All Forum Posts by: Braden Smith
Braden Smith has started 22 posts and replied 910 times.
Post: Evaluating Properties Analysis
- Investor
- New Orleans, LA
- Posts 962
- Votes 743
@Lemanuel Turnipseed I am both an investor and a licensed realtor in New Orleans, so I watch the market very closely. Multifamily properties are in high demand here, and because of that prices are at a peak.It is hard to find properties that will cash flow. The market here has reached a point of being ultra competitive. Good deals are few and far between, so if and when you come across one you have to be ready to jump on it immediately.
Post: New Orleans homeowner seeking seller agent and advice
- Investor
- New Orleans, LA
- Posts 962
- Votes 743
Hi @Shawn Mitzel. I am both an investor and a licensed realtor in New Orleans. I have been licensed since 2013. I would be happy to have a conversation with you about your situation.
Post: Evaluating Properties Analysis
- Investor
- New Orleans, LA
- Posts 962
- Votes 743
Not enough info. Single family or multifamily? What type of investment? Wholesale? Fix and flip? Buy and hold? BRRRR? Etc, etc, etc.
See the Tools tab on BP, there are calculators there: https://www.biggerpockets.com/real-estate-investment-calculator
Post: New Orleans STR- need a local manager!
- Investor
- New Orleans, LA
- Posts 962
- Votes 743
Hi @Cozettee Rousell. I am both an investor and a licensed realtor in New Orleans. I have a client that manages STRs. He has some himself and manages a few for others also. I can check and see if he has any availability if you like. Just let me know...
New STR rules in NOLA just took effect on Dec 1, 2019. All STRs now require a homestead exemption in place (meaning the owner lives on premises) unless the property is zoned commercial or mixed use then there are some exceptions.
See the following links:
https://www.nola.com/news/article_c390da62-ba00-11e9-b876-237e289ed3ef.html
https://www.nola.gov/short-term-rentals/new!-short-term-rentals/
Post: Any REI in the Louisiana area?
- Investor
- New Orleans, LA
- Posts 962
- Votes 743
Hi @Xavian Rimmer. I am both an investor and a licensed realtor in the New Orleans area. Welcome to BP!
Post: New Orleans STR/Airbnb
- Investor
- New Orleans, LA
- Posts 962
- Votes 743
Hey @Fredie Robinson. I am both an investor and a licensed realtor here in New Orleans. I am very familiar with the current STR rules and regulations. Would be happy to jump on a call with you...
Post: Looking for an agent referral in New Orleans Louisiana
- Investor
- New Orleans, LA
- Posts 962
- Votes 743
Hi @Rob Drum. I am both an investor and a licensed realtor in New Orleans. I have been licensed since 2013. I would be happy to help.
Thanks for the tag @Robert Leonard!
Post: Sales (or Marketing) Conferences for Phone Soliciting?
- Investor
- New Orleans, LA
- Posts 962
- Votes 743
John Martinez is the REI sales master. Check him out: https://midwestrev.com/
Post: Best advice for newbie?
- Investor
- New Orleans, LA
- Posts 962
- Votes 743
Keep in mind that there are other costs associated with any purchase... inspections, insurance, closing costs, etc. With a VA loan you will get 100% financing, and you can use the VA loan with a multifamily, but you will still come out of pocket for some costs. With an FHA loan you will need a minimum 3.5% down and closing costs typically fall within the 3-5% range. You may be able to negotiate with the seller to have them contribute to your closing costs and prepaids.
Post: Need a help with strategy at 56 yrs old
- Investor
- New Orleans, LA
- Posts 962
- Votes 743
Hey @Ty Upshaw. I am both an investor and a licensed realtor in New Orleans. I have been in the REI world for about 10 years and licensed since 2013. I would be happy to chat. Let me know when you have some time.
Thanks for the tag @Robert Leonard