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All Forum Posts by: Account Closed

Account Closed has started 4 posts and replied 137 times.

Post: zoning permit in Philadelphia

Account ClosedPosted
  • Philadelphia, PA
  • Posts 140
  • Votes 37
Originally posted by @Irfan Raza:

We already got one rental license. Do you think it is going to be a problem is we just report rental incomes from both units to IRS?

Post: zoning permit in Philadelphia

Account ClosedPosted
  • Philadelphia, PA
  • Posts 140
  • Votes 37
Originally posted by @Irfan Raza:

@Lana Lee in my experience the zoning archive did not allow me to be grandfathered into a multifamily. If buildings have been recently used as multifamily with proper paperwork they can be grandfathered in. If they have been vacant you will have to pull permits to get it up to speed only if the current zoning code allows. If the current zoning code does not allow you will have to go through the zoning processs. I would suggest you get a lawyer. It is required for anyone owning through a corporate entity like an llc, but even still it is good to have.

Post: zoning permit in Philadelphia

Account ClosedPosted
  • Philadelphia, PA
  • Posts 140
  • Votes 37

Sounds like a whole lot of money and i wonder if the lawyers charge for successful outcome or for hours of working they are putting into it?

Post: zoning permit in Philadelphia

Account ClosedPosted
  • Philadelphia, PA
  • Posts 140
  • Votes 37

I used the link you provided and it says  No documents exit in archive. What does that tell you? 

And why are they building a whole street of the same type of duplexes and then turn around and zone them as RSA-3, which is for single family???

Post: zoning permit in Philadelphia

Account ClosedPosted
  • Philadelphia, PA
  • Posts 140
  • Votes 37

I

Post: Should I Stay or Should I Go Now? If I Stay There Will Be Trouble

Account ClosedPosted
  • Philadelphia, PA
  • Posts 140
  • Votes 37

Wow, Swanny. You've created an impressive hurricane of discussion, which seems like not going to wind down any time soon. And that's great, because me and other followers learning so much from you and other participants. You might as well start writing a book. 

Post: Should I Stay or Should I Go Now? If I Stay There Will Be Trouble

Account ClosedPosted
  • Philadelphia, PA
  • Posts 140
  • Votes 37

Just checked Fishtown. Multyfalimy there is out of my price range. I am interested only in by and hold multyfalimy at this time, something closer to NE Philadelphia, where I live. 

Post: Should I Stay or Should I Go Now? If I Stay There Will Be Trouble

Account ClosedPosted
  • Philadelphia, PA
  • Posts 140
  • Votes 37

Thank you, Swanny, if I can call you that. When is the best time to call you.

Post: Should I Stay or Should I Go Now? If I Stay There Will Be Trouble

Account ClosedPosted
  • Philadelphia, PA
  • Posts 140
  • Votes 37

Could you Michael, give me exect zipcods in Ohio you're investing in. Just curious and want to look them up on realtor.com and compare to our prices. 

And you are so right about the need to connect to as many people as possible. My husband and I came to America from the same country as Ben Leybovich and didn't know a single person here. We are trying  to learn as much as possible about the markets and establish relationships.  But we already started our RE journey. Bought two duplexes in Philadelphia. You are so right about the pricey property that doesn't bring a lot of chash flow.

Maybe you could recommend a good agent in Ohio, who works with invertors.

Thank you 

Svetlana

Post: Should I Stay or Should I Go Now? If I Stay There Will Be Trouble

Account ClosedPosted
  • Philadelphia, PA
  • Posts 140
  • Votes 37

The RE market here in Philadelphia is very expensive. And multifamily is so competitive. Every good deal is being snached by the cash buyers the first day it's on the market. How did you start investing in out of state? How did you learn the market? Do you have any friends or partners there?