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All Forum Posts by: Beau Guidry

Beau Guidry has started 1 posts and replied 17 times.

I agree with all of the above and will add the exorbitant insurance costs are squeezing rental profits at the moment. 

Post: Real estate investors in New Orleans

Beau GuidryPosted
  • Posts 17
  • Votes 18

Yes, I have multifamily property in NOLA. Right now, the astronomical insurance cost is squeezing everyone dry. The good thing is I’m starting to see some asking prices for property come down. The insurance problem won’t be here forever so if you can snatch up a good deal from someone who is feeling the burn from insurance and ready to cash out, it could make for a good time to jump in the NOLA market.

Post: Need a mentor

Beau GuidryPosted
  • Posts 17
  • Votes 18

Hello Sherree, what market do you plan on focusing on. If your in New Orleans I can make some suggestions for you.

Post: Critique my STR

Beau GuidryPosted
  • Posts 17
  • Votes 18

I think your property looks great. I wouldn’t change a thing. You can always do more to make things pop but I don’t think it will translate into more bookings. I’ve been doing Airbnbs in NOLA since 2015. Unfortunately the market is saturated and it’s putting downward pressure on pricing. Your weekdays will typically book 50% lower than your weekends. Looks like it’s a new listing so it may take slightly more aggressive pricing starting out just to build your reviews. Best of luck!

Quote from @Damon Aniton:

I "feel" like given the fact that not a lot of 3 bed 3 bath properties exist in the area I can land near the higher end of the price spectrum as an LTR, $2200-$2500. And whenever the city gets their act together pulling in 10 days a month as an STR consistently is very doable as well. Anything outside of that would be pure cashflow.

With having equal number of bathrooms as you have bedrooms maybe consider renting out by the room? 

That sounds about right. It’s a small zip code and with a lot of commercial property. Not a lot of 3 bedroom properties exist.

Quote from @Damon Aniton:

I am doing a little of my own research as far as comparable rentals in this zip code and see dam near nothing and the hand full, 5 in total, that are listed have been on the market for a month or more. Some as many as 60 days or so. All of which are reducing their prices in the hundreds. I know people do tend to move less in the fall and winter. So the amount of time some of them have been on the market is not terribly surprising. But the low inventory is what has me scratching my head. Is it because this particular area of the city is more rented out to STR than anything else or is there something else I am missing?

I am seeing 39 rent listings in 70113 on Redfin. What website are you using? 

Quote from @Damon Aniton:
Quote from @Beau Guidry:

Hello Kenneth, I do long term and short term Airbnb rentals in New Orleans. I’m always looking to connect and network with new people sharing ideas and best practices. Feel free to reach out.


How has the MTR for New Orleans been. It almost seems like this would be a better all around strategy than the STR maybe.

I have not had any luck with MTR - mid term renting. I have opened my calendars far in advance and set a 30 day night minimum and reduced the prices to a fairly low profit margin just to test the waters. There were no bites. I believe MTR requires a lot of lead time - maybe 6 month advance advertising, and it will be very challenging to limit vacancies in between guest. I’m hearing a minimum of 2-3 week vacancies if you are lucky. That would severely eat in to my profit margin as the margins for MTR stays are not good to begin with. I’m interested to hear others experience though.

Hello Kenneth, I do long term and short term Airbnb rentals in New Orleans. I’m always looking to connect and network with new people sharing ideas and best practices. Feel free to reach out.

Quote from @Scott Mac:

Kids with guns, in a poverty stricken area, robbing other people in poverty--for poverty amounts of money.

I'd be afraid to walk in that area too.

Class D owner/operator problem (which is one reason people say class D is a tough cookie).

And the renter you replace her with will be bulletproof (???)

Now in my neighborhood, if a child at the bus stop had a gun, and an adult knew about it, the adult would call 911 and report it, and let the Patrol Officers end the situation for the safety of others, vs breaking the lease and moving away.

The Police will end it, and when it's done they will be holding that gun--as evidence.

Does she have no Cellular Phone--to let the fingers do the walking--911(???)

1-Adam-12 boy at the bus stop with a gun, Mothers and children afraid and in DANGER, code 3.

Can you imagine how many Patrol Cars would light up and swarm down on the bus stop and solve that problem.

Just my 2 cents.

https://www.youtube.com/watch?v=A1bsHDkqaCo

That may be true for other cities but that’s not what’s going on in NOLA right now. With the police being severely understaffed, tenant would be lucky to have police show up in any reasonable amount of time to actually catch someone. Retaliation is also a real concern and some of the cops lack the professionalism to respond to a situation discretely without implicating citizens that are cooperating with them.