Buying Multi-Family in Old Louisville

[Megan Gleeson]

Hi,

First time buyer here who would love input from experienced investors in Louisville. I am planning to move to Louisville this year and would like to live in the Old Louisville Neighborhood. Thinking of purchasing a tri-plex or larger multi-family.  I would live in one unit and rent the others out. Long term goal is to have positive cash flow. Willing to make improvements to the property. I love historic homes and the neighborhood, hence my interest in this area. Any advice on buying one of these types of properties in Old Louisville and the tenants in this neighborhood? Also any thoughts on growth for this neighborhood?

Thank you and I appreciate everyones time. :)

[Rob Bergeron]

I like the potential equity in Old Louisville properties. You need to be aware of the neighborhood restrictions in regards to painting, windows, gutters, etc.  They also limit your ability to convert single family to multifamily. We try to buy close by due to the lack of restrictions.