Wholesaler · Denver, CO · Member since 2013 · 126 posts · 39 votes
I will be in town for the fest this weekend and wouldn't mind hearing about the rental market in the warehouse, quarter and Marigny areas. I have rentals in Chicago, Denver, soon to be DFW and have always thought about the big easy.
Rental Property Investor · Denver, CO · Member since 2013 · 4k+ posts · 2k+ votes
11y
@Jim Tiernan I lived and worked in Louisiana for two years. It is a completely different world from the other places you have mentioned. My advise is to go very slow and find some out of towners who have been successful in what you want to do and pick their brains.
Investor · Prairieville, LA · Member since 2015 · 311 posts · 424 votes
11y
Relatively low rent for sky high purchase prices is those areas described. If you would like to cash flow down there, you might look at some of the suburbs, i.e. the Westbank.
Investor · New Orleans, LA · Member since 2012 · 968 posts · 747 votes
11y
Hi @Jim Tiernan. I'm an investor friendly Realtor here in the New Orleans area. Our real estate market is extremely strong here and so is the competition, which is driving up prices. Our market has become saturated with investors and the national gurus having been coming here doing their seminars non-stop for the past year or two making the situation worse as many, many more wannabes enter the market. It is getting harder and harder to find a good deal and margins are being squeezed tighter and tighter. There are still areas where deals are to be found, but warehouse district, french quarter and marigny/bywater areas are at a premium. You won't find any good deals in those areas and if you want to invest in those areas be prepared to spend top dollar. Our rental market is seeing massive demand all over the city. More and more space is being built to keep up with demand, but rentals are at over 95% occupancy. They fill up as fast as they can be built. If you have any other questions or just want to chat feel free to reach out anytime.