All Forum Posts by: Chuck B.

More good news for the Louisville MSA at this link.  

By my very incomplete math, there's 1,200+ new apartments coming online in the next 24 months between Shelby Park in the south, the river to the north and the CBD to the west.  Those are just the ones I Know about, I'm sure there's others.  I'm seeing the demographic push back into the "city center" pretty strongly, at least from my little corner.  

@Alexander A. I was there last night doing some make ready and forgot to take pictures.  Argh!  I'll zap you one day soon.  It's a 2%+ deal.  

We're famous!  :)  

My family has a turnkey rental available in Portland right now, a nice 3/1.  I'll get some pics today and post it over in the deals forum should anyone want to get their feet wet in Louisville.  

Thanks guys!

@Clay Smith Do you have a rep for NREIG?

@Clay Smith @Erik Hitzelberger @Mya Toohey @Pavel Reyes Valdes 

@brett Kennedy

Anyone have a good recommendation for property and landlord insurance in Louisville, Ky?  I've been using Fusting and Dugan (Safeco mostly) for a while but the rates on the last two I added are a little out of control.  I need to have an option.  

Best,

 - Chuck

@Jeremy Jackson no flood zone where I bought but not sure about all of Portland.  

If you can find a house in the highlands where one side would pay most or all of you mortgage you're winning. I had a duplex in the highlands where one half paid 90% of PITI and another where 1/3rd paid 65%. I lived in the other half of these for years for much less than I'd pay otherwise. You have to live somewhere...

@Jeremy Jackson - the tenants are a nice young couple with two good kids.  I quite like them but I like all of my tenants as I vet them thoroughly before leasing to them, including home visits.  I knew going in that I would need to do some work on that house but it was fully renovated and insulated from the inside sometime in the last 15 years or thereabouts so I also knew it had a good foundation to build on. 

@Michael Seeker I agree with a lot of what you said and I don't think Portland is going to be the next NuLu at all but I do think it's going to be more than it is today... Affordable residential gentrification.  I can see these little houses getting snapped up, renovated and stabilized with solid renters and what cost someone 40 to 60 doubling in value in the next 3-5 yrs.  Path of progress and all that.   Now, with that said, I put my bet on commercial land even though it's rented residentially right now.   The area around 26th north of Portland is one thing and what's happening in the far east side of Portland is another.  Which will see the fastest/best appreciation?   

I watched NuLu develop and just waited.... 36 months later and little shotguns that I had been looking at for 40K we're going for 100+, still in poor condition.  I promised myself I wouldn't wait this time so I have a chip on the table as of late last year.  I bought a commercial lot and a house and an extra lot next to it that are also zoned commercially.  The house is rented out sec 8 and brings $800 a month.  It was cheap at 25K but needed another 12k to make it solid.  It's literally 100 paces from the new coffee shop and bakery commissary on 17th (or is it 16th) street.  When I drive by there now there's almost always someone getting coffee or a $2 cookie.  Blows my mind...  And that's not the only coffee shop, there's another one around the corner attached to the art gallery and live event venue.  I believe the Louisville Ballet just bought a building there for their new headquarters too.  

My advice would be to spend some serious time in the neighborhood driving the streets so you know what's what, where the sketchiest areas are, etc.  It's most definitely happening, albeit slower than NULU.  

Best,

 - Chuck

Welcome aboard!

@Pavel Reyes Valdes Cogratulations!!