All Forum Posts by: John Lewis

From what I have heard Section 8 inspections can be very tough to pass.  This is one of the reasons repair costs are so high and of course you can always get tenants that tear the place up.  If you find the right deals though there is definitely money to be made.

I don't have much to add as far as experience but being from the New Orleans area I can definitely see this being a solid investment.  The businesses could always validate parking if there was a lot in the area but it isn't uncommon to not have parking options.

Welcome to BP! I've been really wanting to get to one of the New Orleans REIA meetings. My advice is to find a niche that you are interested in and use this site and the podcasts to get as much knowledge possible.

I know this topic is old but I have a similar niche with refinery workers in the area. They are paid a per diem (average $35/day). I charge a weekly amount of $175 per person renting with a minimum of 3 or a flat weekly rate if less than 3. This includes utilities and the house is furnished. An average 3 bedroom home may rent for $950-$1200 and I'm getting roughly $2100 and haven't had any issues finding tenants on craigslist. I know this doesn't work for every market but works fine here. Mobile home parks and small motels are also catching on.

@Paul Timmins Thanks! I'll check out those reads you recommended. I've found a niche in my area with weekly rentals for out of town workers at the local refineries. I still have a lot to learn but so far it has worked out well.

@James Wise Thanks!

@Michael Baradell Thanks! I live in LaPlace.

@Robert Leonard Who Dat! Football season can't come soon enough! I'm actually in LaPlace so I'm between New Orleans and Baton Rouge. I plan to make my first NOREIA meeting in June. I'm going to look into The RING as well. Hopefully I'll see you there one of their meetings.

Hi, my name is John Lewis and I live about 30 minutes outside of New Orleans, LA. I'm pretty new to real estate investing and was searching the web for some advice when I came across Bigger Pockets. I look forward to listening to more of the podcasts and jumping right into the discussions.

I have a Bachelors in Finance from the University of New Orleans and currently work in transportation and logistics. My goal is like many to be able to quit the day job someday and focus on real estate full time. I've also found a few local real estate investing groups that have meetings in the area and plan to join. If anyone is in the South Louisiana area and has some advice on networking I'd love to hear from you!

I get a lot of out of towners in my area working at refineries. I offer a weekly and a monthly rate. I charge a little more for weekly because I usually get shorter notice that they are leaving. I offer my apartment fully furnished with paid utilitlies. So far it has been a great decision.