All Forum Posts by: James Wilcox

Yeah, I started off around Reno,NV & Tempe, AZ, but I think the median prices look way higher, so I am beginning to look and research around the areas of Fort Smith, AK, Cleveland, TN and Ownsboroo, KY

Ok kind of curious how Owensboro made your list. Out of the areas in KY that is not one I would have thought would be on most out of state investors radars.

0 Votes

Buying & Selling Real Estate

Post: Moving From California to Kentucky

James Wilcox

Posted December 10, 2024 13:42

Real Estate Agent
Bowling Green KY ~ Lexington, KY
Posts 1,339
Votes 572

Quote from @Miguel Suarez:

Hello,
I am moving from California to Kentucky for work possibly before March. I was wondering if anyone knows which areas/cities are best to buy a house. I am thinking a 2-3 bedrooms and minimum 2 bathrooms. My work is located in Louisville, Kentucky but I don't mind driving 20-30 or a little more. Budget wise I would like to stay below $220,000 for the house.

Any expertise/advice from anyone would be great! :)

-Miguel Suarez

If you're moving for work, it makes the most sense to live as close to your workplace as possible. Vehicle expenses are one of the major costs to consider, so living nearby helps reduce those expenses and saves you time. This likely means living in Louisville proper, depending on the job's location. A commute of 20-30 minutes with traffic might not get you very far, depending on your work schedule and destination. If you're considering areas outside Louisville, the smaller suburbs like Simpsonville, Mt. Washington, or Shepherdsville would be about as far out as you could reasonably go if you are lucky. Keep in mind, traffic in Louisville can be quite heavy.

0 Votes

Short-Term & Vacation Rental Discussions

Post: Buying a STR in Red River Gorge

James Wilcox

Posted December 10, 2024 13:33

Real Estate Agent
Bowling Green KY ~ Lexington, KY
Posts 1,339
Votes 572

Quote from @Matt Stull:

Hello,

I am fairly new to this idea and have wanted to invest in a STR. I travel to the RRG often for outdoor activities I enjoy. I am interested in purchasing a cabin that I can use but also rent out. I would love for it to cash flow. The cabin I am currently looking at is a two bedroom (one room is a loft) with one bath. It is located in a recreational community so other cabins are around it. The cabin was built in 2021. The mortgage would prob fall around 1600-2000 range. I have researched the Airbnb avenue in terms of what's required, etc. The cabin sits within a 15-20 minute drive of most popular activities that RRG has to offer. My question is what is the market like down there for successful rentals? Cash flow possibilities? Thanks!

Hey @Matt Stull I am kind of the KY go to REI guy on BP (see bio). Ask me any questions you may have about The Red. Overall though to answer your question, there is some supply glut in the RRG area so those older properties with less amenities are struggling some. The newer and amenity provided properties are still holding their own but activity is down compared to COVID area. Think more 2019 numbers. The RRG area is still a great STR market just be smart with any purchase and look for the value add. Good location is a big factor. Factor in all expenses.

0 Votes

Lexington-Fayette, Kentucky

Classifieds

Post: Looking to become more educated in real estate investing

James Wilcox

Posted December 01, 2024 18:39

Real Estate Agent
Bowling Green KY ~ Lexington, KY
Posts 1,339
Votes 572

Quote from @Austin Crawford:

@James Wilcox I'm in Hopkinsville, KY. Southwestern KY about a hour away from Nashville. Are you located in KY?

Bowling Green. Used to live in Lexington.

0 Votes

Real Estate Deal Analysis & Advice

Post: Airbnb cash flowing single family home

James Wilcox

Posted November 20, 2024 16:16

Real Estate Agent
Bowling Green KY ~ Lexington, KY
Posts 1,339
Votes 572

Quote from @Zach Edelman:

Nice deal. How's the cashflow going so far? Lexington, KY certainly an underrated STR market.

@Zach Edelman Lexington has a decent amount of STR regulations now with more on the way. Not impossible but it would be pretty tough to get an STR property approved unless you are an owner occupant.

0 Votes

Louisville Real Estate Forum

Post: Community members thrilled for Norton West Louisville Hospital's opening

James Wilcox

Posted November 19, 2024 13:00

Real Estate Agent
Bowling Green KY ~ Lexington, KY
Posts 1,339
Votes 572

Quote from @Linnette Greer:

Hello James. I believe my price is fair with the comps in the area. Yes, I’m using TheGuarantors platform for long term and Waivo for midterm and short term tenants instead of a traditional deposit.

Ok. The MTR industry has bit of a pull back but if you are priced well and your tenants are not putting much out for a SD than maybe look at the property features then. Can your property look better or be more inviting. Think more like an STR property with great photos and amenities. If not that than it might just be a demand issue. I would find that surprising for L-ville though. Some STR hosts have switched to MTR though with the laws so maybe you just have a supply problem there.

0 Votes

Louisville, Kentucky

Classifieds

Post: Looking to become more educated in real estate investing

James Wilcox

Posted November 19, 2024 12:57

Real Estate Agent
Bowling Green KY ~ Lexington, KY
Posts 1,339
Votes 572

Quote from @Austin Crawford:

I've been listening to the bigger pockets podcast for a while now, and want to be a passive investor. I'm 23 with a decent paying job that I've worked at since graduating college. The more I learn about investing in real estate, the more I become overwhelmed by the amount of options there are. I'm looking to begin investing around summer 2025, and want to be as educated as I can be before pulling the trigger. I live in a small town in KY, real estate is more affordable here than in larger cities, so I'm thinking that I should start out investing locally. I'm looking for a cash flowing asset, and need to become more educated in how to analyze a deal and be able to conservatively find deals that cashflow. Any good books for analyzing deals, finding cash flow, or just a good beginners guide to real estate?

