KPI Lending Portfolio Update: Nov 2017
We continue to see strength in the housing sub markets we lend in. With processes, relationships and teams KPI Lending has built around the country, our highlights this month are:
- The KPI Lending portfolio spans 10 states and is funded by Kevin and Kiri, along with select family and friends desiring diversification outside the stock market with solid returns.
- We completed three loans (among a total of 28 since inception in December 2014) and entered into two new loans in Tampa, FL.
- We currently manage 12 open loans and are actively looking for more.
Our primary focus:
- Non-owner occupied properties
- Residential (1-4 units)
- Short-term (1-2 years)
- Desirable neighborhoods (A, B, and C quality properties)
We partner with landlords seasoning their newly acquired rental properties (after rehab), professional rehabbers and select small businesses.
Below are three highlights from our current inventory:
New Investment (Rehab)
- Because of our long standing relationship with one of our borrowers in Tampa, FL who we've done over 10 deals with, we secured a loan against a property with him for $46K. In less than five months, he bought, rehabbed, listed and sold that property for $170K. He liked this arrangement so much that when he bought another house across the street one week later, he chose us as his private lender.
Seasoning of commercial property loan
- Our borrower in Bradenton, FL is a maritime company which rescues stranded boating passengers at seas. He bought this great property, fixed it up over a year ago, and he began seasoning his loan for almost 1 year on his waterfront property when his initial private lender became ill and needed to cash out of their position quickly. They had heard of KPI Lending's reputation of delivering on time at a reasonable interest rate and a few days later, we entered into this loan. All payments have been on time for last 7 months and in only a few more months, he'll be able to refinance us out for a personal conventional loan.
Seasoning of Rehab Loan
- Our borrower in San Antonio, TX experienced some terrible thunderstorms during their rehab. This resulted in exposed parts of the house become water damaged. Even so, she was able to complete the repairs, rent the property, season the loan for an additional year then refinance us out with sufficient profit to spare. This is a perfect example of the caliber of borrowers/ partners with whom we choose to do business.
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.
Also, please be sure to subscribe to our blog for future updates.
Kevin + Kiri