All Forum Posts by: Peter Tverdov
Peter Tverdov has started 34 posts and replied 1656 times.
Post: Tenant Tore Down Other Tenants American Flag Tossed On Ground
- Real Estate Broker
- New Brunswick, NJ
- Posts 1,696
- Votes 2,161
Ask them why they hate America.
Then remind them of the Lease and post a notice to cease and encourage the tenant to put the flag back up.
Post: Questions I have with changing property management companies
- Real Estate Broker
- New Brunswick, NJ
- Posts 1,696
- Votes 2,161
@Ken Miller what is causing you to switch companies out of curiosity?
Post: Property Mgr. percentage of repairs?
- Real Estate Broker
- New Brunswick, NJ
- Posts 1,696
- Votes 2,161
We don't do it (yet) but a lot of companies do. This is not uncommon OP.
Post: Why Do Investors Keep Overpaying On Properties?
- Real Estate Broker
- New Brunswick, NJ
- Posts 1,696
- Votes 2,161
Combo of foreign money, interest rates at zero and 1031 exchange. People have to put their money somewhere. What's better? 0% in the bank or 5% in a building that will likely appreciate in value every year on top of making you 5%?
Post: You're a Realtor, You Must Be Super Busy Right Now
- Real Estate Broker
- New Brunswick, NJ
- Posts 1,696
- Votes 2,161
Originally posted by @Joshua Moyer:
Thanks for sharing all of this information Kevin. This jives with what I've been seeing in looking for a SFH for myself in the Butler/Bloomingdale/Kinnelon area. Houses are going over asking prices in mere days. The multi-family space in Hawthorne is seeking highest and best offers within 5 days. I've had to remind my wife and myself that we'll purchase a home when the dollar amount makes sense. We'll keep writing offers, and I'm sure we'll keep getting beat out.
With foreclosures and evictions on what now seems an indefinite hold, what does that say about the market? When foreclosures can finally be executed, will there be a glut of REO properties for sale? Will this drive prices down?
In the inflationary environment we seem to be getting in to, would purchasing a home 10% over asking price be a wise choice if this wave continues, or if we see inflation rise significantly?
I'm not stuck in Analysis Paralysis, because we've been writing offers frequently - but at what point do you accept the change in your mental calculus to increase your budget?
I know someone who is thinking of selling their 3 bedroom in Haskel. That's in the same area, I think he was thinking 300k. DM me if you're interested, he's been thinking about it.
Post: Apply for new zoning vs. running an illegal unit
- Real Estate Broker
- New Brunswick, NJ
- Posts 1,696
- Votes 2,161
The town will likely tell you to tear it out before closing. Do things right the first time.
Post: Doing Background Checks in NJ During Courthouse Shutdown
- Real Estate Broker
- New Brunswick, NJ
- Posts 1,696
- Votes 2,161
Yes we use websites to conduct background checks. Just did this one on a potential tenant this past weekend.
Post: Cozy or Zillow for property management? Pros & Cons?
- Real Estate Broker
- New Brunswick, NJ
- Posts 1,696
- Votes 2,161
I own a property management company in New Jersey. We used Cozy up to about 70 units under management. We only stopped because we were switching to Appfolio. Cozy is great to collect rent, no complaints.
Post: Tenants keep submitting work orders
- Real Estate Broker
- New Brunswick, NJ
- Posts 1,696
- Votes 2,161
We get tenants like that every now and then. We usually set them straight that the house is not a hotel and not everything will be perfect. Legit repairs we take care of obviously.
Post: How much should I value the purchase of a property management company?
- Real Estate Broker
- New Brunswick, NJ
- Posts 1,696
- Votes 2,161
@Steve Rozenberg when purchasing a portfolio do you guys pay cash or use bank financing, owner financing? Curious if you could expand on the different ways you have bought contracts or businesses.
Funny looking back on this thread thinking I could value 10 doors. Well, I'm at 100 now so I feel better about valuing my business but I am now thinking about purchasing doors to add to the business.