Best area for Rental Property in Louisville

[William A.]

I am interested in getting started in real estate investing in Louisville. I would like to start with a multi-family unit. What part of town can I get the best ROI?

[William R.]

I agree that having an overall plan is important, and starting with an understanding of what your getting into.  I'd also suggest not buying a very inexpensive, difficult to manage property as your first investment.

I think it is wise to manage your first few properties for a while, so you understand the ins and outs of property management and maintenance.  I'm sure others may disagree that its not the highest and best use of your time, but I found it invaluable.

I started with the idea of only buying multifamily in Old Louisville and focusing on students.  That plan has evolved over time, and I rent to very few student.  Most of my residents are young professionals.  My original plan also drastically limited potential opportunities.  I now have properties in a few neighborhoods and see it as a bit of diversification.