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All Forum Posts by: Eric Greenberg

Eric Greenberg has started 3 posts and replied 607 times.

Post: Transitional house in Philadelphia

Eric GreenbergPosted
  • Investor
  • Philadelphia, PA
  • Posts 617
  • Votes 430
Quote from @Dayna K hicks:

it should say it is now rented to a non profit

Nice work Dayna! What area of the city is this in? Would love to hear about the numbers for this property 

Post: New Investor Needs Guidance

Eric GreenbergPosted
  • Investor
  • Philadelphia, PA
  • Posts 617
  • Votes 430

Also know that your team may change with time. Most of us have had to change the folks we work with as we either pivot strategies or they arent living up to our expectations. 

Post: First Property - Multifamily owner occupy

Eric GreenbergPosted
  • Investor
  • Philadelphia, PA
  • Posts 617
  • Votes 430
Quote from @Ryston Watts:

Andrew/ Eric - Thanks and really appreciate the insight. 

Andrew - when re-running my numbers last night, that's the exact analysis I was calculating. I guess I was trying to convince myself otherwise. 

Eric - This is why i defaulted here, don't really know where to go and who to talk to. Figured the forum would be a good starting point. 

Thanks both!


 Send me a DM I know a person who actively still invests there. I’m sure he could give you some insight. 

On top of that check out Philadelphia landlords connect on Facebook. There are alot more local folks for detailed Philly questions

Post: Help with owner-occupied duplex tax filing

Eric GreenbergPosted
  • Investor
  • Philadelphia, PA
  • Posts 617
  • Votes 430

I would personally pay a CPA and learn from them. Then if you feel ready do it the next year

Post: First Property - Multifamily owner occupy

Eric GreenbergPosted
  • Investor
  • Philadelphia, PA
  • Posts 617
  • Votes 430

I live close to but dont invest in the Temple area. I would recommend you talk to a number of Temple investors before making that play. My take away in the last few years has been its a very tough space and very seasonal. 

Quote from @Eric Samuels:
Quote from @Eric Greenberg:

Hi Eric,

what is the sqft? Did you check to see if there are 3 rental licenses?

Zoning for RM-1

Any building with an RM designation can be used as a residence: for one family or as a multi-unit building. However, there are limits to how small each unit can be. In an RM-1 building, the minimum unit size varies: for the first 1,440 feet of square footage, you have to use at least 360 sq. ft. of lot area for the units. If your building is bigger, you have to use 480 sq. ft. of lot area per unit.

https://www.phila.gov/media/20220909084529/ZONING-QUICK-GUID...


 Hi Eric,

It does look to be RM-1 and the rental license does say it's 3 units so I think I'm set, but how do you personally confirm sqft? I know on property.phila.gov you can see any property's sqft but how trusting is that? For this one it says:

Lot Size: 1,088 sqft

Improvement Area: 3,015 sq ft

Frontage: 16 ft

Which do you use to confirm in your deal analysis?

Thanks,

Ill send you a message 

Post: 2 BR/ 1BA house in 19122

Eric GreenbergPosted
  • Investor
  • Philadelphia, PA
  • Posts 617
  • Votes 430

Hi Kate, I may be interested depending on price/condition/location in 19122. Ill send a DM. 

Post: New investor looking to connect + invest in Philly area!

Eric GreenbergPosted
  • Investor
  • Philadelphia, PA
  • Posts 617
  • Votes 430

Hi @Val T.

Happy to discuss my journey so far with LTR/MTRs in philly. We live & invest in the in Olde & East Kensington / Fishtown area mostly. 

Hi Eric,

what is the sqft? Did you check to see if there are 3 rental licenses?

Zoning for RM-1

Any building with an RM designation can be used as a residence: for one family or as a multi-unit building. However, there are limits to how small each unit can be. In an RM-1 building, the minimum unit size varies: for the first 1,440 feet of square footage, you have to use at least 360 sq. ft. of lot area for the units. If your building is bigger, you have to use 480 sq. ft. of lot area per unit.

https://www.phila.gov/media/20220909084529/ZONING-QUICK-GUID...

Post: New Agent in Philly Looking to Network

Eric GreenbergPosted
  • Investor
  • Philadelphia, PA
  • Posts 617
  • Votes 430

Check out Philly Landlords Connect on FB for some local REI folks