Flipper/Rehabber · Jeffersonville, IN · Member since 2015 · 44 posts · 17 votes
Bought my first purchase in the Downtown Jeffersonville Area and I'm looking to network with other investors, contractors, etc. If you are near give me a shout. :)
Investor · Floyds Knobs, IN · Member since 2015 · 144 posts · 59 votes
9y
Hi Ryan. So far in my REI journey I have purchased 2 rentals in Shively which are cash flowing well. I am currently looking at a house in Jeffersonville as a potential rental.
I also purchased a house in Georgetown at the Floyd county sheriff's sale in June. That one I rehabbed and sold. My biggest problem was trying to find contractors at a reasonable price. I wound up doing most of the work myself which is a bad way to be an investor. The rehab took longer than it should have.
I look for my properties on both sides of the river but I am particular which areas I look at. I am very familiar with Floyd county and have been learning about the areas in Clark county and Louisville that are better for rentals or resales.
I am a member of KREIA (Kentuckiana Real Estate Investor Association). I attend the southern Indiana investor group meetings that are held at Tuckers Restaurant on State Street in New Albany. Those are at 11:30 on the first Wednesday of the month and are free to attend. There is also an investors meeting sponsored by Freedom Properties the second Thursday of the month. Each attendee pays $10 to defray the cost of the room and the snacks that are provided. All of these meetings will have an educational topic that is covered as well as meeting and gaining knowledge from other area investors.
Flipper/Rehabber · Jeffersonville, IN · Member since 2015 · 44 posts · 17 votes
9y
Hey @Glen Ayres, both New Albany and Jeffersonville markets seem to be an opportune time to invest with all the local business moving. I know the rent prices in downtown Jeff have been favorable so far. Hope you find the same.
Investor · Floyds Knobs, IN · Member since 2015 · 144 posts · 59 votes
9y
Hi Ryan. So far in my REI journey I have purchased 2 rentals in Shively which are cash flowing well. I am currently looking at a house in Jeffersonville as a potential rental.
I also purchased a house in Georgetown at the Floyd county sheriff's sale in June. That one I rehabbed and sold. My biggest problem was trying to find contractors at a reasonable price. I wound up doing most of the work myself which is a bad way to be an investor. The rehab took longer than it should have.
I look for my properties on both sides of the river but I am particular which areas I look at. I am very familiar with Floyd county and have been learning about the areas in Clark county and Louisville that are better for rentals or resales.
I am a member of KREIA (Kentuckiana Real Estate Investor Association). I attend the southern Indiana investor group meetings that are held at Tuckers Restaurant on State Street in New Albany. Those are at 11:30 on the first Wednesday of the month and are free to attend. There is also an investors meeting sponsored by Freedom Properties the second Thursday of the month. Each attendee pays $10 to defray the cost of the room and the snacks that are provided. All of these meetings will have an educational topic that is covered as well as meeting and gaining knowledge from other area investors.
Investor · louisville, KY · Member since 2015 · 26 posts · 9 votes
9y
David Heath Are the Freedom Properties meetings you referenced in Louisville or So. Indiana? I started attending KREIA a few months back with exception of the Xmas party. I would like to visit any other meetings in Louisville. Networking is the name of the game. Thanks in advance for any info!
Investor · Floyds Knobs, IN · Member since 2015 · 144 posts · 59 votes
9y
@Michael O'Connell The Freedom Properties meets are at the Hyatt Place Louisville - East, 701 South Hurstbourne Parkway. There is also another meeting I didn't mention and that is the Bigger Pockets investors meeting held at the Jeffersonville Library. It is held one Saturday a month from 9:30 - 12:00. I don't see one scheduled for this month but you can find them on the Bigger Pockets web site in the networking events.
Louisville, KY · Member since 2015 · 2 posts · 0 votes
9y
@David Heath I am looking to invest and have been thinking about the Shively area. I have a few questions about your experiences there, if you use property management etc. If you don't mind let me know and we can message/talk.
Investor · Floyds Knobs, IN · Member since 2015 · 144 posts · 59 votes
9y
@Ben Knuckles I'll be happy to give you all the information I have. I personally like Shively for owning rental properties. Send me a PM and we can discuss it.
Investor · Louisville, KY · Member since 2014 · 142 posts · 77 votes
9y
Brett Kennedy also runs a fairly large meet up in Louisville with a emphasis on networking with others. It's usually the third Thursday but the next one is this Thursday, I'm assuming because of the holidays.
