All Forum Posts by: Nan L.

Thanks Jonathan, I am a member of the REIA.

Update for interested parties - I called L&I - you are able to get rental license but cannot get rental certificate with outstanding code violations. Just in case someone else is in my situation.

slowly is a good way to go. If you have the income, you can purchase property owner occupied for better mortgage rates, live in it for 1 year then purchase another. You can build a ladder as when you show income on property for 2 consecutive years, it's income producing (rather than debt) for mortgage purpose. If you do repairs/maintainance up front and pick the right tenants, there's virtually no work involved.

I think there's "time" available and then there's "motivation". Those who say they don't have time really mean they don't have the motivation.

Documentation is the key. Nanny cam is great idea. Video tape the temperature with date stamp if it's anything lower than 68 degrees (in philly anyway). When making requests, use written formats (email, certified letters,etc.). Since it violates the lease agreement, you have the right to move out with security deposit. Everyone thinks court is expensive but file a small claim in municipal court - you can represent yourself and since you have all the documents, even if landlord shows, you will win your security deposit back.

Closing on 2 properties in 1 week in Philadelphia. One has outstanding code violations classified as "Non-Hazardous" by L&I. Can I still get a Philadelphia Rental License aka Housing Inspection License before making the repairs? I'm going to make the repairs but I'm purchasing tenant occupied and want to comply ASAP first.

Any Philly investors here that can provide any insight? Appreciate it.