Newbie in Louisville, KY

[Justin H.]

Hi! My name is Justin Hurt and I live in Louisville, KY. I am in my late 20s and work in corporate finance. My love of finance and desire to gain financial freedom have led me to real estate.

I have read books and listened to podcasts for a couple years, and now that I have finished getting my CFA and MBA I have some free time and want to go ahead and jump in and buy my first property. I found BiggerPockets through the podcasts as I was looking for some new real estate podcasts for a long drive, and eventually made my way to the website. It is great!

Due to the nature of my wife and I's work schedule I think I am going to have to rely on external property management at first. I would love any references to property managers in the Louisville area from Louisville folks out there!

Justin

[David Beard]

Justin Hurt - I live in Shelby County and have a couple of SFR rentals in Louisville. One is tenanted by a relative, so I don't use a manager. The other is managed by Property Management of Louisville (pmofl.com). I have been happy with them in the 2.5 years I've owned the house, though I rehabbed it when purchased and the same terrific tenant has been there the whole time, so the PM hasn't had to do a lot. When needed, however, they have been very responsive, and the owner (Brian Stocker) and employees are highly ethical and conscientious.

It's extremely difficult to find properties in nice areas of Louisville that have reasonable rent yields. To improve your chances, you'd probably need to do some direct marketing, or other creative marketing, to find deals away from the MLS. You might want to make contact with Sharon Vornholt, who contributes on this site, as is a very good local wholesaler who does a lot of direct marketing. The folks at pmofl.com might have some non-MLS leads as well, as they deal in lots of REOs and other special situations.