All Forum Posts by: Daniel Purcell

@Nolan C.

If you’re out of state take time to find a property management company that can take a lot of the day-to-day off you. Unless you commit full time to this, you’ll be dealing with issues constantly.

@Ken Latchers

Smart!

@Sean McDonnell

OMG PREACH Sean! PREACH!

@Greg Jeanfreau

Greg,

This stuff is golden!

If I may add, where the Sheraton is on Canal is actually a great lift off point to anywhere in the Quarter or CBD.

Here are some GREAT food options:

High end - Restaurant R’evolution (Quarter), Doris Metropolitan (Quarter), Shaya (Uptown)

Medium-cost- Meril (CBD), Dick & Jenny’s (Irish Channel), Pascal’s (Uptown), Jacques-Imo’s (Carrollton)

Cheap and amazing - Coops Place (Quarter), We Dats (CBD), Midway Pizza (Freret)

I’m sure I’ll add more!

@Charles R.

Welcome to BP Charles, I'm your resident STR rules guy and investor in our area on BP.

Let any of us know if you have questions/need help! Great group of people here!

@Tyrone Alridge

As an owner and avid seeker in multi’s in NOLA, I can tell you they can be very good, but come with risks as any other house would. In NOLA you have flood insurance (mandatory), a lot of capex expenditures in the beginning (most multi’s are either very old or reno’d and there were some shortcuts made), and can get expensive depending on the area.

It’s a tough market overall here with limited housing inventory as is.

@Melinda A. Harleaux

Hey Melinda,

Here is a link to the breakdown I posted a few weeks ago on STR's in NOLA. Commercial is definitely the way to go to grow exponentially in the STR realm in NOLA.

Happy to help in any way!

https://www.biggerpockets.com/topics/800518

@Jacob D Cockerell

I asked this same question 2 years ago to myself. I took it a step further and analyzed each weekend over a six month period around my area and other areas in New Orleans. I put it all into a spreadsheet and began averaging each weekend. It helped me see the market over time. I treated this search once a week for two months to see the progression of bookings.

The hard part is you have to scrape available data which means Unbooked houses. The cool thing is you can see the calendars of each property to at least get an idea of occupancy rate. It’s a process but one that gave me a database to work off of. Now I know all the areas of New Orleans and can adjust quickly with my own properties or the ones I manage.

More than happy to share some more if you’d like!

@Sue K.

GOAT = Greatest of All-Time :)

@Kevin Madere

Welcome to BP! This place is the source for real estate knowledge!