All Forum Posts by: Adolphus Fletcher

@Chris Seveney

I do want to minimize liability considering I intended to have multiple properties under one LLC capped at 10 just because somewhere along the line I was told this is good practice. But I have also seen investors have an LLC per each property. I am unsure which is right for that purpose or if it really matters but I am sure it's all situational.

Sorry, it might have been a crass assumption that they may have some experience in the matter but I am new to wholesaling myself and curious what others may think that have done it before. At least that was my initial thought process anyway. I did think to change the discussion category after the fact but alas it was too late. I would like to know more about the role of zoning attorneys and the potential costs of involving them in organizing and submitting the proposal to the appropriate departments. In this particular case, the property is a vacant lot and is currently zoned RSA-5. Sounds to me from what you're saying I would need a zoning variance. If I could get an estimate on the time and cost for the variance, the next step would be to engage an architect or developer. I like to look at each component of the process on an itemized level first so that when I do work with a developer I can have my own reference for all the bundled costs associated with the build proposal. 

I was told by an associate of mine that they were charged an additional $15,000 at closing due to a "title fee" on top of the ones you listed. I'm unsure of how it was calculated or if it may have been an assignment fee that was misinterpreted on their part but they were the seller's agent. 

What biz formation is best for multifamily investing? Like LLC, S-Corp, C-Corp, etc. I know you guys might not be authorized to give out legal advice but I figure it would be best to get opinions from those really doing it. I'm curious about the proper legal structure and business types one should use to minimize personal liability as well as remain fairly anonymous to the general public.

Hello all, I am new to investing in Philly. From what I understand title companies are mandatory to settle in PA. I don't have a problem with this and I would like some recommendations if you have any! However, I also hear that they have varying fees across the board that can eat into the seller's take-home. Is it customary that they have their process displayed online or in a pricing guide so I can shop around?

I was wondering what the process is to get a lot rezoned from a single-family to a multifamily (triplex preferred) in the Temple University area of Pennsylvania. Someone suggested going for a student housing rezoning permit but I don't want it to take up a huge portion of the time of my contract or cost exorbitant amounts of money.. But if it boosts the value of the property because we acquired these permits I could see it as worth it.  Any insight from wholesalers or investors in this area would be much appreciated.

 Locked in my calendar thank you!

 why was there a return for the purchase of the property?

 is this similar to bird dogging and what is the difference between this and wholesaling?

 Dude made an account and closed it in 2 days, yikes.