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.
Jeffersonville, IN · Member since 2016 · 36 posts · 20 votes
9y
David Heath Acquiring a LOMA in that area can be difficult. In general, many of the elevations there are not much higher than Lancassange Creek. I have recently been part of an engineering team studying this area, but any actual improvements to the creek to help the floodplain are years away. You will have more luck getting a LOMA in the old Oak Park subdivisions.
We have not started attending any REI meetings in southern Indiana yet - I plan on starting this month if possible (not sure what all is out there). Send me an email and we can get together if you like.
Investor · Floyds Knobs, IN · Member since 2015 · 144 posts · 59 votes
9y
@Bryan Wallace There is a meeting of the Indian sub-chapter of KREIA at Tuckers Restaurant on State Street in New Albany tomorrow. I try to get there around 11:30 so there is time to talk with the other investors that attend. I hope you can make it.
Flipper/Rehabber · Jeffersonville, IN · Member since 2015 · 44 posts · 17 votes
9y
Hey Jason James. Those historic homes in New Albany are a sight to see. I was researching into one a few months back that was just out of my scope of work. I could look up the information on it again you're interested, just shoot me a direct message
Flipper/Rehabber · Jeffersonville, IN · Member since 2015 · 44 posts · 17 votes
9y
Hey David Heath. I'm agree that cost of doing such work during the rehab does more harm than good, the initial cost savings is there but once I factor in the opportunity cost of missing other deals or doing it Instead of more important task then the savings is a negative. You say you're building up your contractors list, who would you recommend? If you have anyone in mind, shoot me a direct message with their name and number. Thanks in advance!
Investor · Floyds Knobs, IN · Member since 2015 · 144 posts · 59 votes
9y
If anyone is interested, the meeting sponsored by Freedom Properties Group will be this Thursday at Hyatt Place, 701 S Hurstbourn Pkwy. The meeting starts at 6:30 PM. I hope some of you can come.
Flipper/Rehabber · Jeffersonville, IN · Member since 2015 · 44 posts · 17 votes
9y
Hello everyone. Just checking in to give a quick update. The house renovation has been picking up traction every since I have started hiring contractors for help. The risk and price obviously increases when using contractors but I'm finding it to bring a lot of value in the form of faster speed, divided labor, and reduced stress. My tenant in the other half of the duplex is doing well. He was inherited from the deal but no issues yet ( knock on wood) He pays on time. The next step for is manage the renovation of the second unit until completion then fix up the outside of the house in spring before hitting up the local banks for a refinance deal.
How is your 2017 going? How is your reality aligning with your goals? Would love to hear about it and if there is anything I can do to be of value for you in the southern Indiana just give me a shout!
Investor · New Albany, IN · Member since 2014 · 14 posts · 8 votes
5y
Hello to all, not sure if this thread is still notifying previous posters since its 4yo, but I recently finished rehabbing and renting a property in Clarksville. I am looking to connect with other investors in the area, but am also looking for recommendations on a bookkeeper/accountant that understands rental properties. Since all of you are local I thought I'd reach out and see if you have any recommendations either virtual or local?