Hi Everyone! my name is Gal and I currently live in beautiful Denver, CO. Unfortunately, we missed the boat buying a house 5 years ago when we arrived from NYC and now that the market is crazy and prices has sky rocketed, we are thinking on relocating to a new exciting place. During the process of looking for a house I came across one the Biggerpocket YouTube videos and absolute loved the idea.Instead of taking our saving and putting it towards a mediocre house that would appreciate in short amount of time, why not have the 4 walls work for me instead the other way around? working so many hours at a software company and not spending enough time with my delicious two girls lead to realize I have to generate passive income if I want to control my time. We are considering to relocate to Louisville KY, where my sister in law lives ( yay! free babysitter! ). We were thinking of buying a multi family units. I apologize the post is a bit general and might be premature, but since I am new and eager to learn, I thought I will share this post with you and hear from the community your thoughts on if it is profitable to invest there since the house appreciation rate is fairly low. Thanks a lot in advance and have a lovely week!
Welcome to BP @Gal Kochavi-Jones ! You’ll find a good number of folks on here from Louisville.
This is my second time in the area and I think you’ll be able to find some great deals that cash flow.
As you're preparing to move just keep exploring the site and learning all you can. There is a large REI group that you can connect to on here or through the meet up site.
Feel free to reach out if you have any questions!
Hi @Gal Kochavi-Jones Louisville is a great city! I'm an agent/investor here and would love to help answer any questions you may have about the local market. Feel free to reach out or PM anytime.
@Jordan Moorhead Hey ! that's great to hear that its going great for you and the market is profitable! a house hack would be an ideal but it all depends if we will be able to find a solid property in a good neighborhood ( because of my little ones.. ). if we are not able to find in a decent neighborhood then we will only be investing. Would love to hear more about your successes!
@Allan Bishop Jr. Thanks a lot! I am super excited to start exploring the wonders of Real Estate. I am defiantly trying to sock in as much information as possible and learn as much as I can both from the content on the website and most from people that achieved their financial goal. We are planning on relocating at the beginning of next month and would love to connect!
Hi Cameo Bennett, thanks a lot! I am excited to explore the area- I heard interesting things about the City! would love to connect and learn about the opportunities the market can offer!
@Gal Kochavi-Jones there are tons of multi unit properties in the Highlands that would make for good househacks. Close to parks, restaurants and entertainment too!
@Jordan Moorhead my sister in law lives there. That's a great area! I haven't seen anything in my price range ( We have about $60k to invest ) but I don't have access to the MLS so want able to explore what's really out there. Do you think that the area has already peaked yet? since the house appreciation rate is fairly low, where/what do you invest in?
Welcome to Bigger Pockets.
Hey there @George Blower . Thanks! good to be here!
@Jordan Moorhead nice! do you invest in MN as well or just in KY? I have noticed there are a lot more multi family units there that look affordable...
@Jordan Moorhead that's awesome ! congrats! I hope everything will go smoothly on Monday! I heard nothing but great things about Austin and San Antonio seems to also have a positive migration. I would love to meet up once I arrive if it works for you, of course!
@Gal Kochavi-Jones I don't live in Louisville and only really visit for holidays! If you need any help I'm sure my father would be up for meeting.
Austin is a great market as long as you stay away from downward trending areas.
@Jordan Moorhead ok. got's ya. thanks for the offer- I will keep in touch while i'm there.
@Danny Webber that's good to know. I haven't researched the area for investment but heard it's an awesome city. Do you need a lot of capital to start investing ( here in Denver the market is extremely competitive ) ?
25% down here... standard i think. assume low end houses are 150-250k.
@Danny Webber sorry for the late response- I am moving in a couple of days and packing doesn't seem to end :) $200,000 is reasonable...
Hello! @Gal Kochavi-Jones
Welcome to BP, and congratulations on making the decision to invest in your future via real estate.
I have written a few blog posts that may help you get started here on BP, and with your investing. Please click on the links, give them a read, and share your thoughts in the comments.
First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:
The second is a post that will help get you focused with your real estate investing goals:
The last one is a post that will help you choose an “investor friendly” real estate agent. There are many agents out there, but it’s important to choose the right one.
I love answering questions if you have any! Good Luck :)
Thanks alot @Brandon L. I will certainly check them out. It can be bit overwhelming for sure. I am learning as much as I can at this point and am planning on taking action within the next few months!
Highlands is always a safe bet for rentals and appreciating values. It is not slowing down. It is actually pushing its growth into neighboring areas like Germantown, Shelby Park, Smoketown. These areas are all experiencing crazy growth over the past few years. You can still find some multi unit properties that could be a house hack in these areas and Old Louisville for decent price. It is a hot market and very competitive currently. Know what you want, know your numbers, and be ready to act fast. Good deals don't last long.
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