All Forum Posts by: Jared Yates

Thanks Jay. That's the plan! 

Hey guys. I'm a new investor in Louisville Kentucky and I'm looking for input on my investment strategy. For reference, I'm a full timE paramedic. I cUrently have no rental properties or experience. My current budget has allows me to save $1000 a month for down payments. I've built up a pretty good down payment including 14k cash, another 15k in a Roth IRA, and a 10k emergency fund.

 Currently my strategy is to focus on cash flow. I want to buy a quadplex and try to get $150 a door. That would put me at 6k a year that I could combined with my savings for another down payment next year. That would give me progressively larger down payments every year. I would like to acquire another similar property the second year and then another the third year.  according to my math, once I hit 20 units and if I'm making $150 cash flow on each unit, I should have enough  cash flow to retire. 3k a month. Btw that would make me 31 when I retire which is my ultimate goal.

 With the resources I have listed and considering the Louisville area Marketplace, what would you guys recommend?  Does my plan sound realistic or am I about to make a tragic mistake?  All input is welcome! 

I have work that night. I'll catch the next one

Also, good info. I didn't know that they let non members go. I'll keep that in mind

Dang. I'm going to miss it to. But I'll be in the Bahamas so I guess I can't whine too much! Lol

I'm actually just getting to know a lender myself, so no answer yet

Welcome to the fun! I'm a newbie myself but happy to help if I can. Just let me know :-) 

@Brad Noe Speaking as a paramedic that has spent the last two years working the night shift, specifically in the Bardstown Rd/Bashford Manor area (I know, what a conincidence, right?) I can't recommend buying property there. The place has gone to hell and is only getting worse. I can't count all the shootings, assaults, and drug overdoses I've responded to within walking distance of that place. If you do choose to buy something there, please screen your tenants carefully. 

Definitely the first to admit I'm biased, after all, I'm only responding to places that have injured people. I know there are good people in the area, I've met some of them, but I'm personally leaving that area to other investors more willing to deal with the kind of problems those tenants bring. 

I Hope this helps, 

Feel free to hit me up if you want to talk about it. 

Welcome to the party @Jacque Saltsman! I'm a newbie in Louisville myself. That's awesome that you already have two properties under your belt. I'm looking for that perfect first property myself :) Hit me up if you ever need anything!

Yeah I've noticed the same thing. Louisville is blowing up lol Welcome to the fun @LAKITA JENKINS :) I'm a new investor to but if you ever need anything don't be afraid to hit me up!