Anyone in Southern Louisiana? Need some help/advice please!
New to Real Estate · Member since 2023 · 10 posts · 0 votes
Anyone in Southern Louisiana? Need some help/advice please!
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Investor · Baton Rouge, LA · Member since 2019 · 30 posts · 15 votes
3yHey Olivia welcome to Southeast Louisiana! My wife and I are on a similar path and started our investing journey two years ago with a live in flip. Since then, we have done 6 renovations. The most important thing is that y'all see eye to eye and that your desire to live for a living is strong.
Covington is a great place, my wife and I live were born and raised in Baton Rouge and we often toy with the idea of moving out there (if we don't leave the state). It has certainly seen a ton of appreciation in the past 5 years, along with Mandeville and Madisonville. I actually have some clients and friends who are moving from California for the husband to work for the Marines in Nola and are shopping for a home in Covington.
I think your plan to buy a multifamily home with the VA loan is genius. I love when I hear of a young family wanting to go the house hacking route. I truly believe if you pick the right home in a good area that it's a decision you'll always be happy you made.
Of the towns on the Northshore, I'd say you've got the right ones in mind - Covington and Mandeville. If you want a kickass agent out there I have a good friend who is helping my friends from CA with their search.
Hammond is another great option. I lived there for 7 years and still visit friends there a few times a year. I also work with clients there and I'm always watching the multifamily market in and around downtown bc it's such a stellar area and a place that I'd like to buy multifamily in the future. If y'all haven't spent any time in Hammond yet, I would suggest y'all book an airbnb in the heart of downtown on the west side of the railroad tracks (or close to the tracks on the east side) and just live like locals for a weekend. I have some great suggestions for food and drink if y'all decide to do that. The locals are super warm and they have lots of good food and drink there.
Baton Rouge is my home town, and it's where we exclusively invest so far. We invest in multifamily. Baton Rouge is a very stable market because of all of the oil, gas and petroleum industry, big Universities, and of course it's the state capitol. There are a lot of good areas with multifamily homes, but the best area is Mid City South. I could break Baton Rouge down a lot more if you'd like, just let me know.
Welcome again. I hope you're settling in well so far. Holler if I can answer any questions or break down Baton Rouge more I'm always open to chat.
13 Replies
- 3yJason WrayPro MemberBanker · Nationwide · Member since 2020 · 2k+ posts · 1k+ votes
Olivia,
Reach out to Sheina Lassalle "Fancy homes" in LA she is also a member on here Bigger Pockets. I have worked with her mutliple times and she is a great Agent/area guru.
- 3yStephen KeigheryBusiness MemberRental Property Investor · New Orleans, LA · Member since 2018 · 716 posts · 555 votes
@Olivia Armstrong you should attend the North Shore REIA and you will meet lots of active investors that will give you their opinion on the best areas. @Courtney Fricke runs the event, she can share some details
Home Buyer Louisiana4.855 Reviews - Investor · Baton Rouge, LA · Member since 2019 · 30 posts · 15 votes3y
Hey Olivia welcome to Southeast Louisiana! My wife and I are on a similar path and started our investing journey two years ago with a live in flip. Since then, we have done 6 renovations. The most important thing is that y'all see eye to eye and that your desire to live for a living is strong.
Covington is a great place, my wife and I live were born and raised in Baton Rouge and we often toy with the idea of moving out there (if we don't leave the state). It has certainly seen a ton of appreciation in the past 5 years, along with Mandeville and Madisonville. I actually have some clients and friends who are moving from California for the husband to work for the Marines in Nola and are shopping for a home in Covington.
I think your plan to buy a multifamily home with the VA loan is genius. I love when I hear of a young family wanting to go the house hacking route. I truly believe if you pick the right home in a good area that it's a decision you'll always be happy you made.
Of the towns on the Northshore, I'd say you've got the right ones in mind - Covington and Mandeville. If you want a kickass agent out there I have a good friend who is helping my friends from CA with their search.
