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All Forum Posts by: James Wilcox

James Wilcox has started 111 posts and replied 1292 times.

Post: New investor in the Western KY area

James Wilcox
Posted
  • Real Estate Agent
  • Bowling Green KY ~ Lexington, KY
  • Posts 1,343
  • Votes 573
Quote from @Chris Burcham:

Hey everyone, my name is Chris Burcham. I'm new to the real estate world and I'm looking to land my first deal in 2025. I live in Owensboro, KY and would like to invest locally. My initial goal is to purchase a fix and flip to gain capital for my first long term rental. I'm also interested in spec home construction. I'm an electrician by trade and I'm happy to answer questions or give suggestions for any electrical issues you may have. Thanks for reading and I look forward to connecting with you.

Welcome @Chris Burcham to the BP forums! Always good to see another Bluegrass state member. You already have a good skill set so take advantage of that. If you got any questions just ask. GL with all your future REI ventures.

Post: New Investor Ready to Learn

James Wilcox
Posted
  • Real Estate Agent
  • Bowling Green KY ~ Lexington, KY
  • Posts 1,343
  • Votes 573
Quote from @Joseph Longo:

Hi everyone,

My name is Joe. I'm new to real estate investing, and I am eager to learn and jump in quickly. I'm open to different strategies, but at the moment, I am looking for single family homes in Maine, Pennsylvania, Ohio, Kentucky, Tennessee, Virginia, and North Carolina. I live in NY, and I am looking to invest out of state in short term rentals. I work in tech, so any strategies for streamlining or automating the research and investing process is music to my ears. Looking forward to meeting and speaking with everyone.

Hey @Joseph Longo welcome to the BP forums! If you're interested in getting into short-term rentals (STR) in Kentucky, I'm your go-to person. We have some of the best markets in the country, and I'd be happy to share insights into the top spots here. I'm also one of the Airbnb Community Leaders for the state, so you're talking to the right person when it comes to this asset class. Feel free to reach out anytime!

My main advice is to focus on a specific area and research the local regulations. STR laws are evolving across the country, and you’ll need to narrow down your focus beyond just the state level. I understand you're in the research phase, but this is key—some areas are no longer STR-friendly.

Post: Help getting titles for trailers

James Wilcox
Posted
  • Real Estate Agent
  • Bowling Green KY ~ Lexington, KY
  • Posts 1,343
  • Votes 573
Quote from @Brian Lubeck:

I have owned a park for a few years and when I bought it there were 5 trailers that did not have a title.  I have located the VIN numbers for each trailer and now I am looking for advice on how to get titles to these trailers.  The previous owner claims they never had the titles to these trailers, so that is not option.  My assumption is that these trailers never had a title. The park is located in the state of Kentucky.  

Any help or advice would be appreciated.  Thank you

@Brian Lubeck I believe you need to call the local DMV for where your trailers are located and go through the process for a replacement title.

Post: Newbie & long distance

James Wilcox
Posted
  • Real Estate Agent
  • Bowling Green KY ~ Lexington, KY
  • Posts 1,343
  • Votes 573
Quote from @Radhika S.:
Quote from @James Wilcox:
Quote from @Radhika S.:

:) 

Yeah, I started off around Reno,NV & Tempe, AZ, but I think the median prices look way higher, so I am beginning to look and research around the areas of Fort Smith, AK,  Cleveland, TN and Ownsboroo, KY

Ok kind of curious how Owensboro made your list. Out of the areas in KY that is not one I would have thought would be on most out of state investors radars.


I am still in the initial stages of my research, but Owensboro made into the list while choosing candidates based on cities with diverse economy with significant industries for an LTR. However, I also understand that lower housing cost may saturate the rental market. 

While trying to understand your thoughts on this, why did you think out of state investors would not consider it?

@Radhika S. Out-of-state investors typically focus on larger cities like Louisville or Lexington, which dominate about 75% of discussions I have with OOS investors unless it's an STR market. Owensboro, the state's 4th largest city, has a population under 100K, and many OOS investors prefer cities with at least 300K residents and strong job growth. While Owensboro has its advantages, it doesn't usually stand out for most investors from a price to rent/ratio standpoint.

Post: Newbie & long distance

James Wilcox
Posted
  • Real Estate Agent
  • Bowling Green KY ~ Lexington, KY
  • Posts 1,343
  • Votes 573
Quote from @Radhika S.:

:) 

Yeah, I started off around Reno,NV & Tempe, AZ, but I think the median prices look way higher, so I am beginning to look and research around the areas of Fort Smith, AK,  Cleveland, TN and Ownsboroo, KY

Ok kind of curious how Owensboro made your list. Out of the areas in KY that is not one I would have thought would be on most out of state investors radars.

