All Forum Posts by: Jacob Ohl

A family memeber and I have been looking at a building in our small downtown area next to a popular hot dog shop/bar.  The asking price is a mere $13,500 for the 2 story building.  So, we are looking to buy cash.

His interests lie in the downstairs, which is essentially a plug and play front for a martial arts school, as it had been one for many years, and the owners are getting older looking to downsize everything.  

My interests lie in the upstairs which boasts enough raw space for 2 good sized apartments after renovation, and essentially creation of the second one from scratch.

We are looking for a way to partner on this venture, but not sure the best way to go about it.  We've considered both creating and operating as separate entities on the upstairs and downstairs.  Any guidance would be greatly appreciated.  

Best!

Hello! I recently bought a duplex in the Suburbs of Philadelphia as my cherry popper.  I live in the downstairs unit and rent the upstairs unit.  I have a few questions surrounding basic bookkeeping.

I did an FHA Mortgage since I did not have enough capital to purchase through my LLC.

Should I create a separate bank account to keep the my tenant's security deposit in?

Can I run things through my LLC as the property management?

I have a hundred other questions, but I guess I really just need a CPA who is involved in real estate investing.

Does anyone have any recommendations for a CPA in the Delaware County, PA area?

Thanks in Advance!