Hammond is another great option. I lived there for 7 years and still visit friends there a few times a year. I also work with clients there and I'm always watching the multifamily market in and around downtown bc it's such a stellar area and a place that I'd like to buy multifamily in the future. If y'all haven't spent any time in Hammond yet, I would suggest y'all book an airbnb in the heart of downtown on the west side of the railroad tracks (or close to the tracks on the east side) and just live like locals for a weekend. I have some great suggestions for food and drink if y'all decide to do that. The locals are super warm and they have lots of good food and drink there.
Baton Rouge is my home town, and it's where we exclusively invest so far. We invest in multifamily. Baton Rouge is a very stable market because of all of the oil, gas and petroleum industry, big Universities, and of course it's the state capitol. There are a lot of good areas with multifamily homes, but the best area is Mid City South. I could break Baton Rouge down a lot more if you'd like, just let me know.
Welcome again. I hope you're settling in well so far. Holler if I can answer any questions or break down Baton Rouge more I'm always open to chat. - Real Estate Agent · Baton Rouge, LA · Member since 2017 · 82 posts · 85 votes3y
I also invest in small multifamily properties in Baton Rouge and have done a couple of live-in flips. The housing market in BR can be maddeningly expensive in certain areas for a city this size, though it has cooled somewhat over the past 12-months or so.
In the right areas BR tends to be a fairly stable market with moderate growth potential (the big employers/tenant draws are petrochem and supporting industries, LA state goverment and LSU). You aren't likely to see massive amounts of appreciation, but you are also less likely to see spectacular bust cycles like in other markets, as those three tenant sources aren't going anywhere anytime soon.
- Investor · Covington, LA · Member since 2012 · 517 posts · 317 votes3yI live in Covington and am a licensed real estate agent and appraiser. The biggest question is how much have you been approved for / can afford ? What is your price range. There isn't a lot of multifamily properties in Madisonville,Mandeville, Covington areas. Slidell will have more to offer in a lower price point. Hammond and Baton Rouge would have the largest multifamily markets, both have large universities and that helps a lot.
Quote from @Olivia Armstrong:
Hey everyone! I'm new to real estate and BP :) My fiance and I just moved to the Covington area as he got stationed in New Orleans with the military. Our goal is to invest in real estate, and build a portfolio which allows us to live/experience life rather than working a 9-5. Our initial plan is to use the VA loan to buy a multifamily, live in one of the units until we move on elsewhere, and rent the rest. We are new to the area (and real estate) and wanted to gain some insight on the good/bad areas to invest in. We are open to Covington, mandeville, hammond, southern baton rogue (just would like to keep our commute under 1.10 or so) That being said, if anyone is familiar with the general southern Louisiana area, we would greatly appreciate the advice. Looking for a family friendly, safe flood zone, stable economic area! Thank you all in advance!
I just did a search in the MLS for all of St. Tammany Parish and there are only 7 active listings for multifamily (doubles). 3 in slidell, 1 each in Covington, Abita Springs, Mandeville and Pearl River. There just isn't a lot that comes available in this area and its competitive. - Investor · New Orleans, LA · Member since 2017 · 336 posts · 148 votes3y
Hi Olivia,
I was tagged in this post by Aussie Steve in the comments above. I run the Northshore Real Estate Investors Association. We meet each month in Covington and have been for 5+ years.Our meetups are free to attend and all are welcomed. We meet on the second Tuesday of each month at the WeStay Suites in Covington from 630-830PM and then head to Chimes from 845PM onward. Great time of networking and to learn with likeminded folks in a no sales pitch atmosphere.
Feel free to find me on social media too. We post our events on FB around the first of the month.
As far as the area goes, New Orleans is known for its duplexes but the Northshore is lacking in inventory. If you are dead set on that I would suggest one of two things, build from the ground up or be open to it either taking time for inventory to become available or that it may look different like an in-law suite or two houses on one lot.I have been in real estate in the area for nearly 10 years. Happy to help. Born and raised in Slidell to feel free to reach out if need be.
- New to Real Estate · Member since 2023 · 10 posts · 0 votes3y
Quote from @Stephen Keighery:
@Olivia Armstrong you should attend the North Shore REIA and you will meet lots of active investors that will give you their opinion on the best areas. @Courtney Fricke runs the event, she can share some details
thank you! I will definitely look into this, as I would love to connect with other local investors!
- New to Real Estate · Member since 2023 · 10 posts · 0 votes3yI will for sure do this! Thank you for the info, greatly appreciated.
