All Forum Posts by: Joe Marcum

The group is called the Bluegrass Real Estate Investors Group on Facebook.  They meet tonight at 6:00, the meeting is in a different location each month, so I'd join the Facebook group to keep up with them.  

April 19th at 6pm.
This months meeting will be at Lexington Express Cabinets.
2428 Palumbo Dr. Suite 110

John Walton will be hosting and showcasing his business. We will have a short discussion and brain storming session about coordinating efforts to improve targeted streets or sections of neighborhoods.  The goal is for targeted residential re-development.
We have a few members that have experience in projects like this right here in Lexington. I am certain we can learn a few things from them!!  Join us for an networking and an opportunity to grow your business as we improve our city.

Mark your calendar for the next few meetings.
5/24, 6/21, 7/19

The local REIA is called the Bluegrass Real Estate Investors Group, they have a FaceBook page. The next meeting is April 19. The location floats around, so check their page for details. It's a networking meeting that usually has 50-75 people and is free to join and attend. I suggest you check it out!

It's open to all, feel free to join the group and come to the meeting Tuesday! The multi's were a package deal from an investor that was downsizing. The area is not great, but seems better than most questionable areas in Lexington and the cashflow is excellent.

Welcome to BP! I just closed on 5 multi unit buildings in Frankfort (2 fourplexes, 2 triplexes and a duplex), and the numbers are better on the 4plexes. Doesn't mean the others aren't good, just that the 4's are better :) This is our first deal in Frankfort, so we're still getting our feet under us there. The closest REIA is probably going to be in Lexington as @James Wilcox mentioned. It's called the Bluegrass Real Estate Investor:

https://www.facebook.com/groups/BluegrassREI/

The next meeting is March 22 @ 6:30.

I think there is a landlord association in Frankfort, though I've never been to a meeting as we just started there. 

The meeting is at 6:30 at Belle's Cocktail House - 152 Market St in Lexington.

Lexington Wealth Builders has been 'mothballed' for lack of a better term. A few of the legacy members got together to start a new group; it's the one @James Wilcox and I posted about and is named Bluegrass Real Estate Investors. It may not show up as it is a closed Facebook group. I sent you a colleague request.

Join the local REIA, they meet once a month and it's free. It's called the Bluegrass Real Estate Investors and the next meetup is March 22.

There are usually about 75 or so people that show up. It's a meet and greet and there are all types of real estate people there.

Delia Crumbaker is who I would recommend.  I'm not sure if she is active here, but she is an active member of the Bluegrass Real Estate Investor's Group - 

https://www.facebook.com/groups/BluegrassREI/

She is a VERY active broker\agent, has a few buy and hold rentals and has been doing quite a few fix and flips recently.

-Joe

Check out the local REIA and landlord associations as well. There is one that does monthly meet and greets and has no fees. Next meeting is March 22. The facebook group for it is Bluegrass Real Estate Investors

https://www.facebook.com/groups/BluegrassREI/

There is another group of landlords that meets the second Tuesday of every month at 7:00 p.m. at Golden Corral, New Circle Rd., Lexington, Ky

Regards,

Joe

I am not a lawyer, and seeking legal counsel is my first advice.  That said, if the deal is solid enough, I'd move forward with it, as evictions will be part of the business.  If you can try to get the seller to evict that would be the best for you, though it may delay the closing.

Frankfort has a 3 day notice for nonpayment, and the forcible detainer\eviction process is supposed to be much shorter than some other counties.

You should have also have some sort of tenant estoppel in place as part of the sale that outlines what the tenant owes and is owed, the terms of the leases, etc.

http://www.propertymetrics.com/blog/2014/12/16/wha...