All Forum Posts by: Daniel Purcell

@Louis D.

I've been in the STR business for over 2 years in NOLA and I'm sorry that they essentially killed arbitrage one this market.

You really have 3 choices as I see it:

1. Get out while you’re ahead

2. Have the owner file for the STR license, but remember the trick here is he has to have a homestead exemption on that property. No homestead exemption on a single or RU-D2 and no STR license. If your in the commercial area and zoned commercially, hes pretty much free to do what he wants to STR wise.

3. Buy the property, put the homestead exemption on it, and roll from there.

Hope that helps some!

@Dominique Palmer welcome to BP! I also own and manage multiple STR's in NOLA! Happy to chat anytime and throw ideas off the wall and see if they stick!

@Brady Beshear

Great question!

I’ve used both Nest next Gen and the latest ecobee. Both are great and convenient. The Nest is a learning thermostat that adjusts to patterns, but I turn it off and it works just like any other. The ecobee is very similar in performance, but just a different interface.

Really both are awesome and you can’t go wrong with either. Don’t forget to get keypads as well for the locks!

@Allison Williams

Buying new property can absolutely be stressful as you journey into the unknown. When lost in emotion go back to the numbers. Look at your entire financial situation and truly look at the risk/reward and what you can afford.

I’m more than happy to help give a third party view if you’d like.

Hey fellow BP’ers!

Are you looking to develop unused space and generate extra income with Airbnb? Do you have space that you feel is Airbnb/STR ready, but don't know all the ins and outs to get started? Need help managing your listing? If so, let us help you get the most out of your Airbnb/STR! We currently have a few new openings to take on your STR!

Jessie and I are expanding our STR business from personal (2 units (will be 3 January 1) to include your property! We currently just signed a fellow BP'er up to manage his property and month 1 has been a hit! We've been through all the rigors of STR's and can help you develop, research, build, manage, and flourish in New Orleans.

If interested, please DM me on BP and we will get the conversation rolling!

Kind Regards,

Dan

@Collin Black feel free to message me! Happy to help you guys moving forward!

Seconding what Braden said. The MLS is the equivalent of buying your groceries at whole foods instead of wal-mart. Although I get the updates and look at it everyday, the magical MLS fairy, unfortunately, isn't going to be raining down deals any time soon.

House Hacking seems the best option in Orleans Parish right now for investors. Problem is that you can only live in one house at a time. Problematic when trying to push numbers through with your own living situations. 

@Braden Smith hit it on the head

@Annie Peng

Gretna is a tough spot because of the regulations there! Come join us on the east bank :) the water is so much warmer over here lol

@Alanna Schroeder

New Orleans!

Jack,

We currently use an "investor friendly" contractor who works with us on all aspects of reno's/flips. More than happy to help connecting you guys if you'd like.