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All Forum Posts by: Peter Bardou

Peter Bardou has started 11 posts and replied 30 times.

Post: Syracuse Landscaper recommendation

Peter BardouPosted
  • Investor
  • Syracuse, NY
  • Posts 30
  • Votes 3

Check out Landscapes West located in Syracuse, I use them! Ask for John

Post: Using VENMO for collecting rental income

Peter BardouPosted
  • Investor
  • Syracuse, NY
  • Posts 30
  • Votes 3

Hey everyone!


Just curious, is anyone using Venmo, or any other app based payment collection service? I have been using Venmo for the past year and find it extremely easy to collect rents. Anyone having similiar experiences? Does anyone see a downfall collecting rent this way? Its free to send and receive money

Post: How do these numbers look?

Peter BardouPosted
  • Investor
  • Syracuse, NY
  • Posts 30
  • Votes 3

Sorry Unit 2 & 3 are 1/1's

Post: How do these numbers look?

Peter BardouPosted
  • Investor
  • Syracuse, NY
  • Posts 30
  • Votes 3

@John Hickey I included those in the expenses number, I knew this would be a long post so I tried to make the math easy for everyone.

I know 100% for a fact the 4/3 unit is undervalued by about $500-$600 when compared to units that are being rented in the area. I wonder if there is value in converting the house back to single family, and renting the house out per room. The utilities are about $550/month. If I were to convert back to single family and rent per room... 6 bedrooms x $500 each, and pass along the utilities to the tenants, I instantly create an extra $1000/month in cash flow. There are many rooms for rent in this college town that are similar in price.

Post: How do these numbers look?

Peter BardouPosted
  • Investor
  • Syracuse, NY
  • Posts 30
  • Votes 3

ey everyone! Would love some advice on this potential deal.

A women I work with is looking to unload her 3 unit in a college town. I know the property is very well taken care of. Her husband is a highly respected contractor in the area and has don't all of the maintenance and repairs. The unit would most likely end up being rented to college students. here are the details:

Unit 1: 4/3

Unit 2: 2/1

Unit 3: 2/1

Current rent roll is $2500

Estimated expenses including vacancy(5%) maintenance(10%) and capex(5%) are: $2300

If possible I would like to roll in PM if the math makes sense

A few details I think make a huge difference:

1 meter on the house, so utilities are included in the rents

2 HVAC units, 1 is for the 4/3 and the other is for the other units

Porch needs some minor structural repairs.

The house needs interior paint, and some minor repairs

She hasn't raised rents in 6 years, and I know they are extremely undervalued. She has never run the house like a business. The house needs interior paint, and some minor repairs but, From the research I have done, I think the rent roll can easily be increased to $3000-$3500.

She is interested in seller financing and holding a 5 year note at 6.5%. She is asking $135k, with a $20k down payment. I personally think I can offer $120k with a $10k-15k down payment and she would bite. She listed the house for sale in 2014 for $150k and had no takers. Comps in the area are upwards of $180k...

Rubber roof in 2003

HVAC's probably have 10 years left.

The unit can be converted back into a single family home.

What am I missing here?!

Post: Syracuse NY investors???

Peter BardouPosted
  • Investor
  • Syracuse, NY
  • Posts 30
  • Votes 3

@Tom Chen I'll cya there! 

Post: Upstate NY College town Deal Analysis?! HELP!!

Peter BardouPosted
  • Investor
  • Syracuse, NY
  • Posts 30
  • Votes 3

I forgot to add, the house can be converted to a single family house pretty easily. so it would be a 6/5 with 3 kitchens.

Post: Upstate NY College town Deal Analysis?! HELP!!

Peter BardouPosted
  • Investor
  • Syracuse, NY
  • Posts 30
  • Votes 3

Hey everyone! Would love some advice on this potential deal.

A women I work with is looking to unload her 3 unit in a college town. I know the property is very well taken care of. Her husband is a highly respected contractor in the area and has don't all of the maintenance and repairs.  The unit would most likely end up being rented to college students. here are the details:

Unit 1: 4/3

Unit 2: 2/1

Unit 3: 2/1

Current rent roll is $2500

Estimated expenses including vacancy(5%) maintenance(10%) and capex(5%) are: $2300

If possible I would like to roll in PM if the math makes sense

A few details I think make a huge difference:

1 meter on the house, so utilities are included in the rents

2 HVAC units, 1 is for the 4/3 and the other is for the other units

Porch needs some minor structural repairs.

The house needs interior paint, and some minor repairs

She hasn't raised rents in 6 years, and I know they are extremely undervalued. She has never run the house like a business. The house needs interior paint, and some minor repairs but, From the research I have done, I think the rent roll can easily be increased to $3000-$3500.

She is interested in seller financing and holding a 5 year note at 6.5%. She is asking $135k, with a $20k down payment. I personally think I can offer $120k with a $10k-15k down payment and she would bite. She listed the house for sale in 2014 for $150k and had no takers. Comps in the area are upwards of $180k...

Rubber roof in 2003

HVAC's probably have 10 years left.

What am I missing here?!

Post: Syracuse NY investors???

Peter BardouPosted
  • Investor
  • Syracuse, NY
  • Posts 30
  • Votes 3

Hey everyone! I am also in Syracuse, NY. I am relatively new to investing. I househacked my first duplex, which I turned into the purchase of my single family home that my family now resides in.

I am currently looking for my next deal and may have found it through someone at work, who is nearing retirement and wants to get rid of their 3 unit.

I am basing my search in the Solvay area, and that's where my duplex is, and rents are very good in that area due to the fact you can advertise Solvay Electric for the tenants utilities. I am looking in the Solvay area, as well as the near Westside currently.

I have been driving for dollars and calling for rent signs to see if landlords are willing to sell but have found no such luck as of yet.

Its great to see there are some Syracuse peeps in here!! Anyone going to the REI meeting on the 12th?

Post: First post ever! Looking for advice

Peter BardouPosted
  • Investor
  • Syracuse, NY
  • Posts 30
  • Votes 3

Hey everyone!

I absolutely love this community and all of the insight you all bring to each and every post! Here is my story

in 2012, my wife and i bought a two family(2-2b 1b flats) home in Syracuse, NY for 92k. We put about 5k into it. We moved to the downstairs apartment and rented out the top for $725. We paid for the house like it was a single family home, and stashed the rental income away in a separate account. I forgot to mention, this house also came with a separate tax parceled lot that was vacant and next door(we just sold that lots for 12.5k!

fast forward to 2016, my wife and i now had a daughter and were expecting another. Because we had been stashing away for a few years we had the money set aside from the rental income as well as some additional savings to go ahead and buy a single family to move our family into. We bought a 140k house a few miles away that we now live in. We put about 20k into our new home before we moved in. 

We now rent the two family for 875 up, and 725 down. expenses on the house are about $850/m(mortgage, taxes, maintenance)

My question, or thought is, we are strapped for cash right now because of the new home and renovations, but i really want to get another multiunit. I am still very new to all of this, but the funding right now would be the biggest hurdle. I am in a good market for rents, and i feel like i hit a homerun with the deal on our first house. I want to buy and hold, using the BRRR strategy. Would anyone recommend a HELOC on the multiunit? stashing that cash from the HELOC into an account for a few months to season, and trying to find a good deal? Any and all thoughts are appreciated!