All Forum Posts by: Erin Plitsch

We switched to Robert's Brothers last year, and have been very happy with them.  They've handled issues in a timely manner, and have been great at communicating with us as well. 

@Justin Williams have you considered utilizing your VA loan eligibility to purchase a multi-family? We're (sort of) going that route right now, and it could be a great way for you to get started and get the cash flow going!

@Brandon Clark Like most others have mentioned- it can be spotty for sure.   However, we recently moved to the Gentilly area and have been really happy here so far (but I'll be happier when our renovations are done, ha!).  We are East of Elysian Fields, as are a few other people I know who have recently moved to the area.   Seems like the "terrace" is hot right now (that's where the others I know have purchased- all owner-occupied, including couples, young families and a single gal)-  bounded by Mirabeau, Gentilly, Elysian Fields and People's.  We strongly considered a few properties a little North of those bounds, and ended up buying in Fairmont Park just South of Gentilly Blvd (my co-worker was convinced I was crazy, but we love our street).  

Driving around worked great for us to figure it all out. We were using a VA loan so our criteria was a lot different for this home than our norm for an investment property, but as we walk/drive around we're seeing a lot of "potential next buy" properties in our area. I've heard a lot of chatter about people wanting to move this way considering crazy rent prices in other parts of the city, so I think if you pick the right spot you could certainly do well in this area.

@Kimberly Jones

Do you live N of St. Claude? My husband and I are planning to move to NOLA soon, and were hoping to owner occupy a duplex for a bit while we explore the city and take our time looking for a more permanent single-family for ourselves. Our agent suggested that area, but talking to some locals gave us the impression that we might be crazy to consider living there. I'd love to hear from someone who actually does, though, for a more accurate opinion! Thanks!

@Alex Flowers

I think the inspection contingency is pretty standard in Mobile, so far we haven't had any sellers take issue with it. On our last one, we brought the contractor in at the same time as the inspection, and it worked out perfectly.

@Lisa Phillips

We really like Mobile so far. We're in the process of trying to move to New Orleans, and it's made us realize how great the prices are in Mobile! Some other investors in the area have mentioned that good flips are getting tougher to come by (the redemption period throws a wrench in things sometimes), but I think as far as rentals there is still plenty to work with, especially if Section 8 is an option.

@Alex Flowers who are you planning to use for property management? We had some trouble finding options... we do currently have a manager for one of ours, but self-manage our section 8 rental for now. As we restructure and move farther away we're considering our management possibilities, though.

I'd be interested in heading out to Cali for a few days, even though I've already been beat in the distance category :)

@Alex Flowers Welcome!

We also invest in Mobile, and have found it to be a great market to get started in with the reasonable prices, especially as a cash-buyer. So far we've been really happy with our section 8 rental. Just as an FYI though- the housing board hasn't always been on time with payments, but they've always been great about responding and addressing the situation whenever we've called. It's definitely nice guaranteed income, it's just not always delivered like clockwork on the 1st like some other places. :) Are you planning to self-manage? In the areas you're looking I think you'll easily be able to find some good returns.

Of course a nice Destin Condo is always in the back of our minds too. Maybe one day...

Good Luck!

Welcome @Ron Collins ! We're looking to get started in the New Orleans area soon as well, which parts of town are you looking at?

@Brandon Turner a BP meet-up in New Orleans would be great!

Hi @Craig Hewitt!

I just ran across your intro, and my husband and I are also looking to move to NOLA soon (I work at UNO, but live in Gulfport... so we're trying to sell and move closer). Sounds like we have similar strategies- we've got 2 SFRs in Mobile currently, and are thinking we'll start by owner-occupying a duplex in New Orleans and build from there until we're out of debt/cash flowing enough to work for ourselves. We're shooting for a 5-year timeline as well. Which areas of the city have you been looking in?