New Orleans fix and flip market?

[Drew Mullin]

I have some experience in the south Florida area. I wanted to know if anyone had experience in the fix and flip market in New Orleans? Good market or not so much thx 

[Stephen Keighery]

There are plenty of flippers making good money here. The market is slow currently and you need to check flood zones and assess insurance costs when underwriting a deal. If you are assessing all markers you will probably find better but if you have some connections or a reason to be here you can definitely flip here. 

[Drew Mullin]

Quote from @Stephen Keighery:

There are plenty of flippers making good money here. The market is slow currently and you need to check flood zones and assess insurance costs when underwriting a deal. If you are assessing all markers you will probably find better but if you have some connections or a reason to be here you can definitely flip here. 

Hi Stephen, thanks  for the reply- I'm in southern Florida but im there often for family. In southern Florida I fund and profit / loss is 50/50. So would be trying to find something like that there 

[Justin Landesman]

We are still doing a ton of fix and flip loans there and the numbers make sense for the banks. I think the 2 biggest hurdles are finding the right team to do the work, given you won't be there to monitor it 1st hand. Also, the ability to find good deals with an accurate budget to complete the project up front from some good project managers/general contractors. If you find a solid, boots on the ground realtor/PM who has experience in the flip business you should be fine. 

[Ken M.]

Quote from @Drew Mullin:

I have some experience in the south Florida area. I wanted to know if anyone had experience in the fix and flip market in New Orleans? Good market or not so much thx 

Just as an aside, there are several much better markets between where you are and New Orleans. 

[Drew Mullin]

Quote from @Ken M.:

Quote from @Drew Mullin:

I have some experience in the south Florida area. I wanted to know if anyone had experience in the fix and flip market in New Orleans? Good market or not so much thx 

Just as an aside, there are several much better markets between where you are and New Orleans. 

Yeah- I have family in New Orleans so that's kindof why I was leaning towards it/investigating. What area are you in?

[Ken M.]

Quote from @Drew Mullin:

Quote from @Ken M.:

Quote from @Drew Mullin:

I have some experience in the south Florida area. I wanted to know if anyone had experience in the fix and flip market in New Orleans? Good market or not so much thx 

Just as an aside, there are several much better markets between where you are and New Orleans. 

Yeah- I have family in New Orleans so that's kindof why I was leaning towards it/investigating. What area are you in?

I'm primarily Texas and Arizona with interest in Huntsville with it as a central hub location for that part of the country. When We were in NOLA a year or so ago, it has shown it's disrepair and poor management. Someone can make some money there, but I think you really have to know the city pretty well.

[Drew Mullin]

Quote from @Ken M.:

Quote from @Drew Mullin:

Quote from @Ken M.:

Quote from @Drew Mullin:

I have some experience in the south Florida area. I wanted to know if anyone had experience in the fix and flip market in New Orleans? Good market or not so much thx 

Just as an aside, there are several much better markets between where you are and New Orleans. 

Yeah- I have family in New Orleans so that's kindof why I was leaning towards it/investigating. What area are you in?

I'm primarily Texas and Arizona with interest in Huntsville with it as a central hub location for that part of the country. When We were in NOLA a year or so ago, it has shown it's disrepair and poor management. Someone can make some money there, but I think you really have to know the city pretty well.

Got it. Right- it's a wild city in many regards. If I move forward will have to link up with someone for sure. I've spent a lot of time there but not from a business standpoint