1% Rule in Louisille Kentucky? How possible and where?
Hello everyone,
I've been researching many properties in the local area and curious what areas everyone is looking to buy into for a buy and hold? I have had a few deals come up in J-Town and Fern Creek that even at a low cost and adding necessary rehab, the rents will not get to 1%. Anyone have any suggestions on areas to focus on? Or, perhaps, and more than likely, I have just not found anything worth buying yet.
While I like J-town, Hikes Point and Fern Creek because I grew up around those areas, I realize that those may be more difficult to get near 1% than say, in the west end or other areas.
Anyone with some tips on areas and perhaps where they have been able to hit on the 1%-2% rule of thumb on rent. It just never seemed like rent in Louisville was very high compared to property values over the years as I've minimally been looking around.
When I listen to the podcasts and listen to the guys talk about filling out the online calculator using $60,000 property and $1000 rent from their areas, I haven't come across that. Wondering if anyone locally has and where I may be able to focus on looking to achieve a cash flowing property.
Thanks