All Forum Posts by: Adam S.

@Chris Gordon

A drive around Louisville doesn’t take much. A few days would give you plenty of time to figure out the area or at least ID some areas to start. Many good people here (including me) that wouldn’t mind showing you the town.

@Stephen Reyes

I’ve done it a few times. So far, as long as the lender gets the money regularly (think about setting up auto-draft), they don’t bother. I heard during the Great Recession that some cracked down on this practice, but I discussed what I was doing with my lenders so they were fully aware.

@Jordan Jaramillo

I don’t self-manage but advise new investors to interview property managers in their area to understand their process for screening tenants even if I didn’t go through them. At first, I wasn’t sure whether I would manager or not and told that to whomever I called to keep things above board. Most were helpful (one reason I decided not to manage). I reviewed some of their listings and sample agreements. Given this is a business, I also talked with an attorney to make sure I was covering myself.

Rents are different even within a city.  You'll need to be more specific about the location.  Take a look at a rent estimator like rentometer.com.  Use the property address or one in the area you are looking at to gauge what rents look like close to that area.

Hey, welcome to the market! Louisville and Lexington are excellent options. What properties are you interested in? 

Education is important, but don't get yourself into sizable debt unless it's a career you will love.  I've been listening to many people who went to school and got into student debt.  They don't use their major for their career now and are figuring out how to pay for something they don't use.  Spend money on ways to improve yourself and learn something that excites you.  There are a number of ways to learn.  Go to the library and read books.  Listen to podcasts.  Contact people in industries that you want to work and ask them what did to get their career.  Make a plan, and find the best way to achieve that plan!