All Forum Posts by: Daniel Purcell

@Stephen Keighery

Crazy I have a closing Friday as well! Already heard the rumblings of a lockdown. I’m going to go regardless wrapped in clear wrap and Tupperware haha

@Tyler Johnson

Always scouting the tourist areas. Downtown, uptown, quarter, and marigny. Also looking to get into commercially zoned houses.

@Tyler Johnson

Hey Tyler! Welcome!

I live in NOLA and focus on STR's, LTR, and flips. Also have become a DIY'r as of late.

Happy to help in any way!

@Michael Breedlove

Yeah we had ok renters before. Currently are listing it as we are moving to multi's as a part of our portfolio before we start digging back into SFH holds.

The rents are the best in old metairie and uptown. West Bank is only a market for flipping for me. Northshore I’m a little late to the party lol

@Michael Breedlove

Welcome to BP!

The south shore is tough right now inventory wise. Everything is expensive in regards to being able to cash flow/turn profits.

I have a quad and a double uptown, and a SFH in Metairie. I'm on the MLS, signed up with wholesalers, and am always looking for ideas/deals that could make sense. It's just tough at the moment which is good for the city property taxes I guess haha

Happy to help in any way!

@Jason Johnson

It’s like we know each other all of the sudden Jason

@Jeremy Blackburn

I’m with @Axel Meierhoefer. Flexibility is so key if you are trying to continue to move money from one project to another, or just in case a great opportunity comes up that you need to move fast on. I’m with the fed cutting rates again yesterday, it could be beneficial in the short term.

I’m currently buying another investment property and just save .5% with the fed cut since I wasn’t locked into the rate yet. Now is a great time to borrow!

@Karen Tate

Hey Karen!

I will message you!

@Kyle Nelson

I should say I manage properties in Nola that our of towners own

Will message you

@Kyle Nelson

Welcome to BP!

In New Orleans, the STR rules changed drastically recently. You'll need a homestead exemption, operators license, etc. for residential, but it's a little easier to have multiple STR's in commercially zoned areas.

I own 6 STR units and manage properties for people in California and that are in the armed forces. The key to STR's, in my opinion is location, location, quality of upkeep, and proper property management. You have to have a daily standard that will reflect in your reviews and repeat customers. IMO, The STR market is about Sq. Ft value, the ability to comfortably lay heads, efficient and respectful layouts, updated maintenence, thoughtful finishes, and cleanliness. If you master these you will cash flow extremely well. Add location and you're going to start it off with a bang!

Now go out and do it!