With election uncertainty and changing economic conditions, there is potential for further shifts in the market as we move into 2025​(Nest Realty)​(Garretts Realty).For those considering investing, it's worth noting that Louisville's rental market remains strong, particularly for multifamily properties, where rent prices have increased 5.1% year-over-year, outperforming national averages​(Nest Realty).Lot's of cool things happening in the area!

I typically talk less about the market conditions until we have a general plan in place, and then we discover what may work best with the current climate (rates, fear, opportunity, demand, etc..)

On top of that I had the city coming after me for fines due to the condition of the place   This was a drug infested area of town.  

I have a kind of "secret empathy" for younger folks nowadays because they've been condition to be these impulsive, reactive hyper-drama organisms. 

They do draw a hard line with cloth wiring, even if it is in good condition and not knob n' tube. 

Key factors include the quality of the renovations, market conditions, timing, appraisals, and presentation.

These usually slow you down, since these are different contractors, and the weather can be a spoiler for below surface work. 

There’s not much else it can be unless it’s in really bad physical condition, which the PM would also notice right away. 

Key Principles:Mindset and Goals:Think Long-Term: Real estate is a long term play in most cases Set Clear Goals: Define your financial goals and how real estate fits into your overall plan.Finding the Right Property:Location, Location, Location: Invest in areas with strong economic fundamentals, good schools, and low crime rates.Cash Flow is King: Look for properties that generate positive cash flow (rental income exceeds expenses).Consider Appreciation: While cash flow is primary, also consider properties in areas with potential for long-term appreciation.Financing:Get Pre-Approved: Get pre-approved for a mortgage before you start looking at properties.Leverage Wisely: Use leverage (debt) to your advantage, but don't overextend yourself.Consider Creative Financing: Explore options like seller financing or partnerships.Building Your Team:Real Estate Agent: Find an experienced agent who specializes in investment properties.Property Manager: Consider hiring a property manager to handle day-to-day operations.Accountant: An accountant can help you with tax planning and financial management.Attorney: Consult an attorney for legal advice and contract reviews.Managing Your Investment:Maintain the Property: Keep your property in good condition to attract and retain quality tenants.Screen Tenants Carefully: Conduct thorough background checks on potential tenants.Review Your Finances Regularly: Track your income and expenses and make adjustments as needed.Example Action Steps:Set Your Goals: Define your financial goals and how real estate will help you achieve them.Educate Yourself: Read books and articles about real estate investing.

There was a pre-move out inspection where everything was determined to be in good condition and there were no deductions that would be made.