All Forum Posts by: Hussain Raza

I'm a property owner in Philadelphia who purchased a triplex, only to discover it wasn't zoned for that purpose. As a newcomer to the market, I inherited some challenging tenants and had to deal with a "make safe" violation. Now, I'm trying to apply for a rental license, but the city is requiring me to go through zoning because there's no proof the property was previously used as a multi-unit dwelling.

I'm torn between registering the property as a 2-unit or 3-unit dwelling. For 2 units, I'd use the 1st and 2nd floors. For 3 units, I'd use the basement, 1st floor, and 2nd floor (not 3rd floor, assuming it's a typical 2-3 story building). Is it possible to get approval for 3 units in Northeast Philadelphia?

I've consulted a lawyer who estimates the cost for 2 units to be around $5,000. An expediter I spoke with thinks they can apply for 3 units and estimates the cost to be around $8,500. What's the best course of action?

Will I need a license to rent in Philadelphia? I was asked by the tenants I told them I will give them a lease. Should I go get a license?

@Jon Reed that wasn't something i was actually thinking about. What would you suggest doing? Refinance or something else? What do i tell the bank i am rebuilding and need a loan?

I bought this property for 12k in auction it has two separate apartments (2 different roofs) both are 2 beds 1bath. I rebuild 1 that had a good roof and is renting for $900 roughly spent 32k on fixing it. It was in a very bad shape. The next apartment is in worst shape then the first bad roof and everything inside is very bad too. Got an estimate for 40-45k to fix it all up probably would rent for $700-900. What should i do? I have 15k i can pay right now and then thinking of cash flowing the rest. Ideas? Sorry if this is wrong format first time posting on BiggerPockets. Thanks in advance!