Flipper/Rehabber · Jeffersonville, IN · Member since 2015 · 44 posts · 17 votes
9y
Hey David Heath, I'm running into the same issue with my property in regards to speed of the rehab with doing most of the renovations myself. It has it's benefit in regards to cost savings and the experience learned but I will definitely be taking a step back on my next property and hire contractors to assist in a lot of the work. If anyone has any good tips on networking with reliable contractors please let me know!
Glad to hear your Shivley properties are cash flowing well. Im hesitant to research that area because of the horror stories that loom around the west end but I may give it another look. The Jeffersonville area has been really good to me so far. I have a duplex with 2 1bedroom 1bath apartments so obviously turnover is going to be higher than average. But the current market price for rent in the area does a good job of offsetting that cost and by tracking for rent signs in the area it seems as if other investors/landlords are having no problem occupying the units again.
Investor · Floyds Knobs, IN · Member since 2015 · 144 posts · 59 votes
9y
@Major Robertson Thanks for the link Major. I haven't made it to any of Brett's meetings due to my other investor meetings occurring at the same time. With his being Thursday this week I will be free and will try to attend.
Investor · Floyds Knobs, IN · Member since 2015 · 144 posts · 59 votes
9y
@Ryan Gettelfinger I am experienced at doing most of the necessary manual jobs for a rehab but when you are spending your time doing the work yourself it is actually costing you more money than it is saving you. You need to be running your company not being the manual labor.
I know I got into a bind because I am new and I didn't have contractors in place before I bought the house. I got the house at the beginning of summer and the contractors were already booked for jobs. The ones left with openings were the ones wanting to charge residential prices and I needed investor prices. I needed someone who could do the work now not in a couple of months. To keep the rehab moving I wound up doing the rehab work. I couldn't have taken on another house if I had found one.
I am still building my contractors list so next time I will be ready.
Real Estate Agent · Louisville, KY · Member since 2016 · 146 posts · 135 votes
9y
Hey @Ryan Gettelfinger, I too am an investor from Louisville drawn to Jeffersonville and the surrounding areas for the redevelopment and growth that is occurring. I purchased a foreclosure over in the Oak Park subdivision of Jeffersonville recently and will be done with renovations this week. I'm hoping to be "all-in" with the purchase + rehab for about $70k and rent the place out for about $1,100. So, not too shabby. What areas and properties are you interested in?
Jeffersonville, IN · Member since 2016 · 36 posts · 20 votes
9y
My wife and I are preparing to start investing in the Southern Indiana area. She is an appraiser and I used to work for the City of Jeffersonville overseeing the floodplain management programs. If you have any flood related questions, let me know and I will do what I can to help. I plan on joining KREIA soon.
Investor · Louisville, KY · Member since 2014 · 202 posts · 111 votes
9y
All... I am rehabbing a large historical building in downtown New Albany right now. This project will take 6-9months to complete. I am looking for other large downtown buildings in New Albany or Jeffersonville as well. My current project is roughly 10,000 sq. ft. and will be a mix use building when complete. Looking forward to the finished product. New Albany and Jeffersonville are finally starting to get traction, slow but it's getting there. Perfect time to buy and hold in these areas.
I am also looking for up and coming neighborhoods in the downtown areas of New Albany and Jeffersonville. I am looking for flips or rentals. If anyone is interested in working together feel free to reach out to me. I would love to get more involved in these areas.
As for Louisville (Shivley) I would be very picky! There are some okay areas but I would much rather invest in PRP or other areas of the city. You can make good money in rougher areas it just depends on what you want to deal with. I find deals all the time in areas much better than Shivley for the same prices as Shivley properties. My advice would be take your time and choose the area wisely. Again, some areas of Shively aren't too bad, just do your homework. If anyone needs any help in Louisville let me know. I have been investing here for many many years and I know all areas pretty well. Thanks
Clarksville, TN · Member since 2016 · 238 posts · 96 votes
9y
If you decide to come down to Clarksville TN or anywhere in TN, I would be happy to help, be it finding you property as a realtor, putting you in touch with some good contractors, local banks.... or even just grabbing some coffee and talking about the area. Just let me know.
Investor · Floyds Knobs, IN · Member since 2015 · 144 posts · 59 votes
9y
@Bryan Wallace Hi Bryan. How hard is it to get LOMAs on the houses in the area below Middle Road and east of Allison Lane? I have been looking in that area of Jeff but have to be careful about houses being in the floodplain. I have also been looking for an appraiser to add to me REI team. Do you and your wife attend any of the local REI meetings?