New Guy from Lexington, Kentucky

New Guy from Lexington, Kentucky

Lexington, KY · Member since 2013 · 5 posts · 0 votes

Hi, I've been reading for a week or so and I figured it's about time to finally introduce myself.

My name is Jeb and I'm from Lexington, Ky. I lived and went to college in Lexington for a few years, spent a few years in the Army, now I'm coming back to Lex to finish up my degree and start a career. I'm a finance major, something that I hope will give me a better understanding of the intricacies of real estate finance.

My real estate goals are pretty simple, I'm thinking long term cash flow. I considered trying to get into wholesaling initially but I'm turned off by the number of people that try to get into it and walk away, I would rather go ahead and start out by investing in a duplex that I can live in while I'm finishing up school. After that I plan on buying more MFR's as deals and funds become available.

I'm also interested in flipping houses as well. I grew up with a Dad that would rather do home repairs ourselves so I was able to learn quite a bit from him and I'm pretty handy with my tools. If I need more help I've got a couple contractors that work for my family that would be available as well. I don't plan on flipping houses often but I'm not against it if the right deal comes along.

I think that about covers it for now, thanks for having me here. I'm enjoying reading and learning more every day.

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  • Involved In Real Estate · Lexington, KY · Member since 2013 · 46 posts · 1 vote
    13y

    You found the right place Jeb. Glad to see another Kentuckian join the network.
    Good luck!

  • Lexington, KY · Member since 2013 · 5 posts · 0 votes
    13y
    Originally posted by Landon S.:
    You found the right place Jeb. Glad to see another Kentuckian join the network.
    Good luck!

    Thanks Landon. I saw in another thread you're at UK, we probably know some of the same people. I was there from 2008-2010.

  • Real Estate Consultant · Eugene, OR · Member since 2013 · 178 posts · 39 votes
    13y

    Hi Jeb-

    I did a deal in Newport last year. How far is that from you?

  • Real Estate Agent · Milwaukee County, WI · Member since 2009 · 3k+ posts · 525 votes
    13y

    Welcome

  • Rental Property Investor · Lexington, KY · Member since 2012 · 115 posts · 64 votes
    13y

    Welcome! Lexington is not a bad market to get started in! Lot's of deals here. Actually just closing here soon on a duplex here in Lex. Go Cats!

  • Lexington, KY · Member since 2009 · 2k+ posts · 1k+ votes
    13y

    Welcome Jeb! Another Wildcat here (graduated in 2008) and prior service-member (Air Force Maintenance Officer). I moved back to Lex this summer after I separated and love being back!

  • Lexington, KY · Member since 2013 · 5 posts · 0 votes
    13y

    Travis Daggett, Newport isn't too far, around an hour and a half or so. It's in the Greater Cincinnati area, which isn't a bad drive at all.

    Zac P., it's good to hear that it's a good market. I need to learn more about the different neighborhoods within the city, as it is I'm mostly familiar with State Street and that little area. I need to expand a bit.

  • Rental Property Investor · Lexington, KY · Member since 2012 · 115 posts · 64 votes
    13y
    Originally posted by Jeb Jarrell:
    Travis Daggett, Newport isn't too far, around an hour and a half or so. It's in the Greater Cincinnati area, which isn't a bad drive at all.

    Zac P., it's good to hear that it's a good market. I need to learn more about the different neighborhoods within the city, as it is I'm mostly familiar with State Street and that little area. I need to expand a bit.

    Jeb,
    I invest in more lower income areas for the buy and hold. I stay away from student housing, but there is good money to be made there! I have seen what college kids do and I'll pass thanks. Haha. I manage those 8-plexes around the corner from State on Royalty Court off of Waller. Hit me up on here if you need any info.

  • Gilbert, AZ · Member since 2013 · 48 posts · 6 votes
    13y

    Welcome to BP Jeb!

  • Lexington, KY · Member since 2013 · 5 posts · 0 votes
    13y
    Originally posted by Zac P.:

    Jeb,
    I invest in more lower income areas for the buy and hold. I stay away from student housing, but there is good money to be made there! I have seen what college kids do and I'll pass thanks. Haha. I manage those 8-plexes around the corner from State on Royalty Court off of Waller. Hit me up on here if you need any info.

    I'm looking towards more low income areas as well. I'm interested in the area around Jefferson St over to Transy. There seem to be good prices on houses that need some work. I do know the neighborhood well enough to know that it's really not a great neighborhood but I think there will be some appreciation in the next few years, particularly as the improvements go on downtown and with Town Branch and more and more people want to move to within walking distance of downtown. There are a lot of local, artisanal type businesses going in on Jefferson St. I'm hoping young professionals will follow that trend and want to live in the area.

    I'm sure it would be nice having some of the houses near campus that are basically guaranteed to be rented out every year but I don't think that the return on those would be as good since the price of the houses is so high.

  • Will BarnardPro Member
    Moderator
    Developer · Santa Clarita, CA · Member since 2008 · 15k+ posts · 10k+ votes
    13y

    Welcome to BP Nation Jeb.

    Will Barnard

  • Involved In Real Estate · Lexington, KY · Member since 2013 · 46 posts · 1 vote
    13y

    Jeb Jarrell Zac P. James Vermillion Since this thread seems to have a lot of the Lexington crowd in it... I can definitely see downtown moving up that way in the future Jeb. I am focusing on finding deals around campus as of now. I think streets off N Ashland could see some growth over the long run too. There are many new "Chevy Chase crowd" businesses popping up over there and there are some decent multi-families. I know the Polo Club Drive area in Hamburg is a pretty nice FTH neighborhood as well. Foreclosures are fairly common. (my brother and his wife live there.)
    If any of you guys would like to get together in Lexington and talk about the market/investing let me know.

  • Lexington, KY · Member since 2013 · 5 posts · 0 votes
    13y

    Landon S. I think you're probably correct on the N Ashland area. I'm a bit behind the time on the Lexington area since I haven't been around for a few years though, I need to catch up on all the neighborhoods that I'm not very familiar with.

    I'm definitely in for a Lexington meetup at some point though.

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