All Forum Posts by: Connor McGinnis

Any advice for a 24 year old moving to New Orleans who wants to purchase a multi family property? Preferably 2-4 units. Would live in one of the units. My dad would help finance the deal.

I found a realtor through a friend who is ready to help me look. I would like advice on what to look for and how to make my first purchase a successful one. Any nuances with the NOLA market? Am thinking about the suburbs of New Orleans like Metairie, Elmwood, River Ridge but open to area downtown too. Any advice is appreciated. Thank you!

Thank you Bruce and Damon for both of your responses. Really great insights from both of you. Just to add to my original response, I am not looking into buying a single-family house for my first investment property. I am more os looking into buying a duplex, triplex, or fourplex and living in one of the units so I can acquire an FHA loan. Do either of you have any insight on what may be a better purchase, or how to evaluate these types of properties to find the best deals? I have saved up a lot of cash since high school as I have been working non-stop since I turned 16. My parents also have excellent credit so they would be able to co-sign a loan for me if necessary.

I am just so excited to get started in this game as I love learning about it.  I would like to get in as soon as I can but I am nervous about the timing of it.  If either of you or anyone else could provide me with more insight it would be very much appreciated.

Hi All,

I am a brand new member and I am looking forward to connecting with people on here.  I graduate college in about 9 months and I am applying to jobs around the midwest area but also in areas I would like to eventually end up like Texas and Florida.  As I do not know where I am going to be living in a year from now it is tough to prepare to invest in a market I may not know much about at all.  My biggest goal is to start building my real estate portfolio as soon as I graduate and I plan on doing so by house hacking in the area I end up getting a job in.  It seems like inventory is low nationwide, and good deals for duplexes, triplexes, fourplexes are hard to find.  I do come from an entrepreneurial family and I believe they would help me finance a bigger deal if needed, but I would like to start with something reasonable as I do not have any experience and I am not very handy as of now.  Does anyone have any advice on how to go about my current situation?  Specifically, how should I go about finding a house-hacking suitable deal once I figure out where I am going to live.  Anything that you can share would be a big help.