Looking into Louisville market

[Tim Bergstrom]

Hey BP!

Given that I live in Nashville and am from Indianapolis I drive through Louisville every time I drive back and forth and for the last year or two have had my eye on it. I'm seriously considering trying to find something there, but need to build up my knowledge and contacts of reputable agents and contractors etc.

I'm interested in multi-family, STRs, commercial, self storage, and possibly even flips if the right opportunity came up. I know U of L is a solid area for rents because of the university. I've heard that Butchertown, Highlands, and Old Louisville are hotter areas and am guessing that proximity to Churchill Downs and downtown are usually a plus (especially for STRs).

I'm casting a wide net here in just doing some preliminary research to get a feel for different areas of town, but would love to get connected with some others who have had some experience doing some of these things and have a good lay of the land and are connected with reputable contractors. Any info would be helpful!  

[David Acosta]

Hey @Tim Bergstrom, not sure if you've made any progress on this - we're operating in nearby Lexington and have vetted a few deals in the Louisville market.  I think you're on the right track in terms of it's proximity to other MSA's.  Cincinnati, Indianapolis, and Lexington are all with in a fairly close distance which could help with scale.  

I've found that Louisville offers some nice pockets.  We're in the larger multifamily space, but regardless location is pretty universal.  I'd keep an eye out for future development and path of progress plays.  As a due diligence footnote - a few submarkets are prone to severe flooding.

Nearby Frankfort (state capital) is seeing growth.  @James Wilcox is a really great resource in these areas as well. 

Best of luck!