All Forum Posts by: Braden Smith

Hi @Arisbel Martinez. I own both an investment company and a real estate brokerage here in the New Orleans area. Welcome to BP! 

The typical response rate for direct mail is 1-3%, but in a highly competitive market the response rate can be less than 1%. 

You can narrow your list down with an equity filter... mail only those that have 35-40% equity or more. 

@Naomi Boudreaux The title attorney and their staff usually track them down and make contact. Some investors will use a private investigator to find them for very sought after properties.

It is basically the same process as buying a property with a single owner once the succession has been completed. Typically, one heir will be assigned as the administrator, but all heirs must be in agreement on the sales price and terms. 

In my opinion you need to go through the necessary steps and file for judgement of possession, but I am not an attorney and don't pretend to be one online. You need to speak to a local attorney that is experienced in these matters. I can refer one if you like.

Hi @Todd Bezdek. I am an investor in New Orleans. I've been in the REI game for about 10 years and licensed for about 8 years. Welcome to BP! You've come to the right place to learn anything and everything about real estate investing.

Be sure to check out the "education" tab at the top. Lots of great resources there. A good place to start is with the free guides, such as "The Ultimate Beginner's Guide To Real Estate Investing". The bookstore has some great books and the podcast is full of valuable information.

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For local REI meetups, we have NOREIA. Check them out here: NOREIA  They have not been doing in person meetings due to Covid.

We also have the Northshore REIA: Northshore REIA  I am not sure if they are doing any in person meetings.

NOLA will have the BiggerPockets Conference on October 4-5th, 2021 at The Sheraton New Orleans Hotel which should be a great opportunity for networking.

@Darryn Oliver @Jared J Guidry I own both a local real estate investment company, REvitalize Property Solutions, and a real estate brokerage, GNO Realty. I have been in the REI space for about 10 years and licensed since 2013. I have helped many buyers with the FHA 203k loans, and I have some great local lenders and contractors I can put you in touch with that are all experienced with 203k loans. Feel free to reach out anytime if I can be of service to you!

Thanks for the shout out @Kimberly Jones! Happy to jump on a call with you @Philip Gephardt

The real estate market is expected to remain constant in 2021 and there shouldn't be any major changes. Mortgage rates are predicted to remain low, maybe rising above 3% by Q4 of 2021. Housing demand will remain strong due to low mortgage rates. Home sales are expected to increase as well as prices. New home sales are expected to increase as builders try to meet demand. 

Forbearances are down 8% from the end of October. As of November 30th, there were 2.76 million homeowners in active forbearance plans, and that represents approximately 5.2 percent of all mortgages. For perspective, the number of homeowners in forbearance is down by almost 2 million from its peak back in May. That’s a drop of 42 percent. Foreclosures will rise next year as forbearance terms end, but it will not be a dramatic increase and nothing like the aftermath of the 2008 crash.The housing market, and homeowners, are in a much better position today than they were back then. Homeowners today have many more options to avoid foreclosure, and most have equity that many did not have back then. 

Overall, I think 2021 will prove to be a strong year for the real estate market, although price growth will slow. Hopefully we will see a more normal market and all make some great money in 2021! 

Direct to seller marketing... direct mail, PPC, social media, cold calling, etc