All Forum Posts by: Drew Mullin

Quote from @Drew Mullin:

I have some experience in the south Florida area. I wanted to know if anyone had experience in the fix and flip market in New Orleans? Good market or not so much thx 

Hey thanks - just not seeing this. Yeah I have some friends that have properties they hold in New Orleans and have heard the good and the bad. It makes more sense for me to stay in southern fl monetarily but something in New Orleans would be fun if it made sense. So just kindof testing the waters and getting peoples thoughts. Thank you 

I'm a multi-generational New Orleanian who has been in Real Estate for 20+ years full time as a Realtor and an investor. I live in the city and have a freakish map of it in my head that my wife is still shocked by when she gives me an address ("2100 block of _______Ave.?" Oh the pink and beige house with the tall concrete fence?"). That being said, I still want to pull my hair out sometimes because of the difficulties investing and working here. I love the town, but I guess that my point is that it has substantial challenges as a full time local. Trying to do it from out of town can be a nightmare. I've watched  it unfold many times over the years. People come here, buy, move away and try to keep the house as a rental. It all goes to s***. Quickly. And that's not even taking into account the regular tenant BS. That's easy compared to trying to fight and erroneous $13k water bill (a real issue we had) or an insurance policy tripling (that too). Or subs or property managers who run off the rails. 

Quote from @Drew Mullin:

Quote from @Ken M.:

Quote from @Drew Mullin:

I have some experience in the south Florida area. I wanted to know if anyone had experience in the fix and flip market in New Orleans? Good market or not so much thx 

Just as an aside, there are several much better markets between where you are and New Orleans. 

Yeah- I have family in New Orleans so that's kindof why I was leaning towards it/investigating. What area are you in?

I'm primarily Texas and Arizona with interest in Huntsville with it as a central hub location for that part of the country. When We were in NOLA a year or so ago, it has shown it's disrepair and poor management. Someone can make some money there, but I think you really have to know the city pretty well.

Quote from @Drew Mullin:

I have some experience in the south Florida area. I wanted to know if anyone had experience in the fix and flip market in New Orleans? Good market or not so much thx 

Just as an aside, there are several much better markets between where you are and New Orleans. 

There are plenty of flippers making good money here. The market is slow currently and you need to check flood zones and assess insurance costs when underwriting a deal. If you are assessing all markers you will probably find better but if you have some connections or a reason to be here you can definitely flip here.