All Forum Posts by: Peter Tverdov

Very familiar with the area. Irvington has the state police in the town it's so bad. Newark is rough in plenty of areas and EO has bars over the toll booth slots on the parkway. They're places you can make money but I'm not doing it. Good luck.

If they have stayed for a while and were great, I usually buy them a bottle of Grey Goose to celebrate their new place. They go ballistic every time.

I hope you own a gun.

Not kidding.

I will never do a tub surround. I always do subway tile or some sort of tile. Makes it stand out so much for a rental. Kitchen and bathrooms are what sell houses. My theory is they are what fill rentals as well. My bathrooms usually get showered (pun intended) with compliments. Doesn't cost that much more either.

Not gonna lie...seems like an awful lot of work and very complicated and frankly a ton of risk. Juggling 20 houses and it's only worth 2m total? But I need to sell 14 of them first and raise money and....good luck. If I buy 3-4 houses in my area its 2m lol. 

It means if you put 15% down. They will play "bank" for 2 years at 4.5% interest. Then I am guessing you need to sell or refinance unless you can pay an entire mortgage in 2 years when the term is up.

Do the FHA. Include seller concessions to cover your closing costs. Then you can do a 203k loan that allows you to finance your rehab on an FHA property. Buy a 2-4 unit building, do this. Profit.

Don't let people tell you that you can't do it now. That's essentially what I did in a hot market and 2 years later I am sitting on a ton of equity thanks to forced appreciation.

No one is going to hand you anything though...

@Brie Schmidt what are the commercial loan terms that you were getting? DP? Tenor and rate?

Thanks @Christopher Phillips I might try giving one of the buyers a call. I actually spent some time today on the county website and found two recorded Deeds from the sales. (Neither of which showed up on the MLS as a sale because both transactions were done without a real estate agent) The third transaction also did not use an agent. I reached out to my title company to see what they can find. If I can't get it from them, I might just call the buyer directly as you suggested. I think these ideas are the best course of action from researching this site. Hotpads, Zillow, etc doesn't compare for accuracy like the public records do.

Between searching this site and your response. It seems like the best approach is to look in my local county records or use a title company to do it for me. Then gather the deeds and present them to the appraiser. I think I will try this approach.