Wholesaling business questions

5 Replies

Hey folks!  I have a couple of questions regarding the business of wholesaling in Philadelphia.  

1. Can I run this business out of my apartment in an apartment building?  

2. Will I have to check zoning laws at all?

3. Do I need to register myself with the city (Philly) or state (Pennsylvania Pa)?

4. I currently have an LLC set up and will be doing all my business through that. I realize now that I didn't need it, but since its already formed, I might as well use it.

5. My girlfriend brings up another point.  I am technically not on the lease for this apartment.  Will this present any problems?  

I want to make sure I have all my ducks in a row before actually transacting anything.

This post has been removed.

Originally posted by @Mark Redmann :

Hey folks!  I have a couple of questions regarding the business of wholesaling in Philadelphia.  

1. Can I run this business out of my apartment in an apartment building?  

2. Will I have to check zoning laws at all?

3. Do I need to register myself with the city (Philly) or state (Pennsylvania Pa)?

4. I currently have an LLC set up and will be doing all my business through that. I realize now that I didn't need it, but since its already formed, I might as well use it.

5. My girlfriend brings up another point.  I am technically not on the lease for this apartment.  Will this present any problems?  

I want to make sure I have all my ducks in a row before actually transacting anything.

Wow, I think you are worrying about the wrong things. A home office is fine, you probably can't deduct from your taxes if you aren't on the lease, but as a group of landlords admitting you are occupying an apartment without being on the lease is kinda um, weird. Check with your city to see what businesses need to be licensed, but I doubt it. If you have an LLC and an EIN you are probably registered in the state.

I think you'd better worry about your girlfriend. When you make all of this overnight money, she is going to start getting ideas...

Originally posted by @Joseph Ball :

I think you'd better worry about your girlfriend. When you make all of this overnight money, she is going to start getting ideas...

 she already has ideas!!   

It certainly isn't overnight though.  I've been working on this stuff for some time now, and not to mention the money involved with marketing!!  

All these questions I posted are questions she asked me and are what she is worried about.  Im worrying about finding motivated sellers and getting a REAL DEAL!!

Then you had better come across with some deals (money) pretty soon, or she is going to get some OTHER ideas! She might need a new pair of shoes!

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