All Forum Posts by: Chuck B.

 @Rob Bergeron is a local investor friendly/savvy agent. 

Kudos!! Germantown is super solid. If you want the next Germantown, look at what's happening in Shelby Park and Smoketown, but focus on the EAST side of those neighborhoods, not the west. Ditto for the Russell neighborhood. 

@Shaan Puri - East Russell (not west), east or central Smoketown but not west, east side of Shelby Park, Camp Taylor, Shawnee and east Portland (not West). Some of these neighborhoods are big and vary by area, or have really negative things happening on one side of them, so you can't (or probably shouldn't) consider the entire neighborhood when looking around. 

While I don't have any rentals there, I look at Chickasaw regularly. There are some nice areas there that would be great too.  

I’m a long time Louisville landlord. The biggest mistake I see today is out of state investors trying to force $2000+ rents on what should be a $1400 (3br) neighborhood. Maybe the house cost too much, or they put too much into the renovation, or both… so they feel compelled to hit their target return on what should have been a more modest house/base to begin with. You can get 2000-3000 rents in lots of places in Louisville, but not in ALL the neighborhoods. There’s a huge need in Louisville for affordable housing if you can provide a quality (3br) product for $1200-$1400 per month. You have to buy it right and not go crazy on the renovation budget. The other mistake is that they have no criteria for good tenants, so they rent to people that will cause nothing but problems in the future. The FICO score is the best indicator you’ll have of how much someone has their act together. 

 The journey of a thousand miles begins with the first … study. :)

That’s exciting, kudos!! Can I ask what area? How about a little more color on the numbers… how much value add is expected? What will normalized slip rates run versus where they are now?

ChatGPT is taking over half the general questions I would have asked Google. Not specifically RE questions though. I really want Alexa and Siri to catch up. 

Does the HUD fair market rent figure include utilities or is that just the rent portion? Finding sec 8 vouchers that will pay $1395 for a 3br today is really rare, at least in my experience. Many sec 8 recipients seem to be priced out of single family homes in most neighborhoods, this increase is way overdue.

This is an awesome story, Sean! Including the good, bad and the ugly is so helpful and refreshing to see. Kudos on your exit and here’s to the next one!