All Forum Posts by: Kenneth C.

Hello,

I close on a 1000 sq. ft. lot this week. I've been conversing with several architects over the past several months while we work through issues with the city and the parcel's title (iykyk). My intention initially was to maximize the cash flow and build a triplex. However, it seems the most feasible option would be to build a duplex. With that in mind, I initially was basing my construction cost on the footprint of the lot (i.e., $160.00 * 1000 Sq. Ft). Even with a higher per square footage charge that I'm using, I've been told that isn't the best way to estimate your cost. It was suggested to me that a more accurate way is to base it on the square footage of the proposed building. Do you all have any insight on this?

Looking forward to your responses!

Cheers!

@Gerald Knott

I'm unable to get a business license for a new entity the I created due to an issue associated with my tax id. I have a meeting with L&I on Tuesday, so I expect to have this resolved. I'll keep this thread updated.

BP Community,

I'm looking for some assistance with working with L&I and the City of Philadelphia. In particular, I need assistance opening up a new entity and getting clarification re: the use of an EIN and/or SS# in association with the tax id.

Looking forward to any feedback and referrals that you all can provide.

Regards,

KC

@Marie Kyle Thank you very much for your insight and the detail that you provided. I actually started the process shortly after receiving the judgement in my favor. This post will definitely be helpful for other landlords that will likely have to go through the process for the first time.

Regards,

Ken

Thank you @Yuriy Skripnichenko and @Andrew K. This is uncharted territory for me, and yet an invaluable experience.

Hello Everyone!

I recently received an order (in my favor) from a judge in a landlord tenant dispute here in Philadelphia. I was granted immediate possession of the property but no lock out until July 31, 2021. In the event that the tenant still doesn't leave, what is the next course of action that I can take? Do I need to get the sheriff involved, or can I proceed with turning off the utilities effective that date? I understand that every jurisdiction is different, but what has your experience been when evicting a bad tenant?

Ken

Excellent information everyone. All of the supplemental questions that I had are being answered. Thank you very much!

@Stephanie P. Thank you very much for the feedback. 

BP Community:

I would like to get some feedback from you all. I'm exploring the option of refinancing several commercial loans that I have and engaged a mortgage broker. Actually, the broker was referred to me. My initial thoughts are/were to continue to build direct relationships with the banks, but due to time constraints the broker could perform the leg work of identifying banks to use vs. me doing that work. As I pondered over this scenario, whether I use the broker or not, I would still be building a relationship with the banks. The only caveat being that the broker will get a fee (which is fine).

Your thoughts on my logic above?

This is pretty darn good!