Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Stephen Keighery

Stephen Keighery has started 28 posts and replied 660 times.

Post: 👉Ask all your WHOLESALING questions for Jamil Damji here!

Stephen Keighery
#2 General Real Estate Investing Contributor
Posted
  • Rental Property Investor
  • New Orleans, LA
  • Posts 693
  • Votes 534

What are the best practices to market your deal? What information should include in a deal email?

Post: BiggerPockets Dashboard Upgrade! 🚀

Stephen Keighery
#2 General Real Estate Investing Contributor
Posted
  • Rental Property Investor
  • New Orleans, LA
  • Posts 693
  • Votes 534

Looks great.

Post: Real Estate Investor Groups

Stephen Keighery
#2 General Real Estate Investing Contributor
Posted
  • Rental Property Investor
  • New Orleans, LA
  • Posts 693
  • Votes 534
Quote from @Konstantin Ginzburg:

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. 

 This is a good list. I attend all the meetups mentioned and help run the Westbank One. Closer to you there is a Bossier City meetup. I think @Lee Nugent used to run it but he lives in Florida now so I am not so sure about the details 

Post: Cash flow vs building equity with STR's

Stephen Keighery
#2 General Real Estate Investing Contributor
Posted
  • Rental Property Investor
  • New Orleans, LA
  • Posts 693
  • Votes 534
Quote from @Konstantin Ginzburg:
Quote from @Heidi Nikolai:

Hi all,

I am looking for advice on STR's and cash flow. I bought my first STR two years ago and did very well my first year and a half. However, now the STR market in my area is flooded with inventory which drove down both my occupancy and my rate. I went from $150-$250 per night down to an average of $87 in the last four months. Between the mortgage, utilities, cleaning costs, ect I am usually just breaking even each month. I have about $80,000-$100,000 of equity in the house already, along with a very low interest rate. I am wondering if it would be worth it to hang onto this property and continue to build equity until the market improves, or interest rates decrease, and I can sell to find a more suitable market to invest in. I am not losing money at this point, but I am not sure when I should pull the plug. This was my first investment property and the first time I am finding myself at the "hold or sell" stage.

Thanks in advance!

Heidi

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. 


New Orleans had an increase in supply and less bookings per STR last year. What zoning is your STR? All the rules for residentially zoned STR's just changed which should reduce supply. They are having a meeting tomorrow and looking to limit commercially zoned STRs as well. My STR is commercially zoned so I will be at City Hall trying to make my case. We will see what happens with that. 

Post: New Orleans Live-in-Flip Airbnb Cash flow Property

Stephen Keighery
#2 General Real Estate Investing Contributor
Posted
  • Rental Property Investor
  • New Orleans, LA
  • Posts 693
  • Votes 534
Quote from @Jon Lester:

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!


They are coming after Commercial now. There is a public hearing next Tuesday about it but they are looking to bring similar restrictions against the commercially zoned properties in Orleans Parish. I am going to be at the hearing to voice my concern. I have a commercially zoned Triplex and have one of the units as an STR. I am literally next door to a Daquiri store on one side a tailor on the next and the block is full of commercial premises. It would be ridiculous to put a restriction on my ability to STR in this area.

Post: First Deal: Historic New Orleans Duplex Renovation

Stephen Keighery
#2 General Real Estate Investing Contributor
Posted
  • Rental Property Investor
  • New Orleans, LA
  • Posts 693
  • Votes 534

Would love to see you there @Jon Lester  - The speaker this month is someone who has built a nice rental portfolio and used the house hacking strategy for his first 3 acquisitions. He also flips, BRRRRs and is an active realtor so he should have plenty to share. 

Post: Starting out in New Orleans/ Baton Rouge

Stephen Keighery
#2 General Real Estate Investing Contributor
Posted
  • Rental Property Investor
  • New Orleans, LA
  • Posts 693
  • Votes 534
Quote from @Kenyatta Barthelemy:
Quote from @Stephen Keighery:

@Kenyatta Barthelemy let me know if I can help. I am active BRRRR investor in New Orleans and wholesale in NOLA and BR. Going to the meetups is essential to build your network. In BR the Red Stick REIA and The Ring are great and in NOLA their is the Westbank Real Estate Investors, Northshore REIA and NOREIA. I attend most of those so hope to see you soon.


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


 It was good to see you at the event. Don't be a stranger!

Post: Anyone experienced with VACASA?

Stephen Keighery
#2 General Real Estate Investing Contributor
Posted
  • Rental Property Investor
  • New Orleans, LA
  • Posts 693
  • Votes 534

@Debbie Bone I use Vacassa in New Orleans. I pay 20% and have been pretty happy with the service.

Post: How have rising rates impacted your Real Estate Investing strategy?

Stephen Keighery
#2 General Real Estate Investing Contributor
Posted
  • Rental Property Investor
  • New Orleans, LA
  • Posts 693
  • Votes 534

@Noah Bacon I am a BRRRR investor and the rise is rates definitely makes it harder to cash flow. I have worked around this by using a 30 year loan with 10 years interest only payments. This means I can still cashflow at the refi even with the higher rates. I do obviously trade off some amortization benefits with this strategy.

Post: Starting out in New Orleans/ Baton Rouge

Stephen Keighery
#2 General Real Estate Investing Contributor
Posted
  • Rental Property Investor
  • New Orleans, LA
  • Posts 693
  • Votes 534

@Kenyatta Barthelemy let me know if I can help. I am active BRRRR investor in New Orleans and wholesale in NOLA and BR. Going to the meetups is essential to build your network. In BR the Red Stick REIA and The Ring are great and in NOLA their is the Westbank Real Estate Investors, Northshore REIA and NOREIA. I attend most of those so hope to see you soon.