Kenneth Fortune
Louisville, KY (USA)
Role(s):
Founder/Owner/Principal
Urban Props Inc
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Startup
Location:
Louisville
Industry:
Real Estate
Year Founded:
2004
Number Employees:
1-10 people
Description:
Our company is a real estate management and acquistion company. We control a group of investors that purchase and rehab distress properties at 50 cents on the dollar or less. The properties are purchased, rehabbed then refinanced at 80% of value or sold (as market dictates. This creates cash flow and recoups all costs. Retained properties are rented to state Section 8 programs or low to moderate income tenants. All retained properties must have positive cash flow. Our company receives 40% net from sales and refinaces, approx 10% of rehab costs, and 8% of all rental income.