All Forum Posts by: Nicholas R.

oh so you're all financed? that's a tough row to hoe. profitable lipstick flips are hard to come by.

FYI - this listing just popped up in Gentilly...

https://www.redfin.com/LA/New-Orleans/3533-Clermon...

cute house, decent location, good price if you aren't scared of rehab.

I fortunately bought a lot in 2011-2013 and that stuff is up a ton. The stuff from 2006-8 that i kept is only up modestly. I also bought into a very rapidly appreciating market which has helped. I see my area being in a bit of a bubble...look at the 5-year trend here: 

http://www.movoto.com/new-orleans-la/market-trends...

so i have backed off considerably in the last 18 months. now most of what i get comes from city auctions, sheriff's sales (also has gotten very competitive) and tax sale redemptions...just the occasional whopper of a deal makes it onto the market, but they are rare.

I am selling into this market now....prepping a few places for sale but keeping the ones that give the best return.

i should add that the stuff i bought at the peak was still good fundamentally. the rental returns were solid, and i was leveraged at the time, so I was able to wait out the downturn and still make good money.

I don't know why it says "wholesaler" - that was maybe some kind of default? I sent the site admins an email about it. Anyway, I am new to BP but am active on other forums.

The only wholesaling I do is the occasional "buy a place cheap, realize I have too many projects already, then just resell it a few months later for profit", and the occasional tax adjudication property flip which i guess qualifies...but I am mostly a buy-and-hold and flip-rehab investor. Also I do a lot of tax lien investing here.

Hi Brian! "Established" New Orleans investor here. What part(s) of town are you looking at? Helluva time to start with RE investing, but I can relate - i started in 2006 :-O :-O