All Forum Posts by: Jason Braud

I own a mix of property types from Baker to Gonzales.

As far as picking apart your planning assumptions to make sure you're not missing anything.

-Are all the utilities are metered to the individual units?

-You will tend to have higher turnover with the multi-families.  Even if you can get them filled quickly and pull from the deposit to cover some of the expenses that go along with getting the unit ready for the next tenant, property management companies will normally pull a larger chunk of first month rent for a new lease.

Like others said, if you're good with those returns, go for it. The tricky thing in that area is you can't increase rents too much by making the units nicer because there's too many better areas in EBR people can live once you start getting into the higher rent ranges. So, more important that you don't underestimate on the expenses. I don't own any MF in that area, just one SFH with a section 8 tenant that has been a great deal.

Gardere area?

Did we play soccer together at EA?  I use Calvin Clement at Pennant Real Estate to purchase and manage all of my properties; 11 properties with 27 units total.  I can connect you if you're interested.  Maybe you already know him?

Do you care how much work it needs?

Do you care what part of town it's in?

I own 2 triplexes, 3 quads, and am looking at a 4th quadplex right now.  In different areas of the city.  The area off Brightside Dr by LSU has a ton of multifamilies coming on/off the market all the time.  Gardere area is a little rougher but also has a lot of quads.  

@Nathan Milazzo sorry for the mess in our front yard.  Plumbing issues.  Almost all of the other units on your side are for sale in that $2.4M package deal.  We were looking at the one for sale on our side.  They're asking too much.  It went pending a month ago and is back on the market now.

@Brian Mackey It's going well.  Got them all filled pretty quick with a little lower on rent than we initially wanted.  But, the notes weren't waiting for us to fill them haha.  We bumped the rents higher as we're getting into where the first tenants are renewing leases.  Besides a "bee problem" in one unit, a leaky tub on the second floor on unit causing a ceiling to partially collapse, and some vandalism to 2 A/C units... not bad on maintenance either.  Addresses are 5208, 5212, and 5220 Brightside View Dr.

I've been working out of the country for the past 3 years and living outside of Louisiana for about 16 now.  Come back about twice a year.   

Looking for deals myself.  I can connect you with my realtor if interested, Calvin Clement at Pennant Real Estate.  He finds some deals for us that may be good flips, but we only buy and hold at this time.  

@Dane Delatte A partner and I started investing in Ascension and EBR in 2016.  We are currently looking for MFRs in Ascension.  There aren't many.  We have also financed others' deals in the past.  We can talk offline if you want to share more details.

@Mitchell Fuselier, a partner and I started out buying SFRs mostly in Baker in 2016. We have a total of 9 SFRs now there and elsewhere in EBR and Ascension. Just bought our first MFR in 2018 near LSU with 12 units. Looking to go even bigger with the next one in either EBR or Ascension. Looks like someone put a package of MFRs up for sale on the Nicholson corridor between LSU and downtown BR recently. They're easy to find on LoopNet or Zillow.