Post: Moving From California to Kentucky

James Wilcox
Posted
  • Real Estate Agent
  • Bowling Green KY ~ Lexington, KY
  • Posts 1,343
  • Votes 573
Quote from @Miguel Suarez:

Hello,
I am moving from California to Kentucky for work possibly before March. I was wondering if anyone knows which areas/cities are best to buy a house. I am thinking a 2-3 bedrooms and minimum 2 bathrooms. My work is located in Louisville, Kentucky but I don't mind driving 20-30 or a little more. Budget wise I would like to stay below $220,000 for the house. 

Any expertise/advice from anyone would be great! :) 

-Miguel Suarez

If you're moving for work, it makes the most sense to live as close to your workplace as possible. Vehicle expenses are one of the major costs to consider, so living nearby helps reduce those expenses and saves you time. This likely means living in Louisville proper, depending on the job's location. A commute of 20-30 minutes with traffic might not get you very far, depending on your work schedule and destination. If you're considering areas outside Louisville, the smaller suburbs like Simpsonville, Mt. Washington, or Shepherdsville would be about as far out as you could reasonably go if you are lucky. Keep in mind, traffic in Louisville can be quite heavy.

Post: Buying a STR in Red River Gorge

James Wilcox
Posted
  • Real Estate Agent
  • Bowling Green KY ~ Lexington, KY
  • Posts 1,343
  • Votes 573
Quote from @Matt Stull:

Hello, 


I am fairly new to this idea and have wanted to invest in a STR. I travel to the RRG often for outdoor activities I enjoy. I am interested in purchasing a cabin that I can use but also rent out. I would love for it to cash flow. The cabin I am currently looking at is a two bedroom (one room is a loft) with one bath. It is located in a recreational community so other cabins are around it. The cabin was built in 2021. The mortgage would prob fall around 1600-2000 range. I have researched the Airbnb avenue in terms of what's required, etc. The cabin sits within a 15-20 minute drive of most popular activities that RRG has to offer. My question is what is the market like down there for successful rentals? Cash flow possibilities? Thanks!

Hey @Matt Stull I am kind of the KY go to REI guy on BP (see bio). Ask me any questions you may have about The Red. Overall though to answer your question, there is some supply glut in the RRG area so those older properties with less amenities are struggling some. The newer and amenity provided properties are still holding their own but activity is down compared to COVID area. Think more 2019 numbers. The RRG area is still a great STR market just be smart with any purchase and look for the value add. Good location is a big factor. Factor in all expenses.

Post: Looking to become more educated in real estate investing

James Wilcox
Posted
  • Real Estate Agent
  • Bowling Green KY ~ Lexington, KY
  • Posts 1,343
  • Votes 573
Quote from @Austin Crawford:

@James Wilcox I'm in Hopkinsville, KY. Southwestern KY about a hour away from Nashville. Are you located in KY?

Bowling Green. Used to live in Lexington.

Post: Airbnb cash flowing single family home

James Wilcox
Posted
  • Real Estate Agent
  • Bowling Green KY ~ Lexington, KY
  • Posts 1,343
  • Votes 573
Quote from @Zach Edelman:

Nice deal. How's the cashflow going so far? Lexington, KY certainly an underrated STR market.

@Zach Edelman Lexington has a decent amount of STR regulations now with more on the way. Not impossible but it would be pretty tough to get an STR property approved unless you are an owner occupant.

Post: Community members thrilled for Norton West Louisville Hospital's opening

James Wilcox
Posted
  • Real Estate Agent
  • Bowling Green KY ~ Lexington, KY
  • Posts 1,343
  • Votes 573
Quote from @Linnette Greer:

Hello James. I believe my price is fair with the comps in the area. Yes, I’m using TheGuarantors platform for long term and Waivo for midterm and short term tenants instead of a traditional deposit. 

Ok. The MTR industry has bit of a pull back but if you are priced well and your tenants are not putting much out for a SD than maybe look at the property features then. Can your property look better or be more inviting. Think more like an STR property with great photos and amenities. If not that than it might just be a demand issue. I would find that surprising for L-ville though. Some STR hosts have switched to MTR though with the laws so maybe you just have a supply problem there.