All Forum Posts by: Eric Greenberg

I agree with needing someone who knows the area. 19134 is very diverse.  Parts have been changing drastically in the last few years. As a blanket statement for someone out of town I would not look at the letter streets yet i.e. anything on the west side of Kensington Ave.  There has been some interesting developments going on up in Harrowgate.

Yeah I went to 1401 JFK Blvd on
a Thursday around lunch time.  I agree, I was amazed how quick and helpful they were. 

I was just going through this process to acquire a Philadelphia Tax Account Number.  When using my social for the sole proprietor it had my name incorrectly inputted in the online form (which you cannot change) so I had to go in person.  

Anyways, the process was much easier in person. They walked me through everything and I was able to get my Philadelphia Tax Account Number, Commerical Activity Liscense, and Housing inspection license / Rental liscense in an hour and a half.  

This is my first post and first investment property!  I am finalizing up a deal for a house with a vacant property adjacent to it.  Both properties are with the same owner but with separate tax IDs/deeds in Philadelphia.  My mortgage lender did not realize that the properties have different deeds until right now.  My goal is to eventually sell the lot and rent the house. My lender's first thought was that I could not lump both properties together on one contract but wasn't 100% sure.  Is that a true statement?  Do other banks have blanket mortgages for multiple properties owned by the same owner?  

If I need to split the properties into two contracts, I will not be able to get a mortgage for the lot.  I could purchase the lot for $1 and the house would be the only thing on the mortgage.  The issue then becomes the house most likely will not appraise for the total selling price and I will have to come up with the price delta.  Is there any option out there I am missing?  

Thanks in advance!