All Forum Posts by: Drew Perkins

kreia is huge group.  www.kreia.com has monthly meetings that are very well attended.  Normally something there for everyone and are good opportunities to network.

It's a great market if you own property!  Unfortunately the appetite for those assets is huge and has created some less than ideal investment opportunities for acquisition at this point.  

@Troy Luster Welcome to bp and to Kentucky!  I'm in Louisville and am real estate investor.  Not completely familiar with the Fort Knox real estate market but if I can help you in any way don't hesitate to reach out.

Republic Bank is running a special now. 90% LTV 3.99% fixed for 10 years on 15 year amortization. I've always used Greg Bromley or Ryan Paxton. Stockyards is another good local lender, try David Krebs.

@Brandon Ray for sure.  I'm around if you'd like to grab coffee or lunch sometime.   Feel free to send me a PM when you are ready to chat.  Thanks

Hey Brandon, welcome!  I'm from Dunwoody, GA and my Dad grew up in Marietta but I have been here for 16 years.  Small world.  Louisville has a pretty steady market (although hot right now) and is good for investing.  I'm a Real Estate Broker and investor (locally and in Atlanta).  As you go through the process, let me know if you need anything.  I'd be happy to help anyway I can and I always enjoy talking real estate!

@Scott O'Halloran Small banks look at a number of items when underwriting a rental portfolio:

1. The debt/service coverage of the project

2.  The global debt/service coverage of the companies portfolio

3. Value of the collateral (LTV, what is their exit strategy should it become non-performing)

3. Personal Financial Position of those involved (LIQUIDITY is huge!, Credit, Personal debt/service, etc.)

From working as someone that approved these types of deals at a local bank, I'll say that no two deals are the same.   Depending on the banks appetite for loans, overall balance sheet, recent history or losses with investors, these things can change throughout the year.

I would mail her the 10 day letter (or whatever is your states protocol) when you can to put the pressure on.  Work with her and try to collect late payments (since this is first instance) but at least be ready to evict on the 21st if you aren't made whole.

@Jay Leisten sounds like a good property and should be great cashflow.  Nice work for deal #1!

Ok, River City does a lot of these deals reguarly.  The manger out at J-town is good, Brian Gohmann (I think).  If you want to try some other folks you could call David Krebs and Stockyards Bank or even try David Buchanan at Republic Bank.  Good luck!