All Forum Posts by: Stephen Keighery

Thanks @Braden Smith and @Mike Wood your answers have been super helpful. I have a couple other items I am after feedback from you or anyone in the community.

• Replacing rotten soffits & Facia
• Replacing Sheetrock
• Exterior Painting
• Fixing or replacing siding
• Cost of new internal door

Appreciate the help!

It doesn't sound like you are getting the best response from agents and can do better. Braden Smith is a good one in GNO and is an investor himself and very knowledgeable. I also think you can get a lot of this information yourself. The Northshore REIA is staring in person again next week and I would attend that to meet some people. I know your market isn't the north shore but you will find plenty of south shore people and local knowledge. You are already going in the right direction so think you just need a few more local connections to push you forward.

Nice. Where is the Duplex located?

@Braden Smith this is really helpful. What are your thoughts (or anyone else) on flooring costs per sq ft? Obviously varies by type, lets say LVT, Title, wood and refinishing existing wood floors?

I am wondering what people are paying for rehabs costs in Greater New Orleans. Any input or thoughts would be appreciated from local rehabbers/Investors/Contractors. 

For example, how much on average are you spending on the following items:

• Kitchen
• Full bath
• Half bath
• Updating plumbing
• Rewiring house
• Patch/Paint/Repair a standard room
• Dumpster Hire
• Replacing a window
• Replacing internal door
• Replacing External door

Appreciate your help on any of these items. 

All the suggestions here are good. I will also add that you can look to acquire houses subject to the existing mortgage. This means you utilize the mortgage that is already on the house and it stays on the old owners credit record. I just closed on one like this and did a video explaining why the owner was happy for me to take over their payments which might help. There is lots of information out there on how you can do this. Personally I am going hard on this strategy and if the market goes south at some point it will become even more powerful. 

I live in NOLA and would be down for a meetup if there is one. Keep me posted. 

Plenty of people here from NOLA. How you doing JJ?

Those messages will work. Also any marketing for distressed properties will work and some deals will make sense to be subject and some will make sense as cash. The motivations and situations are pretty similar. 

@Annie Dillon it is possible to get title cleared in a day. Depends on the parish (county). Do not close without Title company, very risky.