All Forum Posts by: Raphael Collazo

I'm happy to hear that the planning commission decided to move forward with zoning change for the One Park Development. I'm excited to see how this development will impact the area economically:

https://www.greaterlouisville.com/general/statement-on-metro-planning-commission-vote-on-one-park/

I have a question I'd like to ask the investor community at large. Is there an easier way to find the contact information a commercial property owned by an LLC or other corporate entity? Currently, if I want to identify the owner of a property, I plug the address into our local "Property Valuation Assessor" (PVA) site. If the owner of the property is a business, I then have to go to the "Secretary of State" website to identify who the operating members are. Sometimes, the only person referenced on the SOS website is the attorney who acts as the "registered agent" of the business. This is where my search often stagnates. 

I know a lot of investors use skip tracing services and I've explored using it in my own commercial real estate practice. Has anyone used skip tracing to identify corporately owned commercial real estate? Any feedback would be much appreciated.

All the best,

I definitely see both sides. I'm a big fan of how easy it is to get around in Louisville. There's nothing better than being within a 30 minute drive of anywhere in the city and having limited traffic to boot. I also love the fact that Louisville has been able to maintain it's small town feel even though we have over 1 million people in the metro area. I've been to many cities around the country and I can say without a doubt it's a rare phenomena. However, I'm also cognizant of the "talent drain" Louisville has struggled with due to it's lack of a central business district. Many young professionals enjoy being "in the action" and although this development will not completely change the dynamic, it will definitely help shift it in the right direction. Over time, urban development can help Louisville attract top companies who rely on young, bright and driven professionals to turn the wheels of their organization.

The "One park" development near Cherokee Park in Irish Hill has been a contentious issue over the last few years. Critics say it's too big for the area while supporters state it's a project common in other rapidly growing cities such as Nashville and Atlanta. I'm of the belief that the new development would be a boon to the area and the city. What are your thoughts?

https://www.bizjournals.com/lo...

Hey @Yonah Weiss!

Thanks for the clarification. I was unaware of the price discrepancy and I appreciate the feedback. I also had not heard of algorithm-based studies. Thanks @Lee Ripma for sharing that insight! 

All the best,
  

Hey  @Jacob Michal!

Great question. However, as mentioned in the previous comments, the answer is "it depends". Cost segregation studies afford investors the opportunity to accelerate the depreciation of their real estate assets by separating the various components of the building and deprecating them on shorter schedules. Generally, a commercial building can be depreciated over 39 years. However, if a cost segregation study is conducted, you may be able to break out the various components of the building including flooring, HVAC system, plumbing, electrical etc. and depreciate them on a shorter timeline (5, 7, 10, 15 years). If the value of these components is significant enough, shortening the depreciation timeline can save you a TON of money in taxes on the front-end of your ownership.

Although cost segregation studies can offer significant tax savings, they're also extremely expensive. A typical cost segregation study and written report can cost anywhere between $10,000 and $25,000 or more. Therefore, you need to determine if eating that upfront cost will save you at least that amount in taxes over the course of your ownership of the property. As a rule of thumb, you'll only want to conduct a cost segregation study if the value of your property is high enough to warrant it. Hope this helps.

All the best,

The Louisville Real Estate Investor Meet Up group is for aspiring, beginning and full-time real estate investors interested in networking with other like-minded individuals. During our monthly meetings, we share ideas, learn from one another and host speakers who talk about subjects related to real estate investment.

In this meeting, Ray Shuman and Hampton Scurlock, will talk about their experiences using "creative financing" and explain how other investors can use these techniques to accelerate their investing results. After their presentation, we'll open up the floor for a Q&A session. The event begins at 6:30 pm and they'll start their presentation around 7:30 pm. Come join us for a night of networking, learning and enjoyment as we utilize the great space provided to us by The Manhattan Project!

@Nicole Dlugosz we usually post information about our meetups on BiggerPockets and www.meetup.com. 

Here's the link to our BiggerPockets posting for our September meeting: 

https://www.biggerpockets.com/forums/521/topics/749478-september-meeting-how-to-become-a-successful-wholesaler?page=1#p4409378

We have a solid group of people who attend and we always have great speakers who share unique insights with the group. Looking forward to seeing you at the next one!

All the best,

Hey @Dave Meyer!

It would be great to see more commercial real estate content on topics besides just investing in apartment complexes, trailer parks and storage facilities. Don't get me wrong, I love multifamily as an asset class and I personally invest in it myself. However, there are also many other real estate investment opportunities in office, retail, mixed use, special use, industrial and development that don't get talked about a lot on the forums. Would love to see more engagement on those topics.

All the best,

Hey @Nicole Dlugosz,

Welcome to Louisville! It's a great town and I'm confident you'll enjoy living here. I believe the best way to prepare yourself to invest in real estate is to educate yourself on the subject. Real estate investing requires patience, diligence, and knowledge of how to identify a worthwhile investment. To start, I recommend checking out the following books:

1. "The Book On Rental Property Investing" by Brandon Turner
2. "What Every Real Estate Investor Needs to Know About Cash Flow... And 36 Other Key Financial Measures" by Frank Gallinelli
3. "The Millionaire Real Estate Investor" by Gary Keller and Jay Papasan
4. "Hold: How to Find, Buy and Rent Houses for Wealth" by Steve Chader and Jennice Doty
5. "Set for Life" by Scott Trench

These books will give you a solid foundation for you to begin building your real estate investment portfolio. As for networking with other investors, have you looked into attending a K.R.I.E.A event? It's biggest real estate investing organization in town. At their monthly meetings, they host excellent speakers who talk about various real estate investing topics. They also host events throughout the month and provide perks to members including discounts for purchases at local businesses, on-site learning experiences (L.O.T.S), happy hours, etc.

Also, @Luke Neubauer and I host a free monthly meetup at the Manhattan Project on Frankfort ave. As part of the meetup, we invite speakers to talk about topics related to real estate investment and network with other like-minded investors. We usually have a great mix of beginner and experienced investors who attend. It may be a great opportunity for you to make some connections with people in the area who are making moves. Hope this helps.

All the best,