All Forum Posts by: Teddy Winstead

Does anyone have any property management recommendations in New Orleans? Presently just have one duplex but looking for someone to work with as I build a portfolio. Thanks.

That’s a mostly blue collar area that’s still struggling from the oil downswing. May rebound but the oil business has fundamentally changed in the last 5-8 years so it may not. Your profile says you are in Maryland. You mentioned that this was your first deal. The 55$/square foot is reasonable. I’m worried that you are going to get taken to the bank though- renovating from distance in that area. Most contractors from that area are still working in BR from the floods. Best of luck.

Hi. I finally signed up after listening to the podcasts for a couple of years.

My name is Teddy. I've owned rental property off/on for a little while.

Back in school, my wife and I owned a duplex that we lived in and rented half (wish we never sold it) - that was here in New Orleans, near City Park.

I live in New Orleans (uptown and work in Houma)

Recently bought a commercial property in Houma, LA for two of my businesses which was a great move as we were previously renting and my note now is the same as my mortgage. The previous lease was a triple net, so I was also already paying insurance and maintenance on an aging property.

January I closed on a duplex in uptown (which is a white hot market) and it cash flows pretty well, just proving that you just need to keep looking for deals.

Looking to purchase more multi family in uptown New Orleans and Houma. Not using a property manager (yet), but will probably raise rents on the duplex I own to cover that expense when the leases are up (like I said it cash flows nicely, but surprisingly one unit currently rents for below market value).

I'm an extremely busy professional and looking for buy and hold properties which I'd like to upgrade pull out equity and do new purchases.

Have a great weekend everyone,

Teddy