All Forum Posts by: Kimberly Jones

@Benjamin Jones Might want to check with a local title company to make sure. We have a Florida LLC and we did register in LA to purchase properties here. That was over 10 years ago though and I can't remember if we were required to do it, or if we just did it automatically because we assumed we had to. I want to say we were required to do it because I recall taking a trip to Baton Rouge and spending the day at the SOS office in order to expedite the process. I am pretty certain we would not have made the effort of a day trip to BR without it being absolutely necessary for our first closing.

Why no wood frame?

Tax records say Bywater but I am lake side of St Claude Ave so that technically puts me in St Claude.  I hated to sell it but it was across the street from my personal home so I rode the temporary license as long as I could and then handed it off to someone that is going to live in one side so they can go full year. Occupancy was always between 80%-98%. Times like Carnival and top festivals were extremely lucrative. There is one part of the new rules that sucks even for owner occupants though. Before, we had 2 beds in one bedroom, one bed in the 2nd bedroom and 2 sofas, so we were able to sleep 8 people comfortably. With the new rules you are only allowed 2 people per bedroom, PERIOD.

Yes things have changed quite a bit. As long as you stick with the right parts of the city you can make a very nice income with an str. I just sold mine last month and it was funny because prospective buyers didn't believe I was being honest about the income, until I gave them the airbnb printout.

@Jorge Jimenez as long as you are planning to live in one side you will be fine. Are you familiar with areas in New Orleans?

@Braden Smith might be able to point you in the right direction.

Happy to help :)

In Louisiana things are usually done as Bond for Deed. You can try David Birdsong at Gulf South Title in Metairie. He is in high demand though and can be difficult to get in with at times. Winters Title in Metairie is awesome, so are the folks at Southern Title in Harvey. They all know Bond for Deed and they all deal with investors so they should all be able to help you.

Are you looking for someone to do closings, or something more involved?

If you are in the process of FHA financing you need to sit very still until that closes. Don't do anything that might show up on your credit, even if it is only inquiries. You also need to let any savings you have sit as well. It is way too easy to throw FHA off, even in the last minutes before closing. Once that is done and over you can move on to other things. Houston is going to be your best bet at this point, New Orleans is really tight, deals are very hard to come by these days. You are better off sticking with the opportunities that are going to start flowing in Houston, especially since you are local.