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Updated over 6 years ago,
Looking for input on the Southeast Louisiana Housing Market.
Good morning all. I am new to RE in the sense that I have not made any transactions. I've studied a lot over the past few years, and didn't decide to take it serious until recently.
So, I am from California, but moved to New Orleans in 2011. I left New Orleans in 2017, and lived in Austin, TX. for a year. While in ATX I found that RE excites me. I had a plan while in Austin, but due to a financial hardship I had to come back home with my parents in New Orleans a few days ago. While in Austin I was going to get my RE sales license and focus on leases/apartment locating, but now that I am back in New Orleans I have noticed that the leasing works totally different here, hence puts my plan out of commission. So my question for you all is what should I focus on here in Southeast Louisiana? Should I take the time and money and get my Real Estate Sales license here and do pure sales, or perhaps take on the nasty market of leases(that no one wants to touch.) and build a business out of leases through the MLS? or are leases not worth it here($250-500 commissions per lease) in Southeast Louisiana? Should I focus on wholesaling? or join a Redfin and show homes when I can?
I simply do not know this market or how to approach it, and I would love for anyone to sort of lead me in the right direction.
Now I will say this. After being in my parents home for 2 days, I am grateful, but I have to get my own apartment, so I will be working a full time evening schedule to pay the bills. I am open to putting in full time work on my off hours and days to be successful in RE, but I have to get my own place. Also when I first started studying RE in 2016 I thought it would be smart to start a Facebook group for wholesalers in the New Orleans market, so I did, and today my Facebook group is at about 500 members strong. I figured having this group is good for something right? And last my ultimate goal is to buy and rent out section 8 housing, so with that being said, would a specific route matter when it comes to how I accomplish that goal?
Thank you all for your time and patience. Have a great day.