That is in Houston Acres, it is a very nice area. I have not seen one for rent here for that amount. However, we are moving out of the house we rented for 5 years here. I would be careful though of many older communities. The utilities can be very high, the houses in many of these communities have not been upgraded, as to electric and plumbing, heat and so forth. Ours had an old fuse box, original iron plumbing, and the original furnace.... more
I have my 3bdr/2ba condo for rent in a quiet J-town area with the amenities you're looking for. Not sure what your budget is. See
Typically the types of property available without a credit check will have underlying issues. Please be careful in accepting a lease when they advertise no credit checks. Because, as a landlord myself, I want to make reasonably sure that the applicant can and will meet their monthly obligations. Most land lords will rent to credit challenged applicants if they can give a detailed account of what happened, why it happened out of the blue and how you see it won't reasonably happen again.
Loss of job, hospital stays, family emergency are typical examples of unforseen circumstances.... more
I hope you will love living in Louisville. I have a group of friends that live in Corbin and we have a great office in London, KY as well. I would suggest talking to any friends, family and employer connections to get an understanding of Louisville and what areas would best interest your family for a home to start with.... more
Hello. I have 2 condos in Highlands Lofts at 1231 Bardstown Rd. A 1,400 SF 2 BR / 2BA that rents for $1,750/mo. and a 2,600 SF, 3 BR / 3.5 BA that rents for $2,300/mo. You can see floor plans and more pictures at www.highlandloftscondos.com
I think of this area like the Highlands and Cherokee Park when I was renting in my teens and early twenties. Many old mansions are cut up into really magnificent apartments. I would drive around that area and see what you like and look for rent signs. They go so fast! Talk to friends who live in the area to see if anything is coming available. Stop at Ermine's coffee shop and ask them. They see all the people who live there. Craigslist is so full of scams on rentals. Some imposters are showing repo homes, taking the deposit, and leaving the poor renter high and dry. Good Luck!... more
Hello there! Great that you have chosen Louisville, KY to attend school. I attended the University of Louisville, many years ago and I have many friends who attended other schools in the Louisville area and found it to be a great area to attend school.
Are you planning to purchase a residence such as a condo, or perhaps buy a single-family home?
If you are seeking a condo, I have a condo which will be on the market soon, and is perfect for a college-student or even a medical-student in the area.
Being able to get to class easily I would think is important and there are many areas that I can suggest. Old Louisville has always been a a favorite to UL students, both because of the proximity to campus and its fun things to do! Another great area to live would be the Highlands which has always been a favorite for college students and young professionals and families!
If you are planning to attend college at Bellarmine, Spalding, Spencerian,, Sullivan or perhaps JCC or Louisville Seminary, I can help you find homes in those areas too! Just let me know how I can help?... more
I have a new rental that fits your criteria in J-Town (Hurstbourne Woods Subdivision). 4 bedrooms, 2 l/2 baths, loft, finished basement, 2 car attached garage. Rent is 1700 per month and home was built in 1994. Home is in great condition and is located on a cul-de-sac in a great neighborhood. This property will be available to show on Sunday, 1/12/2014. Let me know if you have any interest in viewing this property. Thanks... more
Personally I think it's worth a trip to Louisville to get a feel for the area and personally interview 2 or 3 Realtors. It is a great way to get to know your way around the area. If, for instance, great schools are important, you will want to carve out some time to visit schools.
If you want some acreage, you will want to look at neighboring counties to see how much more your money can buy.
Then, after you have pretty much settled on your area(s) of choice, come in 2-3 months early and shop till you find a home.
The listing this guy has on Trulia is a scam. If you get any contact from him, plug in the corporation he says he's doing "mission" work for in Google and watch the scam red flags pop up. I fell for it, but I didn't send him any money. Which is what he's looking for before he'll even let you look inside the place, which he probably doesn't even own....Ridiculous.... more
I spoke to a gentleman last week that lost twenty grand doing this. Trying to â€œwork aroundâ€ the federal system that is in place to protect you increases your risk a lot more than you realize. Do you know how a mortgage underwriter will interpret the contract when it comes time to pay off the seller? They will follow the mortgage underwriting guidelines in place at that time. Most loan officer could not tell you how they will view it today much less a year or two from now. What I know for sure is that underwriting guidelines are constantly changing. They will be different a year from now. A new update to DU, Fannieâ€™s underwriting software, will be released later this month, I hear some mortgage products are being terminated and others tightened again. How will it, or will it impact a lease option? Exactly, we donâ€™t know!
The reason I am being so specific is because potential home buyers with some type of issue that is keeping them from getting a mortgage believe rent to own is some type of magic pill, it isnâ€™t! It is usually a cyanide capsule. In the past couple of decades I may have financed one take out loan for one of these puppies. In the past three years dozens of people have told me how much money they lost on a rent to own deal. The reason the subject comes up is because they no longer have a down payment because they lost it on a rent to own so they are inquiring about down payment assistance.
I canâ€™t tell you not to do this, but I can advise you not to run in blindly without researching the next step or phase.
On a similar subject, most people that try something like this have been given a minimum timeline for fixing the problem by some well-meaning loan officer. Whatever timeline they gave you, triple it and your risk ratio drops as far as fixing the problem. This doesnâ€™t improve the probability of a rent to own working out as planned but it will be a more realistic eligibility target. If you can fix the problem soon that is great but boxing yourself in a corner on a minimum timeline is dangerous. Theory and the real world seldom jive when it comes to eligibility timelines.
So, if you still want to do this: 1. Research 2. Get expert legal advice 3. Dissect the underwriting guidelines for the type of mortgage you plan to use 4. Triple the timeline
I hope my 2 cents worth protects your hard earned money, good luck,
NMLS # 6395
Financing Kentucky One Home at a Time
I answer questions about financing real estate based on my decades of experience dealing with mortgage underwriters. This answer is my personal opinion, has not been reviewed or approved by the company I work for. I do not offer legal or tax advice, if you need answers from an attorney or CPA find one knowledgeable in your local market.... more