Sound Investment Properties in Louisville, KY

[Anthony Cassel]

Hey Louisville BP members! I am working my way to the analyzing deals portion of my journey to investing in real estate. One concern that keeps coming to mind is how to determine what areas/neighborhoods that I should be looking to invest. Mostly interested in buy and hold, but if I get the courage, I would definitely be up for flipping houses as well.

I am in the Louisville, Kentucky/Southern Indiana area. I am still tossing the numbers around, but for now I think properties under $100,000 would be in my price range. I don't mind properties that need some work, and the idea of multi-family properties is enticing to me. I understand that isn't a lot to go off of, but right now my main concern is just finding an area that would be in my price range, but still in high demand to renters.

I see properties listed all the time for the west end that sound great, but more often than that, I'm hearing about investors who are wanting nothing to do with that area. I'm also wondering what the demand for rentals in southern Indiana would be like, especially with all of the construction going on right now.

So if anyone has any insight on these areas, I would really appreciate your advice. Also if anyone has suggestions for areas in Louisville or Southern Indiana witg properties under $100,000 with good cash flow, I'd love to hear about that as well. 

Thanks in advance everyone!

[Erik Hitzelberger]

I'd encourage you to define your goals a little more before going too far. Determine whether maximizing cash flow today is more important than low-maintenance housing. Decide on the type of tenant you want to deal with. And, figure out how much time you really have to spend on REI. These few things will help guide you to investments that fit in your goals and lifestyle.

To answer the question of where you might find homes <100K that rent easily, try 40216, 40258, 40272, 40229, 40219, 40214, 40208 (be careful), 40291, and if you are lucky 40220, 40222, 40299 or 40241.