All Forum Posts by: Jay Ingram

Angelo,

 I live in Old Louisville, which is a historic district. It is zoned TNZD, which means that any exterior of the house must be according to specific codes. This means that you cannot replace windows with vinyl, etc.  For the grants and other incentives, the inside of the house must be rehabbed according to historical standards. I’ve spoken with the state about this before, and modernizations to the home are probably not covered. That said, I think rehabbing historic homes is a much greater expense than finding other opportunities.  Also, if you find a home that has been vacant for more than one year, it must return to single-family. 

 If the property is in a TNZD,  that information is incorrect. If it is a single-family residence, it must remain a single-family residence. I’m not sure about other zones, and I agree with Jordan that you should contact the city about it. 

My friends own a company designed for renting to refugees. They have some great tenants and some that aren’t. Make sure they have a thorough orientation on the expectation of a tenant and home care. For example, a friend told me a Somali family that lived in one of their units never used a shower curtain and eventually they had to replace the flooring due to water damage. They own hundreds of units and now make sure that everyone knows expectations going forward!

Does anyone have experience buying cropland? My wife and I are wanting to acquire land in the country that still produces income, but I have not found many current resources for evaluating land that you are not going to develop into a subdivision. The minimum acreage we are looking at is 50 acres, and we are located in Kentucky.

Thanks for any advice you have!

Hi Rob, I also want the list. Can you send it as a pm? Thanks for the resource!

I use John Ackerman. He’s young but works with several other investors I know.

Tony Westphal at River City is great and hungry!

I got a great rate at American Founders, but they wanted 25% down. 

Have you considered Huntsville, AL? I'm in Louisville and building from SFH to multi-family here, but Huntsville will have sustained stable growth for years to come. My hometown is Gadsden, and brain drain is sending everyone to Huntsville. Also, they just won a bid for a new Toyota/Mazda factory.

Thanks for the info. I will go today with no money and check it out. Greg, I can only imagine the things hopeful buyers would say to a teen buying a lot of houses!

Has anyone had experiences in Louisville, KY, with the Commissioner's Auction? My uncle got a deal there, but I have heard of many people paying more than 100% of property value. Anyone have personal experience? I'm going to attend one without bidding just to see the atmosphere and methods of the sale.

Thanks!