KPI Lending Portfolio Update: Sep 2017
Welcome to our new monthly portfolio update. The KPI Lending portfolio spans 10 states and is funded by Kevin and Kiri, along with family and friends desiring diversification outside the stock market with solid returns. Having completed 25 loans since inception in December 2014, we are currently managing 13 open loans and actively looking for new ones.
Our primary focus:
- Non-owner occupied properties
- Residential (1-4 units)
- Short-term (1-2 years)
- Desirable neighborhoods (A, B, and C quality properties)
Below are three highlights from our current inventory:
New Investment (Rehab)
- We began our first Minneapolis, MN deal on August 24th. This is a $240K property with $40K of repairs using a first position loan and paying 8% annualized return. Total timeline is estimated at six months.
- This is a packaged deal of seven single family homes in Dallas, TX, which were pre-sold before construction completed. The 7th home is closing this month. Total sales price of the seven homes is $1.2M.
Growing Rental Portfolio
- The first of 38 loans to require foreclosure due to borrower's partnership dissolution, this turnkey rental property in Birmingham, AL has a market value of $108K. We funded this deal with a $62K loan and after $3K in litigation and $1.5K in taxes, we are currently sitting on roughly $35K in equity or 53% return on investment (ROI). Prior to foreclosure, this first position loan was paying 8% and now as a rental, the cash on cash return is 13%. Our exit strategy is to continue to hold until a 1031 exchange is identified.
Want To Learn More?
If you're interested in knowing more about private lending, these projects or investing with us, please feel free to reach out. We strongly feel investing is a team sport.
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Kevin + Kiri