Fort Knox and Elizabethtown, KY

[Joseph Doyle]

I've got a single family home in Vine Grove that I bought when I was stationed at Knox and it has been rental ever since I moved in 2013. That's currently my only rental and I'm looking get started with more. Having had an established relationship with a property manager that I've been happy with I'm considering investing in more rentals in either the Vine Grove/ Radcliff/ Elizabethtown area. I’m looking for general advice from anyone that has some firsthand experience with recent trends in the area that has an idea about vacancy rates, most popular types of rentals, etc.

It'd be long distance investing for me since we don't plan on returning to the area but given the housing prices in the area and having a PM already it seems like it might not be a bad idea.Let me know what you think.

[Larry Ashlock]

Joseph,

My apologies as I was wanting to message you right after your post but saw it again when I was going through old messages. I currently have one unit in rural Hardin County (a trailer which has actually done great cash flow over the years), about a dozen raw land lots in West Point, Radcliff, Elizabethtown and rural Hardin County and am closing on an 8 unit (two four unit's side by side) in Radcliff. One is a 2 bd/1 ba complex and the other is a 1 bd/1 ba complex. I am currently looking at a duplex in Radcliff as well as three four units in E'town. I don't currently have an SFR's as I am really concentrating on mutli-family but I do keep up with the rental market of SFR's in reviewing the multi's. Vacancies in the area seem to be low but I can tell you in my research it seems rents in Elizabethtown are higher right now than Radcliff for the same type of unit but you also pay more for the same type of unit in E'town. Vine Grove seems to be a good area for new build which may be good for fix and flip which I do not do, but do interact with those players in my legal work handling tax liens for a client in Hardin County. I am also looking at some commercial and commercial vacancies in Radcliff are higher and thus more properties available for less cost than in Elizabethtown where commercial is more scarce and more expensive but also less properties on the market that are mostly or completely vacant. Hope this helps. If you want to discuss anything particular just let me know as I probably know any property you would be looking to buy and can research just about anything about it. I also have connections with the local community banks if you need any kind of financing on your deals going forward.

BTW, I am looking into property management for my 8 unit in Radcliff.  Who do you use that you like for your property?