Anyone in Southern Louisiana? Need some help/advice please!

[Olivia Armstrong]

Hey everyone! I'm new to real estate and BP :) My fiance and I just moved to the Covington area as he got stationed in New Orleans with the military. Our goal is to invest in real estate, and build a portfolio which allows us to live/experience life rather than working a 9-5. Our initial plan is to use the VA loan to buy a multifamily, live in one of the units until we move on elsewhere, and rent the rest. We are new to the area (and real estate) and wanted to gain some insight on the good/bad areas to invest in. We are open to Covington, mandeville, hammond, southern baton rogue (just would like to keep our commute under 1.10 or so) That being said, if anyone is familiar with the general southern Louisiana area, we would greatly appreciate the advice. Looking for a family friendly, safe flood zone, stable economic area! Thank you all in advance!

[Jonathan Duhon]

Hey Olivia welcome to Southeast Louisiana! My wife and I are on a similar path and started our investing journey two years ago with a live in flip. Since then, we have done 6 renovations. The most important thing is that y'all see eye to eye and that your desire to live for a living is strong. 

Covington is a great place, my wife and I live were born and raised in Baton Rouge and we often toy with the idea of moving out there (if we don't leave the state). It has certainly seen a ton of appreciation in the past 5 years, along with Mandeville and Madisonville. I actually have some clients and friends who are moving from California for the husband to work for the Marines in Nola and are shopping for a home in Covington.

I think your plan to buy a multifamily home with the VA loan is genius. I love when I hear of a young family wanting to go the house hacking route. I truly believe if you pick the right home in a good area that it's a decision you'll always be happy you made.

Of the towns on the Northshore, I'd say you've got the right ones in mind - Covington and Mandeville. If you want a kickass agent out there I have a good friend who is helping my friends from CA with their search. 

Hammond is another great option. I lived there for 7 years and still visit friends there a few times a year. I also work with clients there and I'm always watching the multifamily market in and around downtown bc it's such a stellar area and a place that I'd like to buy multifamily in the future. If y'all haven't spent any time in Hammond yet, I would suggest y'all book an airbnb in the heart of downtown on the west side of the railroad tracks (or close to the tracks on the east side) and just live like locals for a weekend. I have some great suggestions for food and drink if y'all decide to do that. The locals are super warm and they have lots of good food and drink there.

Baton Rouge is my home town, and it's where we exclusively invest so far. We invest in multifamily. Baton Rouge is a very stable market because of all of the oil, gas and petroleum industry, big Universities, and of course it's the state capitol. There are a lot of good areas with multifamily homes, but the best area is Mid City South. I could break Baton Rouge down a lot more if you'd like, just let me know. 

Welcome again. I hope you're settling in well so far. Holler if I can answer any questions or break down Baton Rouge more I'm always open to chat.