All Forum Posts by: Joey Meaux

@Alonzo Parker Any luck with Wells Fargo? I'm going through the same process on 2 properties now and am curious.

Thanks!

Evan Manship Who was the group out of Denver if you don't mind sharing?

Thank you for sharing Kevin, that's much more promising news.

Kevin Dickson Thanks so much for the insight and recommendations for a good DOR. I've read the code quite a bit and even talked to the zoning department (very surprised when they called back, albeit a day later). I live in Sunnyside with TU zoning. I recall from conversation with the zoning department that a tandem house must match the existing primary structure in building form. Can you elaborate on just what this requirement means if you've crossed it? Does this mean you must build a replica? Or does it simply mean the setbacks and heights must align? Thank you! Olivia Romano I second the request for pictures, sounds like a great place!

@Bill S. I would agree about commodity price, historical data reflects an approximate 10 year occurrence of the dip we're seeing now.  In '08 it took about 2 years for full recovery in the area if memory serves me correct.  Note I was also still in college at the time and not highly affected by the market.  I would also tender that I believe the rental market remains fairly strong from a demand side here.  Sales have dropped considerably but people still need to rent, albeit at a cheaper price if they can find it.  My only thought-was thought the current buyer's market represented a clear opportunity to get cheaper deals in respectable areas

I don't think the Denver market is impossible. I just think the entry point is notably higher than Lafayette and everything I've read, whether it be general business or REI leads me to the conclusion that acting now is nearly always better than acting later. Yet, I am a newbie and might not be aware of how much opportunity is in Denver until the move is finalized.

@Travis Sperr thanks for the insight and I do intend to reach out to folks and join meetups once I move.

@Thomas S. market conditions make selling a highly unattractive option at this point. 

@Robert Leonard, thank you for the advice.  Deep down I agree with the sentiment. I think the current market in Lafayette presents a great opportunity and I would need a bit of time to learn Denver.

Hi everyone, first time poster here.

I've been reading posts and listening to the BP podcast for the better part of the last 2 months and I've been researching REI off and on since finishing college.

I'm local to the Lafayette, Louisiana market and have lived here the past 8 years.  My primary interests are buy and hold on cash flow positive deals and eventually development.  Now to throw a wrench in the system, I will be moving to Denver, CO at the end of this month.  So to partially answer my own question, I've already began my journey by putting my home here in Lafayette under management.

My question is essentially which area would be better to target. As anyone in Lafayette knows, the sale market is down right now to the downturn in oil and gas. Moreover, anyone local to Denver knows how hot that market still is, albeit highly priced for entry. So would it seem more effective for me to keep growing my portfolio in Louisiana, or concentrate on potential large ROI investments in the Denver market? I realize that not everyone will have experience in both areas, but any advice helps!

Thanks and I'm very excited to start the journey!