All Forum Posts by: Stephen Keighery

Welcome to NOLA. A big variable here is insurance. It would probably be cheaper to rent than to own here when you factor insurance in. That being said you aren't getting the benefits of owning the asset. I would personally rent if it is temporary so you don't mix a personal and investment decisions. While you are here and learn about the market perhaps buy a rental that you could analyze as an investment. 

Quote from @Kirsten Dieter:

Does anyone have an investor friendly title company in New Orleans they recommend?

 I use Title Stream in Metairie. I close about 5 wholesale deals there a month and they are great to work with. Reach out to John Costello and he will look after you. 

Quote from @Wyatt Wolff:

Quote from @Heidi Santa Cruz:

Quote from @Wyatt Wolff:

Welcome! I am in the Charlotte area and am very guilty of adding too many properties to the wishlist haha 

 Thank you! Oh nice, you're not too far. I am located in Moore County. Do you look at properties in NC or elsewhere? I want to look at properties in different states but feel a little anxious about being so far away from the property. Thanks for connecting :)

 I like NC just bc I understand it, and there is soo much variation in what you can get into (farm land, city condos/str, beach, mountains, etc). If I had to pick other places, they would be Boston, Savannah, New Orleans, Lake of the Ozarks. 

 I invest in New Orleans because I live here. I am not sure if I would pick it as a market if I didn't live here. What is your perspective on the market @Wyatt Wolff  ?

Quote from @Beau Guidry:

I agree with all of the above and will add the exorbitant insurance costs are squeezing rental profits at the moment. 

Insurance has been a killer.  The last coupe of weeks 3 people told me their premium went down for their primary. That is the first time I have heard that for a couple of years so hopefully things are turning (I wouldn't hold my breath though)

Quote from @Account Closed:

New Orleans is flat. I used to bicycle everywhere there. No excuses.

 That is very true Ken. Also New Orleans has lots of blighted properties. I live in a nice area and I can still walk for dollars and find lots of leads. 

How are you finding the insurance there? I am in New Orleans and our insurance has been terrible since Hurricane Ida. 

Nice. House hacking is a great start. There are plenty of duplexes in New Orleans so perhaps you should do it again. I also recommend you attend the local meetups and get to meet all the investors here. I run the Westbank Real Estate Investors which meets on the 2nd Thursday of each month in Gretna. We interview local investors and have great networking. There is is NOREIA which has good national speakers. The North Shore REIA is in Covington and is more similar to ours. There is also one in St Bernard. I have done a lot of deals and used a lot service providers from people I met at this meetups.

Quote from @Robin Simon:

Quote from @Stephen Keighery:

Are you guys based in New Orleans?

 We are based in Austin, Texas but have great familiarity with New Orleans and lots of team members from the area

 Got it. I will reach out on my next refi. 

Try Title Stream. 

Are you guys based in New Orleans?