Looking into Louisville market

18 Replies

Hey BP!

Given that I live in Nashville and am from Indianapolis I drive through Louisville every time I drive back and forth and for the last year or two have had my eye on it. I'm seriously considering trying to find something there, but need to build up my knowledge and contacts of reputable agents and contractors etc.

I'm interested in multi-family, STRs, commercial, self storage, and possibly even flips if the right opportunity came up. I know U of L is a solid area for rents because of the university. I've heard that Butchertown, Highlands, and Old Louisville are hotter areas and am guessing that proximity to Churchill Downs and downtown are usually a plus (especially for STRs).

I'm casting a wide net here in just doing some preliminary research to get a feel for different areas of town, but would love to get connected with some others who have had some experience doing some of these things and have a good lay of the land and are connected with reputable contractors. Any info would be helpful!  

@Tim Bergstrom

I live in Louisville. I’m not super experience but I do have a couple rentals. The area right around Churchill downs can be pretty rough. You can pick up houses cheap in the area but there is not a lot of appreciation. If I was going to buy in that area I would go closer to U of L.

We have an incredible market for most things. Not a lot of places to build, so everything seems to be appreciating well. It's great for cashflow and our entry level costs are lower than a lot of other markets. Low property taxes (1.1%) and not a lot natural disasters as well.

As far as commercial goes, we've been seeing a lot of activity in the multi-family and self-storage space. It seems like any time one of those asset classes becomes available, it doesn't stick around for very long. Along with that, there's been a solid amount of industrial activity, particularly near Riverport and the Bluegrass Commerce Park, due to a strong presence of manufacturing companies in Louisville. Definitely a good overall real estate market with solid upside potential.
 


@Tim Bergstrom I have been eyeing the Louisville market as well, especially multifamily. It would be best to connnect with some brokers out there like @Tyler Chesser who are very active in the market. @Dino Pierce also invests in Louisville and is a wealth of knowledge.

@Tim Bergstrom

I'm somewhat in the same boat. I live in Franklin but have been eyeing Louisville for a while. The difference is that I would want move there and house hack. I'm actually heading up there for a little impromptu vacation this weekend! Super excited to look around! I've also heard good things about Iroquois and Shawnee Park as the next up and coming areas from people on here and the Louisville subreddit but take that with a grain of salt.

@Tim Bergstrom I am a lender with a local bank here in Louisville and an investor personally as well.  Louisville is fantastic for cash flow and is a safe place to start since we don't typically get caught up in the roller coaster effect of steep appreciation followed by sudden pull backs when the market isn't red hot.  

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I live in Louisville. My husband and I  just joined bigger pockets and I am excited to get started in real estate investing. I would love to partner with anyone, learn from anyone and do anything I can to provide value. Let me know if you need information about the areas of town or if you would like help walking properties, etc! 

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@Tim Bergstrom you correctly pointed out some of the hotter areas of town. My wife @Katie Noe and I flip houses and also do some long term rentals here in Louisville and in Southern Indiana. For flips, we try to stay in the $130-200k ARV range. For rentals, we are looking for a good balance of mild cashflow and appreciation in B and C class neighborhoods.

In general, in Louisville we like to operate inside of interstate 265 and east of I-65. In southern Indiana (which we are mostly targeting for rentals) we like New Albany and Jeffersonville, although Charlestown is also booming right now.

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