All Forum Posts by: Peter Tverdov

Very management intensive. We turn down those requests every time. Expect to pay rates like its a vacation property. 

Yes, we personally manage plenty of buildings that are 6 units, 8, 10. Hell, even single family. Just depends on your margins. 

 Google How to get a green card in NJ. There are articles on it. 

Drives me nuts when I see it.

If the seller could actually get those rents...don't ya think they would? You think the renters are stupid and will just walk out the door after paying under market rent for years? The brokers act like the seller is just a charitable individual. Yet I see people buying these properties (a lot of it just 1031 money) and they struggle to tread water for the life of the loan, then sell it again when the loan comes due to the next person who falls for the same trap.

 PMCs will differ but this is a general over view.

Advertising of the unit

Monthly income statements

Showing up for city/state inspections and completing repairs

Move In/Move Out 

Tenant communication

Maintenance/repair coordination

Completing town/state documents as needed

Those are some of the things our company does anyway. Some companies will charge fees for doing inspections, advertising, placing tenants etc. Look on NARPM for property managers in your area. 

Brand new to flipping and you want no oversight on the project from a professional.

Feel bad for whoever buys that flip.

 I have one client like this, always asks us for bids on stuff. Then his contractor does the work. Fine, no problem. We are slammed with construction work anyway.

6-12 months later we are ALWAYS fixing something in that unit from the contractor who did the work. People never learn. 

I would be willing to bet that contractor either doesn't have a license, doesn't have insurance, doesn't have a W9 etc. People compare pricing of some guy in a van to a professional and then complain they're getting ripped off. That's textbook biggerpockets users on here. 

 Wrong. We are not lazy. We use the same vendor(s) because it took several years and sifting through several vendors to find a good vendor who is reliable with good pricing. I literally just had this convo today with a client who was upset we didn't get them 3 bids on a project. I told him HE could get him 3 bids and go to the property 3 different times to save money in his mind (while wasting his time). We have been using the same vendor for nearly a decade who is excellent, fairly priced and does a great job. If you're good in construction you have work coming out of your ears. They don't need your business. 

You guys think we just Google a name, get a quote and hand it to you?

Interesting thread. They manage like 25,000 doors nationwide so they must be doing something right.

Some of the comments about finding a cheap contractor make me roll my eyes. Just so you guys understand (and not defending Evernest here) but there is a difference between a Mom and Pop landlord hiring a guy with no insurance, possibly no ITIN/no SSN who does things half assed to make repairs (and I see this ALL THE TIME) and a professional PM that needs to do things the right way and hires a contractor with insurance, who has a W9, cleans up after himself etc.

Local is usually better than national in my experience with service companies. Just call around, interview a couple if you want and you should be happy.