Louisville Market Feedback
I am looking to invest in the below zip codes in Louisville,KY and would love some feed back on your experiences.
40216, 40258, 40214, 40272, 40118, 40219, 40215.
* looking for SFH or Small Multi Family.
Here is some info to help provide why these zip codes are of interest and my understanding. If something is incorrect, please let me know.
1 - B - to C class neighborhoods :
a - I am looking for cash flow, but do not want to invest a lot of time into the properties. I will be working with a property manager.
b - Decent price to rent ratio ( not 1% however with the market shifting could be close within the next 6-24 months).
c - Lots of renters in these neighborhoods - helps decrease vacancies.
d- Decent public high schools in some areas - more likely to attract families ( longer occupation periods).
2 - Age of homes - generally built within the last 60
a - Opportunity for cosmetic renovations - easier entry to the BRRRR method
b - Not as likely for expensive repairs or structural issues ( I would walk away regardless should it show up in the inspection).
Thank you in advance!
@Jordan Moorhead invests in Louisville, he may offer some feedback or even have something for you.
Quote from @Chris L.:
I am looking to invest in the below zip codes in Louisville,KY and would love some feed back on your experiences.
40216, 40258, 40214, 40272, 40118, 40219, 40215.
* looking for SFH or Small Multi Family.
Here is some info to help provide why these zip codes are of interest and my understanding. If something is incorrect, please let me know.
1 - B - to C class neighborhoods :a - I am looking for cash flow, but do not want to invest a lot of time into the properties. I will be working with a property manager.
b - Decent price to rent ratio ( not 1% however with the market shifting could be close within the next 6-24 months).
c - Lots of renters in these neighborhoods - helps decrease vacancies.
d- Decent public high schools in some areas - more likely to attract families ( longer occupation periods).
2 - Age of homes - generally built within the last 60
a - Opportunity for cosmetic renovations - easier entry to the BRRRR method
b - Not as likely for expensive repairs or structural issues ( I would walk away regardless should it show up in the inspection).
Thank you in advance!
Happy to discuss your goals, seems reasonable and doable in our market. Welcome to plug into my infrastructure.
What do you mean NOT 1%? You would accept .8% or look for 1.2%? Are you looking for 100% of your money back at end of the deal or willing to leave some in?
@Chris L. Thats very doable in Louisville. I personally invest in many of those zipcodes. Happy to chat anytime. I work with alot of new investors.
Quote from @Clay Smith:
What do you mean NOT 1%? You would accept .8% or look for 1.2%? Are you looking for 100% of your money back at end of the deal or willing to leave some in?
From my research I am seeing many properties within the .8% - .9% range ( using the BP rental estimator) - however, I am a bit limited in my market knowledge. - Please correct me if I am incorrect. I would take lower cash flow for more appreciation and/ or lower time invested.
I would be okay with leaving some money in a deal as long as the property cash flows after the rehab.