All Forum Posts by: James Beam

Forcht will do 20 years for an LLC should you ever need financing for a rental

Thanks for the replies guys... Will give them both a try!

Hello everyone!

I am an investor located in Louisville, KY and currently have 4 commercial rentals in Fern Creek (40291)  and Okolona (40219).    Aside from that, I have been in the restaurant business for over 30 years.  My family and I have owned restaurant(s) here in Louisville since 1982.   Recently, I have begun using restaurant proceeds to fund my real estate purchases.    I have just recently purchased the real estate that one of my restaurants is located after about 12 years there.

I've done some rehab work on the current rentals that I own but consider myself to be still very much a novice.   I'm very handy however, and have an Electrical Engineering degree from the University of Louisville, Speed Scientific School.   

One of my goals is to begin to assemble a team consisting of contractors, agents, property managers, as well as getting to know some other investors in my area.  

I am interested in doing some fix and flips as well as purchasing rentals.   I grew up in 40220 (Hikes Point), 40228 (Highview) and have businesses in 40291 (Fern Creek), 40219 (Okolona), and 40229 (J-Town).  So I am very familiar with those areas and it's my understanding that those areas can be pretty good rental areas?   However, I know very little of any areas the west of I65 although I know a few people who have done well there.

Just wanted to introduce myself and noticed that there seemed to be a sizable group of investors in Louisville here on Biggerpockets.  I've been lurking on this web site for several YEARS and never really took the plunge.   Look forward to talking to fellow Louisville investors!

Best Regards,

James Beam