Connections in Louisville

[Jesse Sharp]

Hey guys!

I am looking to make connections in with other investors/agents/ property managers in the Louisville area. I am active duty military stationed in California for the next  two years and plan on moving back to Louisville after my contract. In the mean time I am looking to invest in the area long distance. Any guidance is greatly appreciated!

[Joshua McMillion]

@Jesse Sharp

The first property was smooth. We purchased the home with a VA Loan to live in it as a buy and hold. The market was tiny, and finding a property was easy. The most challenging aspect of that deal was appreciation and cash flow. We purchased the home, not realizing that the property taxes would go up after leaving due to a homestead tax exemption. Several states have this, but I did not factor that into the numbers. The property still cash flowed over $150 a month, but that was half the amount I expected.

Additionally, the home has been relatively stagnating this year in equity. Given the market and national equity growth, that rental is well below the national average. I know people will say you don't buy for appreciation, but it is vital to identify and market that can appreciate and cash flow. That way, you can harness the full power of REI.

Sincerely, 

Josh