Any information on Portland or New Orleans?

Question

Son wants to go to school in either Portland or New Orleans. As an investor and his official sponsor, I can't help but wonder about the RE market in either of these cities for long-term "appreciation" plays. I'll probably buy a Duplex or something while he goes to school.

New Orleans seems like it has room to grow, but there's really no telling. Portland seems much more stable.

The price ranges for the Duplexes I've been looking at is roughly the same in both areas. So it seems like Portland would be the better choice from an RE standpoint, but I'm not sure.

What do you think about these markets BP?

Kimberly Jones · Answer

Transitional neighborhoods.....the best way I can answer that is to say that the entire city is going through change at this point. Gentrification is the #1 hot topic these days, up there with AirB&B.

I have been focusing on properties in the upper 9th ward, St Claude being my favorite. Two years ago I swore I would not buy in St Roch but today I do. New Marigny as well. There is a lot of activity going on down in Holy Cross but I am still afraid to venture into the lower 9th ward because I am not confident in the flood protection there. Mid City is going through swift change with the new Medical Center and parts of Uptown (which includes Broadmoor) are seeing a lot of activity.

It is actually easier to tell you the parts to stay out of. Don't go to Hollygrove or Gert Town. Central City scares the crap out of me but I hear that the bad is slowly but surely being squeezed out. New Orleans East is kind of tricky.

The question is, are you going to be looking for something that your Son can move into or are you going to try to pick up a rehab? What price range are you thinking?

I would definitely go for at least 2 units. The good thing about New Orleans is that doubles are in abundance.

Marcia Maynard · Answer

Portland Oregon is a tight REI market right now. Low inventory and high prices. Rental rates are shooting through the roof and many people can't afford to rent in the city anymore.

Neal Collins · Answer

As someone with strong ties to both of those cities I think you could do well in either market. I can tell you that on a dollar to dollar comparison, you can buy a whole lot more house in New Orlean. The city can be a bit disfunctional but that's all part of the experience. I honestly would let the choice ride on the school more than the real estate market.

Kimberly Jones · Answer

New Orleans is seeing good times these days. Values are going up steadily and there are rehabs going on everywhere you look.

Michael Dolan · Answer

I live and work in Portland.  I agree with Marcia.  People are making money here.  Capital helps.  Prices have increased a lot in the past two years.  I don't think it can keep going.

Braden Smith · Answer

I second what @Kimberly Jones said.

Joseph Burke · Answer

Thanks for the help. I took a trip down there a while ago and did see a lot of rehab's going on.

What do you think the transitional neighborhoods are right now? Broadmoor looked like it was going through a bit of that, but I didn't get to see enough of the city to make a call.

Any information on Portland or New Orleans?

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