62 Year Old Almost Looses Louisville Inheritance
Funding Received: $545,000.00
This NYC medical Doctor inherited 12 properties in her hometown, Louisville, KY. The properties had been in her family since 1925, purchased by her Grandmother, passed down to her mother and finally to her and her brother who had been fighting over what to do with the properties for years.
The properties were all free and clear and horribly dilapidated. The brother wanted to sell and the Doctor wanted to keep the properties however, her credit, like many Doctors, was in total disarray.
Gotham Capital Services LLC devised a plan to payoff the brother, and fund the properties which had an after repair value of approximately 1.2 Million Dollars.
We helped the Doctor form a corporation, found a hard money lender to fund the properties and convinced a friend of hers to co-sign on the loan since she had better credit for a percentage of equity in the company.
Gotham Capital Services’ own VP, Mandela Muhammad took the responsibility of hiring and managing the local licensed contractors’ budgeting decisions to insure the remodeling of the properties were completed efficiently and on budget. Our Founder, Tene Williams followed up to relieve Mr. Muhammad after being in the field in Louisville, for over 90 days. After completing each home, we proceeded to furnish, manage and rent the properties as vacation homes on Airbnb since the majority of properties were minutes from the University of Louisville and Churchill Downs.