Interested in Louisville KY

[Casey C.]

I'm an aspiring out of state investor looking around since I can't afford in my market (Bay Area, California). I stumbled onto Indianapolis IN when this pandemic started, but then more recently Louisville KY. I'm more drawn to Louisville due to the prices and rent, and I have not been to Louisville, yet. I haven't started yet due to some other opportunities locally. Now I'm getting my ducks back in order. 

As I continue my research, crunching the numbers, I would be looking at SFHs, up to $150k. Searching on Trulia/Zillow, I've seen a lot of deals in Portland, but after glancing at the crime map, I'm not certain that would be the best place for me to start. That being said, what areas of Louisville would you recommend for a beginning OOS investor to look at?

Thank you in advanced, and I look forward to connecting with you.

[Kat He]

Hi @Casey C., I started investing OOS in Indianapolis and have also recently entered the Louisville market. Mostly looking in South side and East side (J-Town area), but working with our PM to see strategies for West side opportunities as well.

Homes in the West side (Portland, Russell, Shawnee) etc often look good on paper but the properties need a lot of work, especially work that you can't see from listing photos such as repairs for failing foundation, flooding damage. Though there are flood walls around some areas by the Ohio River, a lot of homes still have damage from previous floods/years of neglect and there are still flood zones to be careful of. The area has historically not seen a lot of investment, though there is some talk of developments in Portland (Portland Investment Initiative).

If you want to PM me, I'd be happy to chat further! I spent a few months there--it's a cool city and I'm definitely hoping to expand my portfolio there.