All Forum Posts by: Peter Tverdov

No chance. As a realtor you have a fiduciary duty to your client. Wholesalers are basically the total opposite of that. 

All over the country they try to squeeze absentee owners. It is what it is and should be factored in when you invest in real estate. I once had my taxes go from 14 to 32k because of an addition I built and rental income increased 80%.

I understand how value add works but pushing a 4 cap to a 6 cap when rates are rising...i'm sorry, I'm not seeing it aside from the tax benefits which are starting to sunset. You guys are going to be happy selling a 6 cap in 3 years (if everything goes right pushing rents higher) if rates are 6%? 

FWIW Latchel seems like a service for PM companies, not Mom and Pop investors. We are considering it as we manage over 200 doors. 

I've never understood people on this forum buying rentals to make $100 $200 a month or even the little shacks. Any large expense wipes you out.

OP, sell them, do a 1031 and roll it into a larger property that better cashflows. JMO. 

Just curious what some of you syndicators plan to do where you have been buying 3, 4, 5  cap "value add" deals. If rates move against you, what is the plan? I have no dog in the fight but aside from the 100% bonus depreciation play on apartment buildings I have been scratching my head who/why people are buying 4 caps. 

In NJ you need cause to evict. Just wanting them out or the month to month lease expiring is not enough. They need to be late on rent habitually or violating the lease in some way.

Ask for units delivered vacant or a notice to quit to be served but the smart ones won't go anywhere.

Good luck

Not tenant responsibility. Call the dryer vent cleaning company and ask for their advice. That's what I would do. My guess is it has something to do with the vent intself, maybe all the twists and turns are reducing air flow or it's a problem with the dryers themselves. 

Run fast from Finance of America. I did one hard money loan with them and the underwriting was a disgrace. Just search their name on here to see what I am talking about.

There are portfolio lenders out there (national ones like Lima) and then local ones. You just need to call around. I might need them in another year or 2 hopefully. 

Good. Wholesalers job is to steal equity from owners who do not know the true value of their house. They pretend to be a good guy/girl because they can "pay cash" when in reality, they're quickly flipping the contract to someone else and sometimes completely screwing the end user in the process. I get into this argument all the time. It's illegal. If it was okay, wholesalers wouldn't always try to tip toe around the issue of fiduciary responsibility. 

There is a reason they created a real estate license years ago.