All Forum Posts by: Kelly Bankes

My husband and I are “mom and pop” investors in Louisville with 7 units. Happy to answer any questions or boots on the ground perspective.

When we did STR we couldn't tell much of a difference in utilities from what we used (that I remember). Side note, in Louisville, make sure your property meets the 600' (?) rule before moving forward.

It’s not just the selling market that’s hot right now. Rentals Are “flying off the shelves” for all me and my landlord contacts, too. I could have rented every unit I own twice over just by people calling me through word of mouth. You should have no trouble filling it. In fact, DM me and I’ll send you a name or two.

Way to go—thanks for the update and keep us posted on the project 

Just a passing thought...don’t get lost in the weeds. If you have the capital to buy your first house hack, start shopping and set a goal to have it by x date. If you don’t have the capital yet, do what you have to (extra jobs, wholesale, partners, etc.) to get it and get in a property by y date. The journey of 1,000 miles starts with your first step. My husband and I are “mom and pop” buy and hold investors in Louisville. Happy to chat if you ever need a sounding board!

Hi Jesse, I’m an investor in Louisville and love helping new investors. Bought my first house in late 2014. Up to 7 units now. Happy to connect!

A few ideas...are you able to get it at a low enough price you could flip/wholesale it to another investor? Could you find a partner to be more “hands on” with a flip? Do you have the money to pay contractors to do most of the work without the hands on fixing yourself; or if not now...could you pay holding costs for 3 months until you have the cash or get a hard money loan? If this is your first deal AND the numbers work you might find a way to make it work so that you build some confidence/momentum for the future. If the numbers don’t work don’t hesitate to walk away. Happy to talk more if you want to DM me!

I second Kevin’s advice on getting on every wholesale list you can. Two of my last three deals have come from wholesalers. If you’re not sure how, call the “We buy houses numbers” you see on signs or get on postcards and tell them you want to be added to their buyer list.

You may consider widening your search criteria initially, too. It doesn’t mean you have to buy something outside your interest area, but it will let you know what is out there and give you more experience running other types of deals.

I would also recommend driving for dollars. Even if it doesn’t end up in a deal, it will help you know the neighborhood you’re most interested in very, very well and make you more confident to move forward when you have found something.

My husband and I are “small time” landlords in Louisville (7 units in 5 years). Happy to talk with new investors! Shoot me a message with any questions.

Hi Dakota, welcome to BP. My husband and I are Louisville investors. We’re at 6 properties/8 units, so still relatively small but have several years of experience now. Happy to chat sometime.