Quote from @Jason Wray:
Olivia,
Reach out to Sheina Lassalle "Fancy homes" in LA she is also a member on here Bigger Pockets. I have worked with her mutliple times and she is a great Agent/area guru.
- New to Real Estate · Member since 2023 · 10 posts · 0 votes3yHey Jonathan! Thank you so much for such a detailed response. I really appreciate all of the info and advice! We love the north shore area but the problem we’ve run into is the very scarce multi family market :( We’ve considered Baton Rogue but since I will be wrapping up there shortly and my fiancé works for the marines down in NOLA, we are trying to find something a little closer! We’ve also toyed with the idea of buying a single family for the short time we are here then converting it into a short term rental once we get our next duty station. That being said, since this is our first home purchase for the both of us we are trying to learn as much as we can and weigh all our options! Thank you again !
Quote from @Jonathan Duhon:
Hey Olivia welcome to Southeast Louisiana! My wife and I are on a similar path and started our investing journey two years ago with a live in flip. Since then, we have done 6 renovations. The most important thing is that y'all see eye to eye and that your desire to live for a living is strong.
Covington is a great place, my wife and I live were born and raised in Baton Rouge and we often toy with the idea of moving out there (if we don't leave the state). It has certainly seen a ton of appreciation in the past 5 years, along with Mandeville and Madisonville. I actually have some clients and friends who are moving from California for the husband to work for the Marines in Nola and are shopping for a home in Covington.
I think your plan to buy a multifamily home with the VA loan is genius. I love when I hear of a young family wanting to go the house hacking route. I truly believe if you pick the right home in a good area that it's a decision you'll always be happy you made.
Of the towns on the Northshore, I'd say you've got the right ones in mind - Covington and Mandeville. If you want a kickass agent out there I have a good friend who is helping my friends from CA with their search.
Hammond is another great option. I lived there for 7 years and still visit friends there a few times a year. I also work with clients there and I'm always watching the multifamily market in and around downtown bc it's such a stellar area and a place that I'd like to buy multifamily in the future. If y'all haven't spent any time in Hammond yet, I would suggest y'all book an airbnb in the heart of downtown on the west side of the railroad tracks (or close to the tracks on the east side) and just live like locals for a weekend. I have some great suggestions for food and drink if y'all decide to do that. The locals are super warm and they have lots of good food and drink there.
Baton Rouge is my home town, and it's where we exclusively invest so far. We invest in multifamily. Baton Rouge is a very stable market because of all of the oil, gas and petroleum industry, big Universities, and of course it's the state capitol. There are a lot of good areas with multifamily homes, but the best area is Mid City South. I could break Baton Rouge down a lot more if you'd like, just let me know.
Welcome again. I hope you're settling in well so far. Holler if I can answer any questions or break down Baton Rouge more I'm always open to chat. - New to Real Estate · Member since 2023 · 10 posts · 0 votes3yHey Nathan! Thanks so much for the info, we really appreciate it
Quote from @Nathan McBride:
I also invest in small multifamily properties in Baton Rouge and have done a couple of live-in flips. The housing market in BR can be maddeningly expensive in certain areas for a city this size, though it has cooled somewhat over the past 12-months or so.
In the right areas BR tends to be a fairly stable market with moderate growth potential (the big employers/tenant draws are petrochem and supporting industries, LA state goverment and LSU). You aren't likely to see massive amounts of appreciation, but you are also less likely to see spectacular bust cycles like in other markets, as those three tenant sources aren't going anywhere anytime soon.
