All Forum Posts by: Peter Tverdov

Denise, I was wondering if you could elaborate on this point further. I've seen you mention it in other threads. Maybe you could write a formula that would help all of us figure out (or have a ballpark idea) what the banks minimum acceptable bid is? I know you said the bank minuses out expenses after FMV, well what/who do they pay? lawyer? certain fees? how much? What interest rate do they pay on that money over a year? Etc.

I ask because I am currently evaluating a short sale that is waaaay over priced. I want to offer 15-20% under what FMV is for the property and want to know if that price is in the same ballpark as the banks minimum.

Peel and Stick tiles make all the difference vs. roll on linoleum. The linoleum is so cheap looking I can't stand it if it's in any apartments that I own. P&S works great in older homes with some settlement in the floors. Spend a little bit of money, you'll have a more attractive looking place that good tenants will appreciate.

I can't believe anyone would give him a dime. It's hard enough watching his shows. The over acting is awful. I prefer Flip or Flop (which isn't terrible) or Fixer Upper. 

I know of some people who have been getting 12/2 and 12/3 with 15% down in NJ so shop around. 

Having a rental that cash flows doesn't mean it is a good investment. It's all about percentages. 

You don't need that $169 hammer if you want to spend about an hour or so taking it up yourself. Buy a steel chisel from Lowes or HD $15-$20. You'll spend some more time but it's worth the savings to me. If it's time you are worried about, buy 2 and get a helper. I've broken up and removed kitchen floors in about 90 minutes with a helper.

Threads like these should state the value of the home and what they cash flow for or what you made on the flips. Buying 10 shacks is not impressive to me nor is owning 10 homes that cash flow $100 a month. 

This is just my personal opinion but 5.39% cash on cash return is awful. You can get that return in the stock market, without having to cater to tenants. I don't consider a house unless I can get 15%+ cash on cash return. You should shoot for at least 10%. Housing has a lot more responsibility involved, so the return should be greater. 

I define success as doing everything I can to be the best that I can be. So far I have been very successful.

I highly recommend you just hire a tree guy to grind the stump, it won't be THAT much money. This is coming from someone who was raised by a landscape contractor. If you have never used a machine like that it is dangerous. It's not like laying tile, cutting some wood or painting for the first time.