All Forum Posts by: Joel Kleyer

You should utilize AirDNA's MarketMinder and Eliotandme.com (however this may be going away) to analyze potential revenue from such a venture.  Familiarize yourself with Louisville's short term rental regulations as well (https://louisvilleky.gov/government/planning-desig...).

Good luck!

My suggestion: make a list of local banks and start calling and emailing them all.  Do this until you find at least 3 good ones and compare each of them every time you need financing.  That's how I ended up using Commonwealth Bank, which one of my investor friends had mentioned to me anyway.  I've been working with Ricky Totten and he has been very responsive and great to work with.

I was happy for the news, but I do think increased regulation is coming as Louisville is behind other neighboring cities.  Hopefully it's mostly investor friendly.

Probably depends on how the property is zoned.  If it's zoned commercial, then these regulations would not apply.

This is unfortunate, but I don't see Louisville totally banning non-owner-occupied properties.  It just brings in too much revenue for the city.

I'd like to hear if anybody has experience with them as well.  I'm looking for a financing partner and this came up as an option.  Their interest rates seem high though with the lowest being 6%.

Use the 50% rule to account for expenses outside of P&I as a barometer for your other expenses.