All Forum Posts by: Sebastian Bennett

@Cormac Lonergan I don't believe personally investing should be used to qualify an accountant as long as they understand the nuances of real estate from a tax perspective. In terms of a referral, you will be better served sharing a bit more about your portfolio and tax needs. If you have a large portfolio, perhaps a big 5 type firm will be necessary whereas if you are just getting started, a solo practitioner may be all that's required. If you are seeking more of a solo or smaller tax firm, I would be curious who is recommended because that's something I am looking for as well.

I am very optimistic the new administration will improve the city. There's a number of large developments in the works that will continue to reshape the University City and Center City neighborhoods. Landlord Tenant laws are challenging but if you invest in the better neighborhoods, you are less likely to run into the issues landlords customarily face in the low income areas of the city.

I don't care to spend my time researching you. Yes, I have not purchased any real estate yet. I made one LP investment. Who cares? I am here to learn and network. I still find it odd you cannot state you own or do not own the properties listed on your profile? Are you afraid of misrepresenting yourself to investors who already gave you money? Its very strange you cannot anwer such a simple question. BTW, your post about single family vs. multi-family is as amateur as it gets. 

@Justin Goodin It's not a matter of proving anything. I just find it odd you can't bring yourself to say you do or do not own certain properties. @Melanie P. Kudos to you for calling this out. There's no reason to mislead anyone on this website.

@Justin Goodin Why can't you answer the simple question you've been asked numerous times. You post about these properties so it's clearly relevant. Do you own the properties you represent to be yours on your BP profile? It's a yes or no question....

I only have $50,000 of liquidity I can comfortably invest in real estate and after taking inventory, concluded the types of assets that were available were not where I wanted to invest. I connected with a developer based in Wilmington who is taking a property through entitlements and was looking for some bridge equity while the permitting was completed. I am an LP investor where my ownership interest is greater than the true value of the membership interest, so the collateral is solid. Meanwhile, the GP has the ability to purchase my interest prior to development for an agreed upon valuation. Important to note, I am provided full access to all of the meetings and pre-development functions to grow my knowledge base while I am getting my personal financials in better shape to purchase properties I view as better long term investments.  I want to know if there are other ways I can use limited access to capital to help expediate my growth without paying for guru type get rich quick schemes?

@Dutch Mendenhall I appreciate your willingness to roll up your sleeves and communicate through these forums, but you never answered the valuation question concerning Pomona.

@Yechiel W. Philadelphia has a number of fundamentals that make the city attractive to investments between the stable employer base and proximity to both NYC and DC. I agree the crime is an issue, but I am hopeful the new Mayor can help clean up the city. The Kenney administration was a complete disaster on top of the obstacles many urban centers experienced during and after the pandemic. I would certainly bet on Philadelphia, but as @Alan Asriants mentioned, its really neighborhood specific. 

@Justin Goodin You attack anyone who questions or criticizes what you write on these forums but never provide a counter argument or constructive responses. Why don't you explain to us why @Stuart Udis is wrong? Not to mention, you duck out whenever someone questions whether you own the assets you list on your profile page. Isn't that right  @Melanie P. ? You can't hide behind the fact you don't see the messages judging by how quick you are the respond to any criticism. Why do you run away when you are asked point blank if you own the buildings you claim to own? Also, pulled this article from one of @Stuart Udis BP profile page listed projects. Seems to have some experience....
Mt. Airy development plan addresses community concerns, adds affordable housing | The Chestnut Hill Local

 

If you connect with an JV equity that's not compatible, would appreciate an introduction!