@Austin Crawford happy to answer any questions you might have even about KY specifically. You are on the right track though and all here have even some great recommendations. @Nathan Gesner is super spot on as always. :) What small town are you in?

0 Votes

Louisville Real Estate Forum

Post: Community members thrilled for Norton West Louisville Hospital's opening

James Wilcox

Posted November 18, 2024 11:12

Real Estate Agent
Bowling Green KY ~ Lexington, KY
Posts 1,339
Votes 572

Quote from @Linnette Greer:

Hello Rob!
Yes it’s lots of things going on in Louisville Kentucky! The new hospital is one reason I decided to do midterm renting. Although, I’m having a had time getting a traveling professional in my property. I have it currently on Furnished Finders, Turbo tenant, and ale Solutions.

Are you priced fairly and have a low security deposit? Consider the security deposit waiver program.

0 Votes

Louisville, Kentucky

Market Trends & Data

Post: Who has interest in Kentucky?

James Wilcox

Posted November 12, 2024 06:27

Real Estate Agent
Bowling Green KY ~ Lexington, KY
Posts 1,339
Votes 572

Quote from @Zachary S. Pitts:

Quote from @Gino Barbaro:

@Celli Mowery

we were in both Louisville and Lexington. We exited both markets, louisville because of mandating section 8 housing after Covid and just the way they handled evictions and pyments during the pandemic. Lexington is a weird market with low occupancy, 90-92%, and there aren't many assets in the market. There is a barrier to entry, and the city is pro business, but our market had much better metrics.

Lower entry points should not factor into getting in a market. There's usually a good reason why the entry points are lower.

Gino this recently changed in Louisville! The city has changed Section 8 requirements multiple times lately.

You just have to deal with lead base paint inspections and random rental inspections now though. Also, something the state though is looking to make a law on now though.

1 Vote

Lexington-Fayette, Kentucky

Market Trends & Data

Post: Who has interest in Kentucky?

James Wilcox

Posted November 08, 2024 13:47

Real Estate Agent
Bowling Green KY ~ Lexington, KY
Posts 1,339
Votes 572

Quote from @Denis Ponder:

Quote from @James Wilcox:

Quote from @Denis Ponder:

Quote from @James Wilcox:

Quote from @Celli Mowery:

As a BP binge listener, investor and agent, I'm curious why smaller areas of Kentucky are not receiving focus with their low land costs, & lower entry points? Ohio & Michigan were recently highlighted in the rust belt as good values that cash flow. Kentucky should have been expanded into their calculations. Too many people are sleeping on this.

Kentucky Economic Development has many site ready properties in smaller areas that are ripe for rentals. Most notably, Mt Vernon, Berea, London & Corbin all along the I-75 corridor. The Rockcastle Megasite is an example of a site ready property & is only 20 minutes north of London. https://dataispower.org/rockcastle-mega-site/. The site is just south of Lexington, another market desperately in need of rentals but higher points of entry.

A rent heavy market, with a shortage, I am receiving regular requests for rentals in these markets.

While smaller towns in Kentucky often have lower price points, which means less capital is required, there are limitations to the profitability of these markets. The price-to-rent ratios are generally unfavorable, and a shortage of skilled tradespeople and reliable property management can hinder the success of buy-and-hold rental investments. For instance, Berea is a charming college town, but the combination of local taxes and less favorable price-to-rent ratios makes it less appealing for investment compared to other areas in the state.

Agree here! I grew up in Berea and lived there for 25 years. That area shaped me and I loved it there.

That's awesome! Berea is a truly unique place in Kentucky, and I agree that it may not get the appreciation it deserves. Having graduated from BC myself, I understand the charm it holds, which can be perfect for the right person.

What year did you graduate? I was 2003. My brother and wife are graduates of BC as well.

2011. That's cool. Good school as they say lol. You can't beat the value at least.

1 Vote

Lexington-Fayette, Kentucky

James Wilcox has started 111 posts and replied 1288 times.

Biggerpockets Logo Post: Newbie & long distance

Biggerpockets Logo Post: Moving From California to Kentucky

Biggerpockets Logo Post: Buying a STR in Red River Gorge

Biggerpockets Logo Post: Looking to become more educated in real estate investing

Biggerpockets Logo Post: Airbnb cash flowing single family home

Biggerpockets Logo Post: Community members thrilled for Norton West Louisville Hospital's opening

Biggerpockets Logo Post: Looking to become more educated in real estate investing

Biggerpockets Logo Post: Community members thrilled for Norton West Louisville Hospital's opening

Biggerpockets Logo Post: Who has interest in Kentucky?

Biggerpockets Logo Post: Who has interest in Kentucky?

Post: Newbie & long distance

Post: Moving From California to Kentucky

Post: Buying a STR in Red River Gorge

Post: Looking to become more educated in real estate investing

Post: Airbnb cash flowing single family home

Post: Community members thrilled for Norton West Louisville Hospital's opening

Post: Looking to become more educated in real estate investing

Post: Community members thrilled for Norton West Louisville Hospital's opening

Post: Who has interest in Kentucky?

Post: Who has interest in Kentucky?