All Forum Posts by: Peter Tverdov

When I first started our property management business we managed 70 doors with spreadsheets and using apartments.com to collect rent. Don't overthink it. 

 What is discussed on the weekly Zoom's? I'm curious.

We don't pay owner bills like water, taxes or mortgage for this very reason. Just do it yourself IMO. 

We collect all rent. Take our fee, get reimbursed for paying our vendors and send the client the disbursement between the 6th and 15th of the month. 

We do inspections twice a year on properties we manage. What we do is make sure fire extinguisher is filled, smoke detectors are where they should be. Noticeable lease violations? Like a pitbull, someone sleeping in the living room. Is the property going to attract vermin? Major issues on exterior (like facia that is loose from a storm) or inside (like mold in the bathroom from them taking hot showers).

Stuff like that. In October we check all heating units to make sure the boilers fire on. In and out in 5 minutes per apartment. That's all you need to do and it's more than enough IMO. 

NARPM Broker/Owner event in March. I wanted to do the NAR broker event in Arizona but it's the following week :( Someone else suggested the Best Ever event to me but I might limit it to one event per year.

Kitchens and bathrooms sell houses and rent them. Curb appeal helps a lot too. If rooms are small you can't do anything about that, but you can WOW people in the two rooms they will spend a lot of time in. 

We try to limit our contact with the owner. Not because we are hiding anything but because they hire us to not know about the drama or nitty gritty in managing a property. If there is a repair over $500 we give them a call for approval, or if we want to discuss a potential tenant that we're 50/50 on, or if we want to game plan on their investing goals for the following year. Otherwise we try to treat it so the owner feels like they own a share of QQQ or VOO and not a rental property. 

Linden is a very blue collar town but the real estate has been on fire in that town. Insane appreciation, bidding wars left and right. It's proximity to the train line helps a lot. 

@Tushar P. nice point that you raise but why couldn't someone take the gains from their syndication and either roll it into another syndication or roll it into a 1031 exchange for their own commercial property or 2-4 unit portfolio. I don't see why you couldn't do that.