to hire a Management Company to lease the rental properties. This way, the players don't manage the properties, they just collect the checks which are mailed monthly or quarterly. The leasing company usually keeps a little escrow from the rents for repairs, so really, you don't have ball players as landlords They won't necessarily have more liability than with the corporate tenants, yet they make a big investment into their communities and schools. Moreover, their accountants do the rental properties paperwork and tax filing, so no, it's not cumbersome at all as you make it.

Risk are everywhere. Real estate has risk - see 2007. Hiring people to manage anything has risk. Hiring someone to handle your MONEY has big risk. There are no sure things. Most athletes have bad history with picking and choosing their advisers. Some are great at it. Usually they had been "handled" their whole life. That makes for lack of self reliance. Stealing from people looking for shortcut to hard work is where con-artist make their money from that smart and the dumb.

That's right. Whether you hire somebody to manage your money or to manage your property, if you aren't paying close attention, then you are asking for trouble. I'm a former CPA married to an MD, so I talk a lot to busy people who let other people manage their money. The MDs are smart people, but they are busy like football players and often get in trouble when they put their money someplace that requires attention.