All Forum Posts by: Jessica Stern

Hi everyone! I am based in New York City but invest in Philadelphia. I’m hosting my second happy hour event in Philly on Friday May 17, at Love City Brewery! Hope to see you there, all investors and landlords welcome!

3 Votes

Philadelphia, Pennsylvania

Hello! I just found myself in need of a Philadelphia GC as soon as possible. Before I do a deep dive and cast a wide net on Angi, could anyone recommend a general contractor who could start work on a 3 bedroom house in Point Breeze next week? Would love to give a trusted GC some business. It’s not a full gut but still a significant rehab. Let me know, Thank you!

0 Votes

Philadelphia, Pennsylvania

Quote from @Chris Picciurro:

Good afternoon - a single-member LLC (SMLLC) is a disregarded entity for federal tax purposes. Typically the SMLLC obtains a separate federal identification number and sets up a bank account. Is this a rental license or tax issue?

Rental license!

0 Votes

Philadelphia, Pennsylvania

Quote from @Alan Asriants:

Hey Jessica, I actually host one in the area every couple months or so. I am having my next one this upcoming month.

When and where? Is there an email list for it?

1 Vote

Philadelphia, Pennsylvania

Quote from @David M.:

@Jessica Stern

Well, I don't think you can... Tried looking quickly at the Philly licensing website, but honeslty quit.

If the LLC is the Title holder, it needs to register, correct? Then, apply for an EIN from the Fed IRS for your LLC. While as a single member LLC it is disregarded for tax filing purposes, you can still get an EIN because in some to many circumstances people need it --- just not normally for real estate investments.

Remember, the LLC is its own legal entity (in PA). Similar to a person, but just without a heart beat. So, you need to treat it as such, especially to maintain its corporate veil.

Hope that helps. Happy to chat. Good luck.

Super helpful. Thank you!

0 Votes

Philadelphia, Pennsylvania

Would y’all be interested in a Philly real estate happy hour? Cocktails and mocktails. No pitching, just socializing and networking? I’d love to lead the charge and make this happen! “Like” this post or message me and let me know :)

4 Votes

Philadelphia, Pennsylvania

Hello, I have an investment property in Philly; it's a BRRRR. It's been renovated and will be rented out November 1, but I'd rather do the cash out refi sooner rather than later.

Any lenders do 80% cash out refi with no seasoning period?

3 Votes

Philadelphia, Pennsylvania

hello! I am a Philadelphia investor, and need to add my LLC as a disregarded entity to my tax ID. This is so I can get my rental license. Any idea how to do this?

Thank you!

0 Votes

Philadelphia, Pennsylvania

All Forum Posts by: Jessica Stern

Jessica Stern has started 11 posts and replied 31 times.

Post: Philadelphia Investor/landlord happy hour!

Post: Philadelphia Investor/landlord happy hour!

Post: Philadelphia Investor/landlord happy hour!

Post: General Contractor needed in South Philly

Post: LLC as disregarded entity

Post: Philadelphia real estate happy hour

Post: LLC as disregarded entity

Post: Philadelphia real estate happy hour

Post: No seasoning period for cash out refi?

Post: LLC as disregarded entity