All Forum Posts by: JJ De La Llera

Hello, I am looking for a creative way to structure the purchase of a multifamily apartment complex in central KY. 

The out of state owner is looking to offload this apartment complex where they have overspent on capital expense items in the last 3 years due to natural disasters. NOI is low compared to where they want to be in terms of purchase price and NOI does not justify the price. Property has low maintenance ratio due to the recent improvements done at the property (common areas and many of the interior of the units). They have many approved applications in their pipeline for tenants and occupancy is at 92%. They have been increasing rents but I am expecting to receive rent roll and T-12 soon.

Wonder any creative ways to structure a deal in this situation where seller is wanting a higher price than what NOI brings in.

Thank you!
 

Hello fellow Investors,

I wonder if anyone has implemented the "rent-by-the-bedroom" strategy in Lexington, KY?

I am looking to implement this strategy in 40508 zip code I wanted to see if someone has any experience.

Thank you in advance,

JJ.

Thank you guys for the feedback @Lina Bibikov, @Jonathan Pliszka and @Christopher Leet! Very helpful and I will use the most similar comps to determine my outcome. 

I am looking into a deal for a SFH in Lexington and when calculating the ARV I see there is a potential for an additional room, which could help increase the cash flow. Current house is 2bed-1bath with 1,280 sqft. Not sure if the investment for the extra bedroom alone would make sense or if a bathroom would be more of a priority to make it 2-2 instead of 3-1.

Does anyone know what is the most desirable layout in Lexington, KY area?

Does anyone have any experience with building an extra room in Lexington? 

Any tips will be greatly appreciated. 

Thank you!

Hello Michael nice to meet you, JJ here from Lexington. I am a new investor as well looking to purchase my first SFR through BRRRR. I have lived here for about 8 years and it is a very attractive place for investors, very healthy for real estate investment due to the growth, job diversity, higher than average income earnings, etc. What kind of properties are you looking to invest in? I would love to connect!

Congrats Nicholas! Looks like numbers have worked well for you on this deal. Hope we can connect soon as I am a new investor in the Lexington area. Cheers! 

Hello Everyone, very glad I came across this! My name is JJ and I have lived in the Lexington, KY area for 8 years now. Currently looking to start investing in the area as well and the tips everyone has shared here are phenomenal. Very looking forward to start networking with you all! 

Hello Peter welcome to Lexingtonl! This is a great city! I am new to real estate investing and to this community and I am looking for my first property here in the area. I am focused primarily in single family rental properties through BRRRR. I have lived in Lexington for 8 years and I know the area pretty well. If you end up coming down here and if you're interested, I would be happy to help you know this town a bit more anyway I can.