Thank ya'll for the comments and valuable perspectives. Looking at the macro - the paths to progress in Baton Rouge are along the Nicholson and Government Street corridors in my opinion. While the Downtown/Water Campus and LSU anchors would suggest great infill opportunities along the Nicholson Corridor, as has been mentioned there is no way to know how long that transformation will take without public investment (streetcar/BRT). Banking on that additional value as any significant part of the value proposition of an investment is probably not smart, so any deal in this area must make sense as is.
I have always leaned toward hiring property managers, but am currently listening to the BP book on managing properties to get a feel of what that might be like. From reading some other blog posts on this forum I am gathering that investing in C/D properties requires significant cash reserves for capital expenses for deferred maintenance. So, if I make a move in this area I am going to be very conservative on my estimates and factor in a significant rehab budget. The deal will have to be there.
I am just getting started and definitely have a fear that this might not be the right time to get in on any properties. The overbuilt student housing in Baton Rouge and possible Recession are both concerning for sure. Thanks again for the responses!
