All Forum Posts by: Austin Ashcraft

Does anybody have any general contractors they recommend in the NOLA area? I'm looking to buy a quadplex that is going to need some substantial reno. Would prefer a smaller contractor who can do quality work for a good price and do it quickly. Thanks!

Hey @Nick Troutman, 

First off let me say that it's cool to see a fellow boater on here investing in real estate.  I've from Louisiana but have spent virtually every summer of my life in Western NC boating- was a whitewater canoe instructor for many years at a camp in that area.  

To that end, the Brevard area seems to be a really hot market right now for STR's. I would trust Brandon's list on areas around the country that are most profitable because of the thorough research he has done, but if you were looking for something that is closer to you and within driving distance, you should check out Brevard. Plus you can get a quick lap in on the North Fork while on a "work" trip...

- Austin Ashcraft

Investment Info:

Townhouse buy & hold investment.

Purchase price: $156,000
Cash invested: $15,000

Buy and Hold Rental. Cash flows $700 a month.

What made you interested in investing in this type of deal?

It was my first real estate deal, I had been wanting to do it for a while.

How did you find this deal and how did you negotiate it?

I actually found it by visiting a friend who lived across the street. I had no idea what I was doing at the time, so I negotiated directly with the selling agent. I didn't get the best deal on the house, but I'm making up for it with the cash flow.

How did you finance this deal?

Conventional.

How did you add value to the deal?

Remodeled the kitchen.

What was the outcome?

Increased equity/ ARV.