Hello from Louisville, KY - Re introduction

Louisville, Kentucky
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Hello from Louisville, KY - Re introduction

https://bluegrassmultifamily.com/
Francisco AlzuruPro Member
Rental Property Investor · Louisville KY · Member since 2018 · 37 posts · 13 votes

Hi: I am Francisco. I am a property owner and operator based in Louisville. After buying our first 200 units, we moved from Miami, FL to Louisville to operate our properties. We own 500 units in ETown, Bowling Green and Louisville, all from syndications. The post-covid period and post IR increase has been hard, but we didn't lose any properties and are current in our interest payment in most of them. I am looking to dispose of 68 units which have been our hardest to manage. I am also to looking to add to our portfolio, always in KY, now that our "trouble" properties are stabilized and more realistic prices are beginning to appear.

Looking forwards to reestablish connections with this incredible group.

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Arman AhmedPro Member
Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 954 votes
1mo
Quote from @Francisco Alzuru:

Hi: I am Francisco. I am a property owner and operator based in Louisville. After buying our first 200 units, we moved from Miami, FL to Louisville to operate our properties. We own 500 units in ETown, Bowling Green and Louisville, all from syndications. The post-covid period and post IR increase has been hard, but we didn't lose any properties and are current in our interest payment in most of them. I am looking to dispose of 68 units which have been our hardest to manage. I am also to looking to add to our portfolio, always in KY, now that our "trouble" properties are stabilized and more realistic prices are beginning to appear.

Looking forwards to reestablish connections with this incredible group.

Welcome back, Francisco. 500 units is quite a track record, especially getting through the last few years without losing properties. With prices getting more realistic, I’d also keep the broader Midwest on the radar, particularly Ohio. There are still some good value plays and cash flow opportunities if you know where to look. Best of luck with the next chapter!

[email protected]614-418-6081
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  • Arman AhmedPro Member
    Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 954 votes
    1mo
    Quote from @Francisco Alzuru:

    Hi: I am Francisco. I am a property owner and operator based in Louisville. After buying our first 200 units, we moved from Miami, FL to Louisville to operate our properties. We own 500 units in ETown, Bowling Green and Louisville, all from syndications. The post-covid period and post IR increase has been hard, but we didn't lose any properties and are current in our interest payment in most of them. I am looking to dispose of 68 units which have been our hardest to manage. I am also to looking to add to our portfolio, always in KY, now that our "trouble" properties are stabilized and more realistic prices are beginning to appear.

    Looking forwards to reestablish connections with this incredible group.

    Welcome back, Francisco. 500 units is quite a track record, especially getting through the last few years without losing properties. With prices getting more realistic, I’d also keep the broader Midwest on the radar, particularly Ohio. There are still some good value plays and cash flow opportunities if you know where to look. Best of luck with the next chapter!

    [email protected]614-418-6081
    1Reply
  • James WilcoxBusiness Member
    Real Estate Agent · Bowling Green KY ~ Lexington, KY · Member since 2015 · 1k+ posts · 603 votes
    1mo
    Quote from @Francisco Alzuru:

    Hi: I am Francisco. I am a property owner and operator based in Louisville. After buying our first 200 units, we moved from Miami, FL to Louisville to operate our properties. We own 500 units in ETown, Bowling Green and Louisville, all from syndications. The post-covid period and post IR increase has been hard, but we didn't lose any properties and are current in our interest payment in most of them. I am looking to dispose of 68 units which have been our hardest to manage. I am also to looking to add to our portfolio, always in KY, now that our "trouble" properties are stabilized and more realistic prices are beginning to appear.

    Looking forwards to reestablish connections with this incredible group.

    @Francisco Alzuru I would love to hear some more on your BG property.

    REI James w/ eXp Realty54 Reviews
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    • Francisco AlzuruPro Member
      OP
      Rental Property Investor · Louisville KY · Member since 2018 · 37 posts · 13 votes
      1mo

      James: Could you call me tomorrow sometime between 10 and 4PM?. I could tell you more. It is too long to write. The property is listed with Kirkland at present as our largest investor is looking to exit the business. Regards

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  • Brad SeidBusiness Member
    Lender · Licensed in 28 States · Member since 2026 · 176 posts · 51 votes
    1mo

    @Francisco Alzuru Great to hear you’ve stabilized the portfolio, Francisco. With 68 units to dispose of and plans to acquire more in Kentucky, having flexible financing lined up could be especially valuable. If you’re looking at new acquisitions, feel free to reach out. I’d be happy to discuss lending options that may fit your next deal.

    [email protected]248-408-3855
    West Capital Lending5127 Reviews
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  • Diana KhanPro Member
    Attorney · 10451 Mill Run Cir #755 Owings Mills, MD 21117 · Member since 2024 · 552 posts · 189 votes
    1w
    Quote from @Francisco Alzuru:

    Hi: I am Francisco. I am a property owner and operator based in Louisville. After buying our first 200 units, we moved from Miami, FL to Louisville to operate our properties. We own 500 units in ETown, Bowling Green and Louisville, all from syndications. The post-covid period and post IR increase has been hard, but we didn't lose any properties and are current in our interest payment in most of them. I am looking to dispose of 68 units which have been our hardest to manage. I am also to looking to add to our portfolio, always in KY, now that our "trouble" properties are stabilized and more realistic prices are beginning to appear.

    Looking forwards to reestablish connections with this incredible group.

    @Francisco Alzuru, it sounds like you’ve been through a pretty demanding few years and are now in a position to make more intentional decisions about what stays in the portfolio and what goes. I also noticed your reply about your largest investor wanting to exit. That part caught my attention because sometimes the reason for selling a property has as much to do with the people behind the investment as it does with the property itself.

    I’ve worked with real estate investors and business owners where everyone’s goals lined up when the deal started, but years later one person wanted liquidity, another wanted to keep growing, or their timelines simply changed. Those situations have made me appreciate agreements that plan for how ownership changes, exits, and major decisions will be handled before anyone actually wants out.

    You have a lot of operating experience, @Francisco Alzuru, and I appreciate you sharing what the last few years have actually looked like rather than only talking about the wins. I’m a real estate and business attorney, broker, and investor in Maryland, so the ownership and relationship side of real estate is something I see often in my work. Happy to stay connected and exchange perspectives.

    [email protected]240-266-0291
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