- New to Real Estate · Member since 2023 · 10 posts · 0 votes3yHey Will! We have been approved for 350k as of now. We have noticed the market in this area for multi family is very scarce so are widening our search possibly to Slidell as well. We’ve also considered a single family home for the time being and switching it over as a rental once we leave ( next 1.5 yrs or so)
Quote from @Will Sifert:
I live in Covington and am a licensed real estate agent and appraiser. The biggest question is how much have you been approved for / can afford ? What is your price range. There isn't a lot of multifamily properties in Madisonville,Mandeville, Covington areas. Slidell will have more to offer in a lower price point. Hammond and Baton Rouge would have the largest multifamily markets, both have large universities and that helps a lot.Quote from @Olivia Armstrong:
Hey everyone! I'm new to real estate and BP :) My fiance and I just moved to the Covington area as he got stationed in New Orleans with the military. Our goal is to invest in real estate, and build a portfolio which allows us to live/experience life rather than working a 9-5. Our initial plan is to use the VA loan to buy a multifamily, live in one of the units until we move on elsewhere, and rent the rest. We are new to the area (and real estate) and wanted to gain some insight on the good/bad areas to invest in. We are open to Covington, mandeville, hammond, southern baton rogue (just would like to keep our commute under 1.10 or so) That being said, if anyone is familiar with the general southern Louisiana area, we would greatly appreciate the advice. Looking for a family friendly, safe flood zone, stable economic area! Thank you all in advance!
I just did a search in the MLS for all of St. Tammany Parish and there are only 7 active listings for multifamily (doubles). 3 in slidell, 1 each in Covington, Abita Springs, Mandeville and Pearl River. There just isn't a lot that comes available in this area and its competitive. - New to Real Estate · Member since 2023 · 10 posts · 0 votes3yHi Courtney! We would love to attend! We are both very new to real estate but would really appreciate connecting and learning from others. We are becoming very aware of the shortage in this area, we actually drove down to Slidell a couple days ago to check that area out as a possibility as well. We mainly just want to purchase a property that will give us solid cash flow and be a good start to our RE portfolio.
Quote from @Courtney Fricke:
Hi Olivia,
I was tagged in this post by Aussie Steve in the comments above. I run the Northshore Real Estate Investors Association. We meet each month in Covington and have been for 5+ years.Our meetups are free to attend and all are welcomed. We meet on the second Tuesday of each month at the WeStay Suites in Covington from 630-830PM and then head to Chimes from 845PM onward. Great time of networking and to learn with likeminded folks in a no sales pitch atmosphere.
Feel free to find me on social media too. We post our events on FB around the first of the month.
As far as the area goes, New Orleans is known for its duplexes but the Northshore is lacking in inventory. If you are dead set on that I would suggest one of two things, build from the ground up or be open to it either taking time for inventory to become available or that it may look different like an in-law suite or two houses on one lot.I have been in real estate in the area for nearly 10 years. Happy to help. Born and raised in Slidell to feel free to reach out if need be.
Thank you once again for your help, I’d love to chat more and gain insight from you!
- Investor · New Orleans, LA · Member since 2017 · 336 posts · 148 votes3y
Quote from @Olivia Armstrong:
Hi Courtney! We would love to attend! We are both very new to real estate but would really appreciate connecting and learning from others. We are becoming very aware of the shortage in this area, we actually drove down to Slidell a couple days ago to check that area out as a possibility as well. We mainly just want to purchase a property that will give us solid cash flow and be a good start to our RE portfolio.Quote from @Courtney Fricke:
Hi Olivia,
I was tagged in this post by Aussie Steve in the comments above. I run the Northshore Real Estate Investors Association. We meet each month in Covington and have been for 5+ years.Our meetups are free to attend and all are welcomed. We meet on the second Tuesday of each month at the WeStay Suites in Covington from 630-830PM and then head to Chimes from 845PM onward. Great time of networking and to learn with likeminded folks in a no sales pitch atmosphere.
Feel free to find me on social media too. We post our events on FB around the first of the month.
As far as the area goes, New Orleans is known for its duplexes but the Northshore is lacking in inventory. If you are dead set on that I would suggest one of two things, build from the ground up or be open to it either taking time for inventory to become available or that it may look different like an in-law suite or two houses on one lot.I have been in real estate in the area for nearly 10 years. Happy to help. Born and raised in Slidell to feel free to reach out if need be.
Thank you once again for your help, I’d love to chat more and gain insight from you!
Highly recommend being open to Slidell/other parts of St. Tammany parish but more than that, recommend being open to Ponchatoula and Hammond if possible.
Come join us THIS coming Tuesday 9/12 at the Northshore Real Estate Investors Association. You'll find yourself in a room full of likeminded folks from the area. Doors open at 6pm, event starts at 6:30PM. Free to attend and all are welcomed. Come say HI if you can make it.
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