Greeting from New Orleans

Greeting from New Orleans

New Orleans, LA · Member since 2013 · 3 posts · 0 votes

New member here, or I should say poster as I've been a lurker for a few months.

My name is Robbie Fontova and I'm a personal trainer in New Orleans, home of Mardi Gras, Bourbon St., and some of the finest dining in the world. I just recently became interested in RE investing. I don't know what it was, but one day a light went on in my head and I knew what I wanted to do. Since then I've been educating myself on the topic like crazy, saving as much money as possible, and have been very motivated in taking the steps towards purchasing my first property.

I'm currently in the process of searching for my first property. I've met with a lender, met with a couple of agents, and have scoured the this city trying to find the right one. If anyone isn't familiar with New Orleans presently, it is much on the upswing. New development at every corner and an unseen influx of young professionals has this city pulsing with potential. And as a result, real estate prices are beginning to climb.

As a first timer, and one who has a relatively small income, it's quite a challenge to find a property that fits the mold of some of the criteria I see posted here and elsewhere. I plan on implementing the buy and hold strategy, and mainly want to focus on multi-family homes, as there is an abundance of them in New Orleans.

I'm very interested to hear about how other investors "got in the game", and any advice I can take along the way would be greatly appreciated.

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  • Karen MargraveBusiness Member
    Moderator
    Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
    13y

    @Robbie Fontova Welcome to BP! It's great you've come out of the shadows. Though it seems like it's a stock answer, the best advice I can give you to learning is to click on the link above titled "Learn" and click onto the Beginners Guide. After that, scour he Podcasts, and pick out a few that are within your niche. Many people over the months and years have taken their time to share their experiences for others to learn from, and there's a lot to be learned.

    I have been in this business for close to 30 years, and there's still things I learn from others in a different niche of the market, etc.

    Also don't forget to fill out the keyword alert. If you aren't a pro basic member, I'd highly suggest it, as you get more colleagues, and networking opportunities, for next to nothing! HAVE FUN.... SEE YOU ON THE FORUMS!

  • Investor · Wichita Falls, TX · Member since 2010 · 3k+ posts · 603 votes
    13y

    Welcome to BiggerPockets @Robbie Fontova!

    I don't particularly know the market in New Orleans but I'm a firm believer in "Live where you want to live, invest where the numbers make sense." Another option is to look outside your local area. Just some food for thought.

    Good luck on your search. Keep us posted on how things are going.

  • New Orleans, LA · Member since 2013 · 3 posts · 0 votes
    13y

    Though it seems like it's a stock answer, the best advice I can give you to learning is to click on the link above titled "Learn" and click onto the Beginners Guide. After that, scour he Podcasts, and pick out a few that are within your niche. Many people over the months and years have taken their time to share their experiences for others to learn from, and there's a lot to be learned.

    Thanks Karen, and yes I do that often. I take in as much info as I can on the subject. I have a library of real estate books I've gone through, and I read this site often.

    I don't particularly know the market in New Orleans but I'm a firm believer in "Live where you want to live, invest where the numbers make sense." Another option is to look outside your local area. Just some food for thought.

    Thanks for the advice, and I plan on doing that eventually, but I left out a little info in my OP. I currently need a place to live myself, so I figured my first property would be an owner occupied multi-family unit.

  • Lexington, KY · Member since 2009 · 2k+ posts · 1k+ votes
    13y

    Welcome to BP! I absolutley love Nola and made it there as often as possible when I was stationed in Shreveport. Every time I went back the city was better than the time before. I love the architecture, music, food, atmosphere...what a great city! Good luck to you and let us know if you cannot find what you are looking for.

  • Real Estate Agent · Milwaukee County, WI · Member since 2009 · 3k+ posts · 525 votes
    13y

    Robbie welcome to BP

  • Mandeville, LA · Member since 2014 · 21 posts · 0 votes
    12y

    hi Robbie,

    I'm a NOLA resident as well (Mandeville) and am in about the same spot in my Investing career. If you're free to catch up sometime and compare notes let me know. I'm planning on going to the local REI meeting middle of this month. Are you? Things sure do seem to be on the upswing in certain parts of town. Exciting to see.

    Talk to ya soon.

    Craig

  • Brandon TurnerPro Member
    Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
    12y

    Hey @Robbie Fontova welcome to the site! Great to have you here! If you haven't checked out the The BiggerPockets Podcast yet, I highly recommend it!

  • Investor · Irvine, CA · Member since 2014 · 39 posts · 3 votes
    12y

    Welcome to BP Robbie!

  • Investor · New Orleans, LA · Member since 2013 · 19 posts · 0 votes
    12y

    @Robbie Fontova I'm also in New Orleans and new to real estate investing. I think you're on the right track and if I can help with anything just let me know..

    Chris

  • Investor · New Orleans, LA · Member since 2013 · 108 posts · 30 votes
    12y

    Whats up my NOLA locals? Marigny/bywater area and even north of that area is on a HUGE upswing! renovations every corner and home prices and rent skyrocketing. We should all get together and pick each others brains.

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