All Forum Posts by: Damon Aniton
Damon Aniton has started 18 posts and replied 76 times.
Post: What Does Real Cash Flow Look Like in 2025?
- New Orleans, LA
- Posts 80
- Votes 35
Quote from @Dan H.:
My view is if you pay retail without a value add, the cash flow on a traditional LTR using conventional financing cannot justify the work and risk of residential RE in the near term. With patience virtually all RE purchases look good. I am not that patient.
So how do you purchase RE to achieve a decent return sooner than holding 10 or more years. One or ideally more of the above must not be the case.
- buy below retail. This implies off market purchase. In general off market purchases have elevated risk levels.
- have a value add. Create some sweat equity. Realize value adds typically require work and have risk
- use a rent model other than traditional LTR. STR, MTR, rent by room. Each of these require more effort than a traditional LTR.
- alternate financing: assumable, owner financing, sub to, NACA, lease to own, etc.
- be very patient. Wait for the cash flow to improve and the appreciation to add up.
good luck
I am not so sure about that first statement. I think it is more market dependent. I am looking into several properties in Kansas City and Cleveland on nothing but Redfin that will turn a decent profit.
Post: What Does Real Cash Flow Look Like in 2025?
- New Orleans, LA
- Posts 80
- Votes 35
I purchased my first property in January 2023. A duplex in New Orleans. Brand new 6 bed 6 bath up and down layout. I have both units rented on section 8 which has been fine. The only real problem I ran into was it being a poor build by the builder in ways that dont show in an inspection.
This in the long run is more of an inconvenience than anything as the state has home warranty mandates that is covering all this long term.
Since then I have completely revamped my buy box with my little more than 2 years of experience. Pushing me to mid west cities with single family and multifamily homes in that 50-120k range. Now that I know how to better and more efficiently navigate the section 8 landlord process and work within their rent price guidelines. It makes finding properties and still turning a profit easy'er.
Post: Travel + Leisure's Top 15 Cities In The U.S.
- New Orleans, LA
- Posts 80
- Votes 35
Quote from @Josh Ball:
New Orleans is interesting but not surprising. NOLA attracts a lot of corporate outings & maintains a lot of tourism (rightfully so). It also gained a lot of traction this past year with the UFC & Superbowl coming to town. Believe people started noticing the potential NOLA has for hosting large events outside of the typical jazz fest, Mardi Gras, etc.
My understanding of New Orleans STR laws is that it has changed drastically the last year or so. I haven't dug a lot into it & know there are a few STR hosts on BP operating there. If I recall correctly, the operator must now occupy the same lot as the STR itself. Basically requiring duplex or rooms instead of entire homes. I also believe they implemented a lottery system on who actually can get a STR permit within city limits.
I suppose this is a way to ensure hotels in the city remain full & active. Similar situation in Biloxi, MS where I have a STR. No permits within a certain distance of the casinos/hotels. Kind of interesting approach when it comes to maintaining tourism to your big drivers.
The real reason is the city was overrun with listings and it has drastically increased cost of living in the city. They really want to ban it in the city all together. But in the mean time they have chosen the route of making it impossible to STR.
Post: Travel + Leisure's Top 15 Cities In The U.S.
- New Orleans, LA
- Posts 80
- Votes 35
I can not speak for all those cities. But as an owner in the New Orleans area I cant recommend against it enough. I purchased my duplex at the beginning of 23 with the intent to LTR 1 unit and STR the other. This was right around the beginning of the war the city started waging on STR.
They did/are implementing things like occupancy requirements. Limiting 1 permit per square block. Doing a lottery for permits. Getting ABNB to delist properties. Adding fines and shutting off, or at least threatening, water.
The unfortunate part is I can not completely blame the city. As it was overrun with listings and cause a dramatic increase in the cost of living for local residents.
Post: Looking for Louisiana based lawyer
- New Orleans, LA
- Posts 80
- Votes 35
Quote from @Stephen Keighery:
I am sorry you need a lawyer like that Damon. I am not sure of one but if you want to talk New Orleans real estate hit me up.
It is just part of the game.
Post: Looking for Louisiana based lawyer
- New Orleans, LA
- Posts 80
- Votes 35
I am looking for a lawyer in the New Orleans area versed in filing claims against the builder for new home warranty claims.
Post: Internet for smarthome management
- New Orleans, LA
- Posts 80
- Votes 35
Quote from @Kyle Mccaw:
Look at Rently (locks) and Arlo (cameras).
those are smart home tools. they still require internet.
Post: Internet for smarthome management
- New Orleans, LA
- Posts 80
- Votes 35
Are there any particular internet options, wireless/cellular, that people are using to manage the smart home features? Looking for something I can use other than the basic home internet to manage the locks and cameras at my property remotely.
Post: Looking for a New Orleans area lawyer
- New Orleans, LA
- Posts 80
- Votes 35
Quote from @Braden Smith:
Dustin L. Poché, Attorney
IRPINO, AVIN & HAWKINS
2216 Magazine Street
New Orleans, LA 70130
Phone: (504) 525-1500
www.irpinolaw.com
Gracias
Post: Looking for a New Orleans area lawyer
- New Orleans, LA
- Posts 80
- Votes 35
I am looking for a lawyer in or near the city. Looks like I have a suit or 3 that I need to file.