All Forum Posts by: Robert Power

Thank you everyone for the advice.

@Shane Jeanfreau I am looking at the uptown areas (70115 and 70118) but I am not opposed to other places as long as they are relatively safe. Also, my max purchase price would be $250k.

@Mike Wood I agree with you completely. I was trying to find a way to break even but the only way that would work was with a triplex/fourplex which are usually in not so good areas. I don't mind paying essentially the mortgage note and having my expenses covered seeing as this is financially better than renting. I will just need a stellar deal to get the cashflow I talked about in my original post.

@Braden Smith thanks for the tip.

Hi all,

I am fairly new to BP so if this post is in the wrong place feel free to let me know.

Currently, I am looking into buying a duplex in New Orleans and living in one side. However, typically when I run the numbers on duplexes I am interested in, I am cash flowing negatively by around $300-500. Now, I know this should be the case since expenses are fairly high in New Orleans (I believe; correct me if I'm wrong), but I am just curious to see if anyone has been able to househack in New Orleans with a multifamily (can be triplex or fourplex too but I feel like those are hard to come by) and either break even or positively cashflow. 

Any insight would be greatly appreciated.

Thank you for the link, Mark.

Thanks Michael and Braden for the information! I'll be looking in to meeting some fellow BP members hopefully sometime in the near future.

Hey everyone! My name is Robert Power and I am brand new to the real estate world. I’ve done a ton of research so far with all of BP’s fantastic guides, podcasts, and posts and now my plan is to pursue small multi-family housing, scaling up to commercial in the future.

So far my one-year goal is to acquire at least one property and find a business partner/mentor to work with and to grow as an investor while adding value to their business.

Overall, I’m excited to be a part of the community and look forward to talking with people who have a similar mindset!