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All Forum Posts by: Peter Tverdov

Peter Tverdov has started 34 posts and replied 1648 times.

Post: Is Seller Financing Really Effective?

Peter Tverdov
Posted
  • Real Estate Broker
  • New Brunswick, NJ
  • Posts 1,688
  • Votes 2,147

I would do it every single time if I could. Closing takes 5 minutes and is 3 sheets of paper. The hard part is explaining it to people and convincing them. They think you're trying to take something from them while in the end they actually make more money and don't take a capital gains hit all at once. I even "refinanced" my seller carry loan and went from a 30 to a 15 year with a 5 year balloon.

So after 6 years of owning this property I will have a 10 year note left. Amazing. 

Post: Standing/walkout balcony ideas

Peter Tverdov
Posted
  • Real Estate Broker
  • New Brunswick, NJ
  • Posts 1,688
  • Votes 2,147

WTH! Why did he change it like that without saying anything to you? 

Post: Need help. Brainstorming session. PM wants to quit due to crime

Peter Tverdov
Posted
  • Real Estate Broker
  • New Brunswick, NJ
  • Posts 1,688
  • Votes 2,147

This is the exact reason we turn down properties in certain areas. The amount of time and stress these properties suck up you cannot even put a price on. That's why the ROI is high because landlords don't factor in time value.

We manage two 3 families right next to each other where any time I visit, homeless people are passed out drunk on the steps and have likely defecated on the side of the house. One of these buildings we completely gut rehabbed (still finishing up) and they tried to break in once, threw a brick through a window and set the back on fire in addition to me having to call the police likely 2 dozen times in the past year to tell these people to scram.

Does that sound like it's worth my time? Am I making money on those as a PM? Hell No.

Post: How to manage the managers when repairs aren't getting done

Peter Tverdov
Posted
  • Real Estate Broker
  • New Brunswick, NJ
  • Posts 1,688
  • Votes 2,147

Obviously I don't have the full story here but as a property manager I would suggest patience. There are labor shortages all over the country and sometimes it's hard to get people out to make repairs. Especially low hanging fruit like toilet flappers, sealing a window, etc. 

Post: How many agents also have property maintenance companies?

Peter Tverdov
Posted
  • Real Estate Broker
  • New Brunswick, NJ
  • Posts 1,688
  • Votes 2,147

We manage about 200 doors. Ironically, I basically built that business first and then opened the brokerage to start selling houses. Selling houses is soooo much easier than PM and better money too. 

Post: No Permits - Buyer Will Be Responsible if Sold As-Is?

Peter Tverdov
Posted
  • Real Estate Broker
  • New Brunswick, NJ
  • Posts 1,688
  • Votes 2,147

It would be the buyers responsibility to cure and that would likely be baked into their offer price and should be baked into your listing price as well. Sometimes you just need backdated permits (although I don't know why a GC would do that) or they'll make you remove it. I've seen both. 

Post: Realistically most investors won’t replace all income W/ cashflow

Peter Tverdov
Posted
  • Real Estate Broker
  • New Brunswick, NJ
  • Posts 1,688
  • Votes 2,147

It can be done and you don't need to be leveraged to your eye balls (BRRRR method).

Post: Tenant screening and property management

Peter Tverdov
Posted
  • Real Estate Broker
  • New Brunswick, NJ
  • Posts 1,688
  • Votes 2,147

Amazing that you have friends/family nearby willing to work for free. I would imagine that will get old to them fast. 

Post: Rental Properties in Hudson County/Essex County

Peter Tverdov
Posted
  • Real Estate Broker
  • New Brunswick, NJ
  • Posts 1,688
  • Votes 2,147

In those counties for under 300k your only option is really Newark or maybe a really dilapidated area of JC. Taxes crush ROI in those counties.

Post: Worth getting your license to be your own agent?

Peter Tverdov
Posted
  • Real Estate Broker
  • New Brunswick, NJ
  • Posts 1,688
  • Votes 2,147

I'm a broker. IMO you need to do AT LEAST 1 deal a year for it to be worth it or you'll be underwater on fees, dues, MLS access etc.