All Forum Posts by: Michael S.

2% rule shows .8% not really that great. but welcome to BP from Louisville KY

awesome welcome to BP. Literally the best real estate information you will find on the web! im new too, its cool to have another Kentuckian here.

Louisville has a high corporate tax rate. We have lost a lot companies to surrounding cities and it has impacted the market in recent years. I appreciate all feedback good or negative. I figured it would be wise to see what everyone would think about it. Im new to all this!

the home seems to be nice enough to attract better tenants (new kitchen and bathroom) once the lease is up. The average rent is 900 in that area. Im trying not to pull the trigger just because I want to own a RE invest property. Its not too bad I mean, I wouldn't mind living in it. its layout is your average 1970 ranch style house. its brick and some vinyl.

thanks! I am constantly reading the articles on here. great stuff. I like to learn from other peoples mistakes rather than my own. (Go Cards!)

its was rehabbed 2 years ago. new hvac, wiring, plumbing, roof

prop taxs 765.05$ a year

tenant has been there 2 years. single mom with 2 kids. kept relatively straight for section 8. he said they never call him with problems to fix things.

financing - 21% down
interest rate 5%
30 year

thank you for the reply. That seems a little too ambitious for my first rental property. I'm definitely wanting to keep things close to me. But maybe one day I will do something like that

Would the BP community think this would be a good first time home investment?

- SFR 63900.00 price
- 3 bedroom 1000sf 1970
- 825 monthly rent ( section 8 )
- good tenants in the home already
- OK neighborhood not the best
- no renovations need to be done

im 25 and married. I want to get into real estate (rentals) really bad. I work for a tree company. we are always working for older people who have rentals and its really funny that the older generation almost always have some type of real estate investment. I always figured they knew something I didn't.
its really hard to get started and gain experience.