Lexington, KY first investment. Need opinion on neighborhood.

[Katie Peters]

Hello all, I’m considering a deal in Lexington, KY, but I want opinions on the neighborhood. The house is off North Limestone and close to New Circle. It is approximately 0.8 of a mile from some of the trendier existing businesses. It’s my impression that the area is growing, and I see houses here and there that are being flipped. If the numbers are as indicated, it would cash flow, but does anyone know if this area is worth buying in? I don’t feel it’s growing as fast as other parts of Lexington, so it feels more like a gamble. Also, I’ve heard being a land lord in Lexington is more challenging than other cities, such as Indy or Kansas City, MO. This will be my first investment property, so I want to be especially careful. I’ll appreciate your input. Thank you! Katie

[Tara Sienkiewicz]

Hi Katie, I live in Lexington and own rentals here. I personally would not buy close to New Circle off of N. Limestone especially for a first property. The closer to downtown you get, the better. This is certainly a burgeoning area, and one to watch, but it hasn’t made it out to New Circle yet. On Noth Limestone, I would aim for Loudon Ave and between the “numbered” streets like 7th, 6th, 5th and lower.