City breaks ground on state-of-the-art sports complex in west Lou

10 Replies | Louisville, Kentucky

https://www.wdrb.com/city-breaks-ground-on-state-of-the-art-sports-complex/article_ac6ff014-c907-11e9-905d-b7b8f084ba88.html?fbclid=IwAR3vQglxYBWfdazp3-Xvc5h4FylWG23hbpAfuOtA2RXGJs75jWDLQodBGRQ

Louisville is doubling down on driving more tourism into the city. This can be seen with the overhaul of the visitor center, the new botanical garden, new hotels, urban bourbon trail, and expanding the waterfront. Louisville is changing! 

What are your thoughts on Portland? I did a drive by yesterday and locked the doors. ๐Ÿ˜ It was scary. 

I keep hearing whispers of this area being the next area to invest in.

@Emily Fackler I had the same exact reaction when we drove through there last month. Definitely appears to be too rough to jump in at the moment. One of the BP podcasts was talking about timing on areas that were gentrification candidates and i believe the conclusion was you don't want to be the first 20%. 

Originally posted by @Emily Fackler :

What are your thoughts on Portland? I did a drive by yesterday and locked the doors. ๐Ÿ˜ It was scary. 

I keep hearing whispers of this area being the next area to invest in.

I think Portland is going to move much slower than Nulu did. Nulu was connecting two trendy points, Portland is four times the size of Nulu, change will be much slower, not to mention that Portland has been a low entry buy and hold area that cashflows. I think it'll be changing, but the city needs to change their stance on a few things. Currently you have homes that are worth $20k, but have $80k in tax liens. We are doing a trial to purchase homes, pause liens, and if the home is up to code in six months the city waives the liens. City is looking at it as lost revenue, but in reality it is revenue they were never going to collect. 

All that being said there is a ton of cool things going on! New YMCA, tearing down the YMCA, new incentives with owner occupants, opportunity zone, new track and field, expanding the waterfront, Shawnee learning center (next door). You can still purchase homes for $20-$30k in the area, with houses selling on the same street for $130k-$175k. I'd buy there, just expect slower progress. If your property management company is willing to manage it, I'd buy it in our market. 

Note: Just woke up, forgive any major errors. lol 

Originally posted by @Rob Bergeron :
Originally posted by @Emily Fackler:

What are your thoughts on Portland? I did a drive by yesterday and locked the doors. ๐Ÿ˜ It was scary. 

I keep hearing whispers of this area being the next area to invest in.

I think Portland is going to move much slower than Nulu did. Nulu was connecting two trendy points, Portland is four times the size of Nulu, change will be much slower, not to mention that Portland has been a low entry buy and hold area that cashflows. I think it'll be changing, but the city needs to change their stance on a few things. Currently you have homes that are worth $20k, but have $80k in tax liens. We are doing a trial to purchase homes, pause liens, and if the home is up to code in six months the city waives the liens. City is looking at it as lost revenue, but in reality it is revenue they were never going to collect. 

All that being said there is a ton of cool things going on! New YMCA, tearing down the YMCA, new incentives with owner occupants, opportunity zone, new track and field, expanding the waterfront, Shawnee learning center (next door). You can still purchase homes for $20-$30k in the area, with houses selling on the same street for $130k-$175k. I'd buy there, just expect slower progress. If your property management company is willing to manage it, I'd buy it in our market. 

Note: Just woke up, forgive any major errors. lol 

 Have the same thoughts about Portland (being the next big thing, just taking longer). I'm a newbie, so I have no desire to be the first 20% to invest there. 

It IS tempting, though.

Originally posted by @Andy Edge :
Originally posted by @Rob Bergeron:
Originally posted by @Emily Fackler:

What are your thoughts on Portland? I did a drive by yesterday and locked the doors. ๐Ÿ˜ It was scary. 

I keep hearing whispers of this area being the next area to invest in.

I think Portland is going to move much slower than Nulu did. Nulu was connecting two trendy points, Portland is four times the size of Nulu, change will be much slower, not to mention that Portland has been a low entry buy and hold area that cashflows. I think it'll be changing, but the city needs to change their stance on a few things. Currently you have homes that are worth $20k, but have $80k in tax liens. We are doing a trial to purchase homes, pause liens, and if the home is up to code in six months the city waives the liens. City is looking at it as lost revenue, but in reality it is revenue they were never going to collect. 

All that being said there is a ton of cool things going on! New YMCA, tearing down the YMCA, new incentives with owner occupants, opportunity zone, new track and field, expanding the waterfront, Shawnee learning center (next door). You can still purchase homes for $20-$30k in the area, with houses selling on the same street for $130k-$175k. I'd buy there, just expect slower progress. If your property management company is willing to manage it, I'd buy it in our market. 

Note: Just woke up, forgive any major errors. lol 

 Have the same thoughts about Portland (being the next big thing, just taking longer). I'm a newbie, so I have no desire to be the first 20% to invest there. 

It IS tempting, though.

I'd consider Shawnee then, smaller, people are already flipping over there. Cheap entry level costs.  

This is another, our latest one we just started. You canโ€™t see the metal roof from these pictures. 


We are closing on another this week and will start the exterior:  adding a metal roof, half wrap around porch, painting house and gutters and making the shed the same (metal Roof and same paint)