All Forum Posts by: Joe Marcum

Welcome aboard!

Lexington Wealth Builders was the Lexington REIA, but it has been 'mothballed' for lack of a better term. A few of the legacy members are getting together to start a new group. The first meeting was Monday, Jan 11 and had ~50 people show up. It was at Abuelo's private room at the Fayette Mall

The new group is designed to foster knowledge and professional connections in the Real Estate investing community, in and around the Lexington Market! I'll try to post out when the next meeting is scheduled, I think the plan is for a monthly meeting.  Here's the Facebook Group for them:

https://www.facebook.com/groups/BluegrassREI/

There is also a Landlord Association that has been around for a few years that I just found out about. They meet on the second Tuesday of every month at the Golden Corral on New Circle Rd in Lexington. Here's their last ad from craigslist:

LEXINGTON LANDLORD ASSOCIATION

Attention Lexington, and surrounding counties, Landlords. We will be having our monthly meeting on Tuesday evening, JANUARY 12,2016. The monthly meeting , second Tuesday of every month, will start at 7:00 p.m. at Golden Corral, New Circle Rd., Lexington, Ky. All Landlords are welcome, we share information on rentals, evictions, legislation, property for sale and other issues and problems that we encounter day to day. Please try to attend, a wealth of information is shared, and you are more than welcome to join us. This will be a great meeting with shared information. Please try to attend, you will not be disappointed.

Next month's meeting is Feb 9th. Stephen Marshall, a lawyer for GLAA will be the speaker. Dues are $25 a year, the first meeting is free to attend, I think. There are around 30 members, but I'm not sure how many were at the last meeting as i couldn't make it.

Thanks!

Joe

Yep, I hope the Frankfort deal works out too! I agree about Lexington. Our last 3 SFR purchases have all been out of Fayette, 2 in Scott and 1 in Clark county just because we can't find anything in Fayette.

Thanks for the follow-up! We just had an accepted offer on a few multi-units in Frankfort, so i was curious to see how your projections compared to reality in the multi's.

We've moved outside of Lexington as well; the SFR bread and butter deals we're used to seem to be harder to come by now, though we are still looking for them. -Joe

@James Wilcox - If you don't mind, I'm interested in seeing how the multi you purchased above has been performing for you. Thanks!

Joe

Lexington Wealth Builders was the Lexington REIA, but it has been 'mothballed' for lack of a better term. A few of the legacy members are getting together to start a new group. The first meeting was Monday, Jan 11 and had ~50 people show up. It was at Abuelo's private room at the Fayette Mall

The new group is designed to foster knowledge and professional connections in the Real Estate investing community, in and around the Lexington Market!  I'll try to post out when the next meeting is scheduled, I think the plan is for a monthly meeting.

There is also a Landlord Association that has been around for a few years that I just found out about. They meet on the second Tuesday of every month at the Golden Corral on New Circle Rd in Lexington.  Here's their last ad from craigslist:

LEXINGTON LANDLORD ASSOCIATION

Attention Lexington, and surrounding counties, Landlords. We will be having our monthly meeting on Tuesday evening, JANUARY 12,2016. The monthly meeting , second Tuesday of every month, will start at 7:00 p.m. at Golden Corral, New Circle Rd., Lexington, Ky. All Landlords are welcome, we share information on rentals, evictions, legislation, property for sale and other issues and problems that we encounter day to day. Please try to attend, a wealth of information is shared, and you are more than welcome to join us. This will be a great meeting with shared information. Please try to attend, you will not be disappointed.

Next month's meeting is Feb 9th. Stephen Marshall, a lawyer for GLAA will be the speaker.  Dues are $25 a year, the first meeting is free to attend, I think. There are around 30 members, but I'm not sure how many were at the last meeting as i couldn't make it.

Thanks!

Joe

I'm a buy and hold cash investor and currently own properties in Fayette, Scott and Clark county I'd be interested in hearing any wholesale deals you have in Central KY.

Regards,
Joe

Awesome, congrats! I'd like to know how it all works out for you, as we're considering moving into small-midsize multi's at some point, as we're running into issues getting "deals" on SFR's now.

I don't have any 4 plexes, but I do have a bunch of SFR and a duplex in a class C- area (Winburn). Take this with a grain of salt, but the cashflow numbers just don't seem all that great to me. For a true class C area, I'd want a much better cash flow, as you will be turning it way more often than you think. In addition, I'd want specific details on what the actual plumbing issue was and what was done to resolve it . Specifically, was it a main sewer line issue (ie it's done-done now), or was it an issue you're going to have to deal with on the other 3 units in the very near future just due to aging components? I'd also go overboard in my inspections of all components\systems, specifically paying attention to those that have been replaced to make sure they were done correctly. Good luck, and let us know how it goes! -Joe

Welcome to RE investing! The Lexington REIA is named Lexington Wealth Builders and I they usually meet on the first Wednesday of the month at Awesome INC! on Main St in downtown Lexington. There are usually 2 or 3 wholesalers who attend these meetings. Here are some links, I highly suggest checking them out!

http://www.lexingtonwealthbuilders.com/

https://www.facebook.com/LexingtonWealthBuilders

-Joe

Welcome to RE investing! The Lexington REIA is named Lexington Wealth Builders and I they usually meet on the first Wednesday of the month at Awesome INC! on Main St in downtown Lexington. Here's some links for them, I highly suggest checking them out!

http://www.lexingtonwealthbuilders.com/

https://www.facebook.com/LexingtonWealthBuilders

-Joe