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Updated about 1 year ago,

User Stats

18
Posts
17
Votes
Stephanie Cortez
  • Investor
  • Philadelphia
17
Votes |
18
Posts

Ideas for an Illegal triplex in Philly?

Stephanie Cortez
  • Investor
  • Philadelphia
Posted

I have made many mistakes but have also had lots of luck. Right now I have two single family homes and one duplex that I thought was a triplex. I didn't do my research and found out the basement was not a legal unit. I have this property rented and make about 1k profit. I bought it turn key at roughly 300k. I dont know if this was the right move but its in a booming area in West Philly. Getting a rental license for the basement isn't possible and I manage all my properties with a full time corporate job. I want to invest in real estate and leave the rat race. I'm open to suggestions on what to do next. Sell it to maybe make some profit? Or does anyone know how realistic it is to turn a duplex property into a triplex in Philly? Can a lawyer help with this? Thoughts? 

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