All Forum Posts by: Stephen Keighery

It depends on what market you are involved in with Louisiana. Baton Rouge has a meet up group called Red Stick Real Estate Investors. The city of New Orleans has it's own which I am a part of so would be happy to send more info about if you would like to connect. There is also the North Shore Real Estate group for the areas around Covington and a West Bank group that focuses on the West Bank across from New Orleans. There may be other groups around the state but those are the primary ones I am familiar with. 

I am in a similar situation. I bought my STR in New Orleans a year ago and noticed that the booking rates I was getting were less than I was anticipating. Many other STR owners in the area that I have talked too have also said that their bookings were down a lot this year. I am still in a position where I am getting healthy enough cash flow on the property so I intend on keeping my investment for the long term but I know many who bought in this market will need to sell in the next few years since the revenue doesn't offset their costs. As @Nathan Gesner had said; after covid opened up, there was a sudden rush of people who wanted to travel and caused a spike in tourism which has since died down. At the same time, many people jumped into the STR market hoping to capitalize. As more of these new owners leave the market, I think there will be a rebound in STRs that are still able to offer a quality experience to guests. My current strategy is to improve my own listing as much as I can and see how the market balances out in the next 1-2 years. I also offer MTRs stays during off-season months. 

Thanks for the update @Braden Smith.  I've been watching Google alerts myself but wasn't sure if this was finalized.  There are still plenty of residential homes zoned in commercial spaces but I bet they will start getting snatched up fast now.  Still a very hot market for medium-term too!

Hi Stephen! I recognized your name from the list of people attending the Westbank REI meet up tomorrow. See you there! :)