All Forum Posts by: Braden Smith

Quote from @Matthew Kwan:

HI Conor, 

I am no expert of the NOLA market however I just visited there a week ago. The hosing over there is definitely affordable. I was living at a Duplex near the French Quarter which is considered one of the prime tourist areas of NOLA. The air bnb host said that he bought it for $160k 5-6 years ago and that it definitely cashflows but nothing too crazy tho. As he did mentioned the housing insurance and flood is definitely on the higher due to the extreme weather conditions that happens throughout the year. Just wanted to share my intake of the city!

@Carlos Valencia @Albert Bui

In 2023, any double under 200k in New Orleans is going to be in terrible condition and/or in a terrible area. And New Orleans definitely has some war zones to be avoided.

Here are some current market stats from the MLS for New Orleans:

Currently, there are 295 doubles/duplexes that are active listings on the MLS in New Orleans.
The average list price is $412,979 and the median list price is $345,000.
The median price per foot is $169.36/sqft and the average price per foot is $181.48/sqft.

The median price point for single-family homes in NOLA is $329,000 and the average is $428,427. 
The median price per foot is $200/sqft and the average price per foot is $205/sqft. 

This article has some good info on the areas surrounding New Orleans:  Cities with the fastest growing home prices in New Orleans metro area

Here's an article regarding the insurance situation in Louisiana:  Insurance Shock: Homeowners' policies skyrocket - bad for all; worse for some

Homeowners Rate Comparison Guide An Online Tool to Help Shop Your Rate

Jefferson Parish banned short-term rentals in residential areas.

The Breakdown: What are the short term rental rules surrounding New Orleans?

Jefferson Parish short-term rental ban in effect

Jefferson Parish, Louisiana - Code of Ordinances Chapter 17.5 - LODGING ACCOMMODATIONS

@Guy Mitchell I am both a real estate investor and licensed broker in Louisiana and Mississippi. Happy to chat anytime...

Many local investors use @Stephen Leonard with Pelican Realty for property management.

See here:  Professional Property Management Specialists For Your Home Investment

China has been building all kinds of things with 3D printing for years...

Chinese Company Constructs the World's Tallest 3D Printed Building

China: Firm 3D prints 10 full-sized houses in a day

Good evening. I own both a real estate investment company and a real estate brokerage in New Orleans. Currently, the city of New Orleans has implemented a moratorium on all STR registrations and licenses for the time being.

See the following news articles for more info:  

New Orleans City Council passes total ban on new residential short-term rental permits

New Orleans City Council extends temporary ban on new residential short-term permits

See here for info from the city:  Current State of Residential Short Term Rentals (RSTRs)

Check out this website with info on bond for deeds in LA:  Louisiana Bond For Deed Transactions

I second R.W. Krebs Professional Land Surveying, LLC

You can also try these:

Gilbert, Kelly & Couturie Inc.

KLS Group Inc.

Dading Marques & Associates LLC

Long term rentals always stay rented and rents are up by a good bit, but the hard part is finding something priced to where the property will actually cash flow since values/prices are way up also.

Short Term Rentals are very tricky in New Orleans. The city last updated the STR rules in December of 2019. Those rules state that you must have a homestead exemption in place to legally operate an STR, which basically means the owner lives on the premises. Properties that are zoned mixed-use or commercial can be an exception. But they just made some changes to the rules for commercially zoned properties that are much more restrictive from what I heard.

See the following links for more info:

Short Term Rentals

OWNING SHORT TERM RENTALS IN NEW ORLEANS

A Guide To Orleans Parish's New Short-Term Rental Rules

Here are a couple of recent news articles:

Weak enforcement of short-term rental rules could cost NOLA millions

New Orleans council wants more muscle in fight against illegal short-term rentals

Hi . Short Term Rentals are tricky in New Orleans. The city last updated the STR rules in December of 2019. Those rules state that you must have a homestead exemption in place to legally operate an STR, which basically means the owner lives on the premises. Properties that are zoned mixed-use or commercial can be an exception.

See the following links for more info:

Short Term Rentals

OWNING SHORT TERM RENTALS IN NEW ORLEANS

A Guide To Orleans Parish's New Short-Term Rental Rules

Here are a couple of recent news articles:

Weak enforcement of short-term rental rules could cost NOLA millions

New Orleans council wants more muscle in fight against illegal short-term rentals