Getting Started in NOLA / Approximating Tax & Ins Costs
Hi Everyone - have been listening to the Bigger Pockets podcasts for a couple months now and finally joined the site today. This is my first post! My wife and I are attorneys in our early 30s here in town, but don't have any formal background in real estate. We've saved up a few pennies that we'd like to invest in real estate, but not totally sure how to get started. Most people I know locally have started by flipping houses or investing in a "double." High property taxes and the need for flood insurance also seem to be a deterrent. Would love to hear from anyone who might be willing to lend some advice on how to get started.
Is anyone willing to share their story about how they got started in New Orleans?
Also, are there any rules of thumb for approximating property taxes and insurance for our market? Can figure out the mortgage piece pretty easily, but interested in those "other/hidden costs."
Look forward to connecting!