Lexington Kentucky. How do I start here? Whose already done it?

5 Replies

So I’m 24. I have a business plan more or less. A good credit score and a little money. I want to have two tenants buy the end of this year. How do I find the right house? How do I buy it( because honestly I’ve never bought a house before) and what can I expect when I’ve started this?

I used to live in Lexington and just had a meeting there today. Afterwards, I spent a few hours driving around and was really impressed with what I saw. What a great "small" town. 

I would try finding a property that is similar (duplex, sfh, $$$ point) to what you are looking to buy and call and talk to whoever answers. You'll either talk to the owner or a PM, ask them if they could recommend a good realtor that works with investors. You may even find an owner that is looking to sell. 

Definitely house hack! Look for a duplex, triplex or multi family (depending on how much money for a down payment you have). My hubby and I house hacked during our twenties/early thirties and it’s such a great start. You learn about being a landlord while being right on the property. Definitely find a realtor (we love Lisa Peel), and tell him/her your parameters. Good luck! Lexington is such a great big “small town.” 

@Lane H Hill come to the local REIA and you can get all the answers to those questions for free. Check out the events section of BP for more details. If you are able to attend this Thursday please do come say hi to me. All info is completely free. As others have mentioned "house hacking" is probably right up your alley.

Great advice on here already! The other advice I would add is I recommend you speak with a few banks and mortgage lenders and shop rates and make sure you are putting every loan option into your equation!