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Is this part of Shreveport LA good to buy investment property in?
I am currently searching for homes in shreveport Louisiana to purchase as investment properties however, not being from there I am not familiar with the area. The current home I am looking at is located North of Cross Lake on Jewella Ave. Is this part of Shreveport a good place to buy or should I stay away? Also are there any other cities in Lousiana or lower income states that would be good to buy in?
@Joshua Wofford I am excited to see your interest in the Shreveport market! I have been investing in Shreveport and North Caddo Parish for the last 5 years and have been more than happy with my success. If you want, shoot me a DM and I will give you my contact info. I would love to meet up with you and show you what Shreveport has to offer.
Welcome to the Shreveport market @Joshua Wofford! There are broad generalizations through Shreveport as "good" or "bad" areas. What I would challenge you to think about is your particular strategy. Do homes rent over there? Absolutely; and if cash flow is your goal, the right deal will bring strong cash flow. If you are looking for flips, you will really want to sharpen your numbers and get some hyperlocal data to the house, within a quarter of a mile if possible. Feel free to send me a message and I'll get you connected in to some of the local FB groups for investors
@Joshua Wofford hi Joshua, I invest in Baton Rouge, LA and have found it to be a pretty good cash flow market. You do have to know your areas though, but you can mostly figure it out based on comps.
I stay away from the $0-100 ARV houses because the tenants will be more work. For single family my bread and butter is brick ranch style 3/2s with arv between $130-$200k that I can get for 70% of ARV minus repairs (or close to that). They rent for $1300-1800/month in good condition.
@Joshua Wofford I’m a Realtor and investor in the Alexandria, La. There is definitely some investment opportunities in our area depending on your strategy. Let me know if I can help with anything in this area.
I can also recommend connecting with @Lee Nugent
He is a great agent for investors and resource in the Shreveport area.
Good luck! 💪👍
@John Walker, thank you. The current strategy I am going with is purchasing a home that is turn key. I would be doing long term rentals, seeing that this would be my first investment property and not having much money to start with this seemed like the best route to go. What do you think?
@Joshua Wofford Sounds good. I sent you a connection. I can get your email and send you properties as I see them. If you want turn key, you may be able to get 1% but it will be a more challenging search.
I have interest in Shreveport as well. I have a few in Zachary, LA (north of BR), but with the air base being close to Shreveport, I would love to get a multifamily property that is in good shape and rent to military. Would love to hear if there are things out there at a good cap rate and would fit in my investment portfolio.
Im interested in Shreveport/Bossier area as well. I’m not too familiar with the neighborhoods but I’m seeing some what appear to be ok deals around barksdale. I’m in Longview and deals seem to be a little tougher to get around here
@Nick Dunin - my brother-in-law was in the Airforce and worked at Barksdale. There is apparently very little problem getting the monthly rental income, because there is a way that you can garnish it from their wages if they don't pay. Very interesting concept.
@Katie Lea I haven't seen many multi family homes in the price range that I'm looking in. There is one that caught my eye but it is on the smaller side, I can message you the address to the home if you'd like.
@Joshua Wofford yes please! There is also potential for partnerships and the like.
@Joshua Wofford I would be happy to connect with you as well. I have been looking in the TN, AR, MO markets and like what I see in LA. I like to actually come out to the areas I'm interested in and drive around, gives me a better idea of what I want and the potential.
@Rohme Williams definitely going out and seeing the location gives you first hand perspective. How are the other markets doing in the other areas you mentioned?
@Nick Dunin Have you came across any turn key homes under 80k in those areas?
@Joshua Wofford
Just did some brief searches on realtor.com and Zillow.com for sale and for rent so I can’t say for sure but I would say yes. I’m only an hour away so I’m hoping to drive around the area real soon.
@Joshua Wofford honestly??! Slim Pickens. But I always believe that there is always a deal, you just have to search a little harder these days.
However, that may all change with the foreclosure moratorium being lifted. But we shall see.
I have found some beautiful places by driving for dollars and I truly believe that the method of driving around and looking for yourself gives you a better perspective, plus helps you find those harder to find deals.
@Hunter Lawler I have invested in the Illinois market but I am looking for something closer to home as I live in Texas. I would love to find out more about Shreveport and what markets to buy into.