All Forum Posts by: Adam Carbone

I'm also looking for MFH's to house-hack! What's your purpose for the LLC? And do you plan on starting a property management company or paying for one? Or both?

@Raphael Collazo, have you read the BP book on tax strategies? Why do you recommend the one by John T Reed?

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Originally posted by @Rob Bergeron:

Sending you someone, I'll tell you who uses thhem.

Interested in hearing who you have and why you recommend them. Would you kindly send that my way as well?

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Originally posted by @Chuck B.:

@Adam Carbone - Not all areas are great for rentals. It's very hard to find a property in St.Matthews or Crescent Hill (both are higher end areas) that will meet typical investor criteria. On our last house hack, my wife and I moved to Camp Taylor (a working class neighborhood) to get owner-occupied financing on a really solid brick duplex. It was not our dream neighborhood, but it was a fair compromise between live'ability and the pure financials of the deal. (Think, "I do what other's won't today so that I can do what other's can't tomorrow.") It wasn't quite a 1% deal but it was close and a few years later with rent appreciation it's a good deal better than that. The loan is fixed too, so it will never change. We subsequently moved to Crescent Hill (absolutely wonderful neighborhood, but pricey) and maintain that rental today.

Great reminder and great advice. Thank you so much!

Perhaps someday soon we'll get to come back to the neighborhood we love... Thank you for the anecdote as well! I appreciate it a lot!

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Originally posted by @Rob Bergeron:

I have a beat up property on Willam. Zoned as a duplex, one kitchen, one bathroom. Could be converted back to duplex. Floors are wonky. Check it out!

Rob, "beat up" doesn't exactly fit my criteria, but thank you so much for thinking of me! I appreciate it greatly!

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@Theresa Harris

Savings on rent ARE included in my calculations. But rents are relatively low and purchase prices are still way high in the area. So do I continue to make contacts and wait for something to pop up? Bank on a market correction?

I know deals aren't going to find themselves. So how do I wait/hunt well?

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Good evening!

Background: Newbie in Louisville looking to house-hack a duplex/triplex/quad. Most familiar with Crescent Hill, Clifton, and St. Matthews. Working in Indiana, so also interested (but less familiar) with downtown Jeffersonville and New Albany.

After researching my market, I've come to realize that (surprise, surprise) it adheres to the trends in the rest of the nation. Although I desire to house hack, I have not found a property (yet) that seems like it will cash flow in the areas I know are desirable for renters (looking to market to local graduate and seminary students as well as young professionals).

Right now, I'm saving well from my civilian job, but I want to make sure I'm waiting well. So, BP, what do you do when your market won't seem to cash flow? Bonus Question: Will a market correction fix my problem or make it worse?

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Welcome!

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Welcome to the city!

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Originally posted by @Todd Rasmussen:

@Adam Carbone

I can't imagine a situation where a $35 swing was necessary to bring in a partner on. What are you anticipating the rent for the other side to be?

As of this moment, I'm looking at my budget to see how much longer I should bide my time in order to min-max my risk-return ratio. Rent in the areas into which I'm looking are no less than $700 for a 1bd/1bth. What other numbers should I consider? I have contacted agents in the area as to what sort of bills I can reasonably expect tenants to pay.

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Thank you all so much for the suggestions and the kind words.

Looking forward to going to my first Meetup event. That is, after laryngitis makes me stop feeling like Bumblebee from the recent Transformers movies.

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All Forum Posts by: Adam Carbone

Adam Carbone has started 3 posts and replied 13 times.

Post: New Investor- Louisville, KY/Indianapolis, IN

Post: CPA Louisville Kentucky

Post: Louisville Overpriced: Now What?

Post: Louisville Overpriced: Now What?

Post: Louisville Overpriced: Now What?

Post: Louisville Overpriced: Now What?

Post: New Investor from Kentucky

Post: Newbie in Louisville, KY

Post: Borrow Additional Capital from Family for Mortgage?

Post: Newbie in Louisville, Kentucky