All Forum Posts by: Peter Tverdov

Vendors you need a deep roster because they come and go. Then some of them start hiking prices because they think you're made out of money. Make sure they have insurance and are licensed (if required) we have gotten more strict with that. If they want cash, take a hike. If they cannot be paid net 30 or net 15 bare minimum take a hike.

Owners: If they walk, talk and act like a slumlord, they are. Lose them and lose them quickly. We cut owners all the time who do this or ones who scream at me, our staff or just call us up to crap on us if something wasn't done how they wanted it. It's too stressful of a job to not have an owner be your biggest fan.

Tenants: Be fair but firm. They don't stay in the Plaza hotel, house will never be perfect but also treat them well. If they are late, file eviction without hesitation. 

It's a fun business but ever evolving and you get your *** kicked from tenants, owners and then sometimes the town inspectors.

I have had some cleaning services be $175 and some $750 for a cleaning, depends on what they're cleaning...post move out cleanings I have had some over $1000 people left it in such poor shape.

Keep in mind it's hard to maintain the threshold limit a PMA has. Think about it, cleaning team is there cleaning, your PM and their staff are doing 100 other things, they can't check on the vendor and say hey have we hit $300 yet?

The PM needs to let the vendors know upfront what the thresholds are but it might not be an outrageous charge.

Get a property under contract first other wise you're going to sound like a tire kicker and they won't be too interested in discussing the services. 

Pay it but if it happens again it's on then because you just cleared their line...unless its tree roots or the main line has a rare blockage. 

This might come off as mean, but try to earn more money so you do not need FHA. It's absolutely brutal to be an FHA buyer now. I don't envy you or your agent trying to help. Try to get enough downpayment so you can do conventional.

Also people were drawn in to thinking you can buy a rental with max leverage and cash flow like crazy, that was never normal. In the old days (before I was working) people usually had to put a much larger amount down and it seems we are going back to that for now. 

I used to share your views and since I became a realtor I always try to put my client first. I quickly learned to tell clients not to buy houses we were touring because they were just poor. They know to trust me and that I have their best interest in mind (because I do and if they succeed they will sell, buy more etc) but yes plenty out there just tell their FHA buyer to pay 70k over asking, waive everything and then get a check and don't really care if they cannot afford the mortgage or overpaid.

 Then that buyer doesn't buy the house. If you can't come up with enough cash to pay 2-3% more you probably shouldn't be buying at that price point. Too many buyers in America now, I'm not worried about demand rn if someone cannot perform under contract. 

 I'll call CNN. BRB

 See I think now people like this get hurt because if you come to the listing agent, you need to come to an agreement that they are getting paid to represent you even though it's their listing. Otherwise they don't work for you. It might work on a deal with no offers or interest but even then, they're not going to advise you in a positive way. 

 I am the #1 agent in my town. I don't get paid the same as the rookies. Just like your favorite NFL player doesn't. I don't understand why this concept is hard to grasp but this is BP. The land of DIYers.