All Forum Posts by: Raphael Collazo

The Louisville Real Estate Investor Meet Up group is for aspiring, beginning and full-time real estate investors interested in networking with other like-minded individuals. During our monthly meetings, we share ideas, learn from one another and host speakers who talk about topics related to real estate investment.

In this meeting, we will host Tyler Chesser, one of Louisville's top commercial brokers and a fellow investor, who will share his story of why he got started in real estate and how he maximized his performance through personal development and growth.

After his presentation, we'll open up the floor for a Q&A session. The event begins at 6:30 pm and the speaker will start around 7:30 pm. Come join us for a night of networking, learning and enjoyment as we utilize the great space provided to us by The Manhattan Project!

Hey @Russell Grevler!

Welcome to the BP community! I'm a huge fan of this tight-knit community and BP's content (books, podcasts YouTube channels etc.) is some of the best around. Although I'm relatively biased, I'm quite optimistic about the future of the Louisville real estate market. Over the last decade, we've experienced significant growth in the manufacturing space. In fact, Since 2011, jobs in the manufacturing sector have increased by over 30%. This is due in part to our strategic location (access to almost 60% of the US population within 1-day's drive) and the favorable business climate the city has fostered over the years. 

Because of this, we've had various large companies make substantial monetary investments in the area in recent years. For example, UPS, Ford and GE have invested hundreds of millions of dollars in expanding their footprint in the city. 

Ford: https://www.bizjournals.com/louisville/news/2019/11/02/ford-planning-1-billion-investment-in-louisville.html
GE: https://www.bizjournals.com/louisville/news/2018/10/01/ge-appliances-investing-200-in-louisville-creating.html
UPS: https://www.courier-journal.com/story/money/companies/2019/09/26/ups-invest-750-million-1000-jobs-louisville-area/3774063002/

Also, large healthcare and insurance companies are quite prevalent in the city. Humana, Atria Senior Living, Norton Healthcare and Kindred Healthcare are just some of the many organizations that call Louisville home. 

Finally, the cash flow achieved by investing in this market is much more competitive than the coasts. It's not uncommon to find properties that meet the "1% rule" and if you want to achieve scale by investing in commercial properties, your dollar goes much further here. These are just a few of the economic drivers that I believe make investing in the Louisville real estate market so appealing. 

All the best,

Hey @Megan Gleeson!

My insurance agent is Paul Webel from Foundation Insurance Group. He was able to save me 30% on my insurance for my multifamily property (4-units). He's an awesome guy and super responsive. If you'd like, I can send you his contact info.

All the best,

Hey @Michelle Castaneda!

If you're looking to invest in SFH's, I'd recommend speaking to @Rob Bergeron. He's one of the best in the Louisville area!

If you're looking to invest commercial property (i.e. multifamily (4+ units), retail, office, storage facilities etc.), I'd be happy to help!

All the best,

Way to go! Keep killing it my friend. 🙌

I second the "house-hacking" suggestions. According to a recently published "Business Insider" article, the average American spends close to 35% of their household income on housing. If you were to purchase a duplex, triplex or quadplex and rent out the other units, you could potentially eliminate this expense entirely. This would help reduce the money you need to achieve financial independence closer to $2,500-3,000 per month instead of $4,000. Along with that, since you'd be living in the property, you would qualify for "owner-occupant" financing which would reduce your down payment to as little as 3.5% (FHA).

I bought a quadplex in November 2018 and I've been house hacking it ever since. The rents from the other tenants ($1,830 per month) are enough to cover my mortgage, taxes and insurance payment for the property ($1,750 per month). I plan on using this same strategy in 2020. It's a repeatable process that could help you achieve financial independence in the next 5-7 years. Hope this helps.

All the best,

Hey @Alex Prestigiacomo,

Welcome to BP! I'm a huge fan of this tight-knit community and BP's content (books, podcasts YouTube channels etc.) is some of the best around. As far as investing, I did something similar to what you're looking to do. I purchased a 4-plex in Old Louisville in November 2018 which I'm currently "house-hacking". It's been a great experience thus far and I plan on using the same strategy to purchase my next property in the coming months.

Have you attended any local real estate investor meet-up groups to establish relationships with local investors? If not, I highly encourage you to do so. One of the most popular groups, R.E.I.A (Real Estate Investor Association) has chapters in most major cities. Our local chapter has over 250 members, many of whom are extremely active in the market and have a wealth of knowledge they're willing to share.

Also, @Luke Neubauer and I run a free real estate investor meet up group that meets the last Wednesday of every month at the "Manhattan Project" restaurant. As part of the meetup, you get a chance to interact with like-minded real estate investors and listen to engaging speakers who talk about topics related to real estate investing. Next month (1/29/2020), we will host a panel of lawyers who will address legal questions related to their area of expertise. The lawyers in attendance will include:

1) Nicole Willet Jones - Estate Attorney
2) Stuart Alexander - Business Attorney
3) Anne Sholtz - Eviction Attorney
4) Jenny Fields - Closing Attorney

It should be a great event with lots of lively discussions. Hopefully, you can make it out!

All the best,

@Hai Loc

Although I don't disagree that Amazon has disrupted the market, I'm still seeing a sizable amount of retail activity along "high traffic" roadways. Visibility still has value and there will always be businesses that are willing to pay for that kind of exposure.

Not only that, but some "retail" businesses such as nail & beauty salons, bakeries, restaurants, specialty stores and even service businesses (i.e. doctors, dentists, accountants, financial planners, etc.) have been relatively unaffected by the change. Regardless of how large Amazon gets, people will still need to leave their homes to purchase certain goods and services. That's why I believe retail buildings in high-traffic areas with great visibility will still make for solid investment opportunities in the future. 

All the best,

I consistently hear pundits and investors talk about the "retail apocalypse" and how physical retail is dead. Although I do agree that this sector has been hit especially hard by the ascent of Amazon and other online retailers, physical retail is not going away and it will continue to evolve over time. This changing business landscape offers unique opportunities for business owners and investors looking to capitalize on the disruption.

What are your thoughts on the new "retail revolution"?

https://www.forbes.com/sites/stevendennis/2018/03/19/physical-retail-is-not-dead-boring-retail-is-understanding-retails-great-bifurcation/#47ada50d1981

The Louisville Real Estate Investor Meet Up group is for aspiring, beginning and full-time real estate investors interested in networking with other like-minded individuals. During our monthly meetings, we share ideas, learn from one another and host speakers who talk about topics related to real estate investment.

In this meeting, we will host a panel of lawyers who will address legal questions related to their area of expertise. The lawyers present will include:

1) Nicole Willet Jones - Estate Attorney
2) Stuart Alexander - Business Attorney
3) Anne Sholtz - Eviction Attorney
4) Jenny Fields - Closing Attorney

After asking our preset questions, we'll open up the floor for a Q&A session. The event begins at 6:30 pm and we'll start the panel around 7:30 pm. Come join us for a night of networking, learning and enjoyment as we utilize the great space provided to us by The Manhattan Project!