New Investor- Louisville, KY/Indianapolis, IN
Rental Property Investor · Louisville, KY · Member since 2019 · 37 posts · 61 votes
Hi everyone! My name is Jeff and I am from New Albany, IN. I have an interest in multi family units with 2-4 units. Ultimately my goal is to be cash flowing $20K a month (long term goal). Within the next 12 months my goals are to have purchased my first property or two, have an LLC set up for the property or properties, as well as one for my management company. I plan on paying the management company for things such as lawn care, painting, and anything that I have the skill set to do. I'd love to hear what everyone is doing and what your plans and goals are! Lets talk REI!
Hey @Jeff Byrne!
Welcome to the Louisville/Southern Indiana real estate investing community! It's a great city and I believe we're poised to experience significant business & economic growth in the coming years. As far as investing, I purchased a 4-plex in Old Louisville in November 2018 which I'm currently "house-hacking". It's been a great experience thus far and I plan on using the same strategy to purchase my next property in the coming months. I'm a big-fan of multi-family investing and I'm constantly reading books on how to maximize value I get out of these investments. Here are a few of my favorites:
These books will help you get a solid understanding of sound investment principles which you can use to build your multi-family portfolio. Also, have you attended any local real estate investor meet-up groups to establish relationships with local investors? If not, I highly encourage you to do so. One of the most popular groups, R.E.I.A (Real Estate Investor Association) has chapters in most major cities. Our local chapter has over 250 members, many of whom are extremely active in the market and have a wealth of knowledge they're willing to share.
Also, @Luke Neubauer and I run a free real estate investor meet up group that meets the last Wednesday of every month at the "Manhattan Project" restaurant. As part of the meet up, you get a chance to interact with with like-minded real estate investors and listen to engaging speakers who talk about topics related to real estate investing. This month, @Sterling White, a successful multifamily investor from Indianapolis, will talk about his experiences growing a real estate portfolio from 0 to 400 properties in under 4 years. Should be a great event that's worth checking out. Hopefully we'll see you there!
All the best,
Hey @Jeff Byrne!
Welcome to the Louisville/Southern Indiana real estate investing community! It's a great city and I believe we're poised to experience significant business & economic growth in the coming years. As far as investing, I purchased a 4-plex in Old Louisville in November 2018 which I'm currently "house-hacking". It's been a great experience thus far and I plan on using the same strategy to purchase my next property in the coming months. I'm a big-fan of multi-family investing and I'm constantly reading books on how to maximize value I get out of these investments. Here are a few of my favorites:
These books will help you get a solid understanding of sound investment principles which you can use to build your multi-family portfolio. Also, have you attended any local real estate investor meet-up groups to establish relationships with local investors? If not, I highly encourage you to do so. One of the most popular groups, R.E.I.A (Real Estate Investor Association) has chapters in most major cities. Our local chapter has over 250 members, many of whom are extremely active in the market and have a wealth of knowledge they're willing to share.
Also, @Luke Neubauer and I run a free real estate investor meet up group that meets the last Wednesday of every month at the "Manhattan Project" restaurant. As part of the meet up, you get a chance to interact with with like-minded real estate investors and listen to engaging speakers who talk about topics related to real estate investing. This month, @Sterling White, a successful multifamily investor from Indianapolis, will talk about his experiences growing a real estate portfolio from 0 to 400 properties in under 4 years. Should be a great event that's worth checking out. Hopefully we'll see you there!
All the best,
@Raphael Collazo thanks for the book list! I'll be moving to Louisville within the next year or so and I'm seriously thinking about house hacking to start. I'm dedicating a year to just learn, read, etc. I'm reading Brandon Turner's book right now, it's awesome...so thanks for the other recommendations!
Hi everyone! My name is Jeff and I am from New Albany, IN. I have an interest in multi family units with 2-4 units. Ultimately my goal is to be cash flowing $20K a month (long term goal). Within the next 12 months my goals are to have purchased my first property or two, have an LLC set up for the property or properties, as well as one for my management company. I plan on paying the management company for things such as lawn care, painting, and anything that I have the skill set to do. I'd love to hear what everyone is doing and what your plans and goals are! Lets talk REI!
Jeff! There are a ton of excellent meetings to go to! Our market is incredibly strong and kind to one another, eager to help and share! Come join me at one of the events! Always down to grab Chipotle!
Welcome @Jeff Byrne!
I'm also looking for MFH's to house-hack! What's your purpose for the LLC? And do you plan on starting a property management company or paying for one? Or both?
@Raphael Collazo, have you read the BP book on tax strategies? Why do you recommend the one by John T Reed?