All Forum Posts by: Braden Smith

Unfortunately, many people are forced to sell as they can no longer afford to keep their homes. I have spoken with numerous people recently who have stated this. I really feel for the seniors on fixed incomes who cannot afford to keep their homes or have to go without any insurance. It is a real mess. And there is no relief in sight on the insurance front so I don't expect the situation to get better anytime soon. 

But if you can find a good deal there is money to be made. It is unlikely to find a good deal on the market. You need to find off-market deals and preferably direct to seller. What kind of investing are you interested in? Buy and hold? Flipping? New builds?

I am located in New Orleans. Insurance here is a nightmare, putting a real damper on the market. Premiums have doubled, tripled, and even quadrupled for some. 

I have a podcast on the local real estate market in New Orleans. Check out this episode on insurance:  Episode 22: What in the world is going on with homeowners insurance in Louisiana?

There are plenty of investor-friendly title companies in NOLA. Try Erin Springer located at 3351 Severn Ave #201, Metairie, LA 70002. Phone: (504) 455-3100

Let her know I referred you. 

Dustin L. Poché, Attorney
IRPINO, AVIN & HAWKINS
2216 Magazine Street
New Orleans, LA 70130
Phone: (504) 525-1500
www.irpinolaw.com

Welcome to BP!

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If you have any questions I can answer, don't hesitate to reach out!

Good luck and happy investing!

Welcome to BP!

You've come to the right place to learn anything and everything about real estate investing.

Be sure to check out the "Learn" tab at the top. Lots of great resources there. See here: https://www.biggerpockets.com/smarter

A good place to start is with the free guides, such as "The Ultimate Beginner's Guide To Real Estate Investing". See here: https://www.biggerpockets.com/guides/ultimate-real-estate-in...

The bookstore has some great books and the podcast is full of valuable information. See here: https://store.biggerpockets.com/

Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/users

Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts

Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing

Check out BP Podcasts: https://www.biggerpockets.com/podcast

If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box. He or she will be notified of being tagged so that the conversation will continue.

See here for the Guides: https://www.biggerpockets.com/guides

See here for The Path to Purchase: https://www.biggerpockets.com/learn

See here for the blog: https://www.biggerpockets.com/blog/

Search MeetUp.com for local meetups.

If you have any questions I can answer, don't hesitate to reach out!

Good luck and happy investing!

We do not have many companies to choose from. Your best bet is to shop around with a few different brokers as each of them cannot write for all the available companies.

Here are a few to check with:

TWFG Insurance

Riverlands Insurance

Goosehead Insurance

Pat LeBoeuf Insurance

 It is due to ineffective leadership and corrupt politics. 

You will pay an absolute premium for new construction, just as when you buy a brand new vehicle. Because of this, a new construction used as a rental is unlikely to cash flow. An existing property would be more likely to cash flow, if the insurance costs will allow it. 

Agreed, and in many cases, insurance is destroying cash flow if not pushing it into negative territory.