All Forum Posts by: Erik Hitzelberger

Chuck,

Nice-looking home.  I am currently working on a house with the Fuller Center in Shawnee.  There are certainly some great quality old homes in the area.  Quick question... I assume the 'ancient tile' you scraped in the basement was asbestos.  Who did he work for you?  I am looking for a reasonably-priced, qualified company.

Thanks!

@Brie Schmidt - This can be a really fun way to learn and to make deals.  You can setup the meeting however you think best suits the group, but we had 5 "Sharks" who reviewed each deal.  These were experienced investors with a relatively diverse background. We tried to get the presenter to think of other ways to put it together, ask questions they hadn't asked, and educate the audience on why something was a good or bad deal.  At least 4 properties were sold after the meeting.  <--All deals are always done at the bar :)

Good Luck!!  

@Clay Smith - did you talk to Mike Fallot?

For the love of everything holy, please do not use Z to get home values! If you are base your deals on the Zest your investing career will be incredibly short. Use RECENT sales (last 3-6 months) of SIMILAR (style, size, finish, etc) homes. In most of Louisville, this is pretty easy. You'll find more variation in Clifton, Highlands, Anchorage, etc. You can find good data on REALTOR.com as the feed is direct from the MLS. Better yet, find an experienced agent to help you.

Now that that's out of the way... Congratulations on getting started!! The local real estate investor association (KREIA) meets the 4th Sunday of every month.  It's a great place to learn, network, and find deals.  I'm not sure if I can put the website on here, but if you put .com behind the name you just might get there :)

Do you plan on wholesaling, flipping, buy and hold ???   

What services are you looking for? I'm not sure what you mean by upfront fees.  For closings, you pay at the time if the transaction.  For evictions and collections, you pay the court costs prior to the court date. 

Harry Borders at Borders and Borders.  Michelle Rawn at Rawn Law Firm and Hank Schildknect.   I use all 3. They have different specialties, but they are all excellent. 

We had an impromptu meeting in Louisville this past weekend at Drakes in the Summit.  This seemed to work we'll as there is plenty of space and an informal atmosphere.   Based on the responses we got, several people have conflicts with children's sporting events on Sundays. Monday may be easier. 

The Grove, Province, Bellamy, and whatever the new place at Eastern and Crittendon is called will certainly attract their fair share of students.  However, the price, communal living issues,  safety concerns, etc will drive many others away.  Really nice dorm-living is still dorm-living.  As @Michael Seeker mentioned, we aren't really competing for the same tenants anyway.  

While campus growth has slowed as the tail end of Gen-Y graduates, there is still an increased demand for college education.  The Grove holds less than 2% of the total campus enrollment and the last time I checked the sum of the campus-affliated housing units was around 24%.  (This may need to be verified again).  In short, the demand isn't going down yet.  

I am definitely looking to increase the number of homes that I have in the area.    

Looking forward to seeing those of you who can make it tonight.  @Clay Smith I was just down there Thursday. Where do you work? 

There have been a couple of threads about a Louisville area meetup. In the spirit of 'Just Do It', @Bryan Snider and I will organize an event this Sunday (8/24) at 6:00p. We will meet at Drake's in the Summit. (3921 Summit Plaza Dr). Please comment below or reply back if you plan to make it.

If you are unable to attend, the monthly KREIA meeting is this week (Thursday 8/28) at Woodhaven Country Club. We will be having a Shark Tank style meeting where individuals can present deals for a panel of experienced investors to evaluate. It's a great opportunity to learn and to possibly pick up a deal yourself.