All Forum Posts by: Agatha Oliveira

@Stuart Udis Thanks, I understand the possibilities. I am not looking to make major improvements, but I am looking to enter and secure it. I just don't want to do that until the deed is recorded. Do you have any anecdotes on the timing for it to be recorded?

To my understanding, the deed should still be recorded before that as this happens as part of the recording process. This was also confirmed when I went there to submit the required documents, but they couldn't give me a proper timeline on when it would happen claiming that they were backed up. This is why I was looking for anecdotal notes. 

Additionally, the right of redemption only applies if the property was owner occupied during the 90 days prior to the sale and this is not the case here. 

Hello,

I was wondering if anyone has participated in the Philadelphia tax foreclosure auction recently and how long it has taken you to receive the deed? It has now been 3 months that the auction has been won and the deed has still not been issued. I have been waiting for that before entering the property, but concerned about doing that without the appropriate documents being issued. 

 Thank you Drew! And there is no problem that this document is saying that I have the permission but it is also signed by me? 

Thanks! Just so that I understand - The Operating Agreement does list who owns the LLC (at least this is my case). So at such point they would have the ownership information from the Operating agreement and the my personal contact, address, etc from my ID. So I am not sure of what purpose using the registered agent served as all the information would be made available?

I use an LLC to do the Property management for my rental properties. To keep my privacy, and my name and address off the public records, I used a registered agent for the LLC.

For the first time this year I am using a realtor to rent this property and she asked me for the formation documents, which I provided. But then she came back saying she needed a document that showed that I am allowed to sign for the LLC. She says that it won't be shared, but of course if it is for their records, it is also to protect them in case there is litigation. The only document I see that could be shared is the Operation Agreement.

Has anyone here faced this or knows if there are any implications to sharing the Operation Agreement? Would this information being out there make it more likely for me to be linked to LLC and thus for anyone to try to "pierce it"?

Disclaimer: I did ask this to the lawyer who formed my LLC but he has been slow to reply so I thought to ask this group. I do not have reasons to think that anyone will sue me, but given that we don't know what people may come up with, I would like to make their case less appealing if they do try.

Hello,

I was looking over data for a tax lien sale for Phiadelphia, PA. I noticed one property where it seems that someone got a single mortgage with a legal description containing several properties. One of those properties is being sold by the city due to missed real estate taxes. 

I am curious to know what happens in this case when the new owner receives the deed. Would the bank go after them? Are they responsible for any or part of the mortgage (as it doesn't seem to be paid off)?
 

Does anyone own property and self manage using a LLC?

I just moved to that having in the past always used PMs. I hired someone to do some minor repair and was planning to have this person invoice me as the owner directly and get paid by my personal account, although the work was sourced/coordinated by my LLC. However, this person is saying he needs my LLC's information for IRS purposes. I am a bit confused if that is true or if it is only if he was to be paid by the LLC. I would love to hear how others have done this.

Thanks. The challenge is that - from what I see - when you have the lease by the room, it is considered a rooming house...

I am wondering if anyone has experience renting out a house by the room without making it a boarding house. The setup seems to be that all tenants are still in the lease and responsible for the entirety of the apartment, but you did the work of finding them.

I am wondering if this has worked for anyone, and what their tenants thought when it came time to sign the lease. 

Background: I have a property that I purchased and renovated and ended up spending a few more money than expected. So I am re-evaluating strategies to make it work. By chance when submitting some papers in the city, the teller commented on how the address was in a good part of the town and her friend would love to move in. However, with the house being 3 BR, it would be outside of her price range. There aren't any listings for roommates or room rentals for the area. Nonetheless, this got me thinking if I can have more success in doing a "roommate matching service" for my property.