All Forum Posts by: Amy Verges

Welcome Cameron! I'm a buy and hold investor here in Baton Rouge too and love the market. There's a great REIA here that meets once a month called the RING (Real estate Investors Networking Group): https://www.meetup.com/the-ring/ I'm still relatively new to investing with only 4 doors, but I've learned a ton from this group and have made some great friends and contacts. We would love to see you next month. Good luck with everything!

I agree with Garrett.  It’s too far north for my taste as well.  I would personally be uncomfortable stopping in that area by myself (which is an important barometer for me).

@Jeff Foulds Sorry about the delay--for some reason I didn't see the alert for your response and just happened to come across it today.  Yes, I used Listsource and narrowed it down to exactly what I was looking for.  Admittedly, I did a terrible job tracking, so I'm not exactly sure of my response rate.  With the last mail out that I did, I only sent around 150 letters (I'm very picky) and got about 25-30 calls with 4 or 5 that I actually made an offer on.  Those are total estimates, but hopefully that helps.  Good luck with everything!

@Jeff Foulds I'm not a fan of the Gardere area. Too many crime issues considering I am managing my own properties. But if that doesn't bother you, you can get great returns there. I've done some direct mailing, but I actually found my last one on the MLS. Although anything good on there is gone in a day, so you have to be quick to take advantage. I haven't closed on any deals from direct mailing yet, but I've gotten really good responses from the little bit I've done here. Hope that helps!

@Jeff Foulds  I love Baton Rouge for small multi-family.  I have 2 duplexes myself.  My dad was born & raised in N.O. and still lives there, but all (50+ units) of his rentals are here in BR.  He likes the small MF (2-4 units) and BR just has a better market for that (in his experience).  I'm pretty new to the game, but have had the same experience.  It's still competitive, but it's been relatively easy to find good deals on small MF in good areas here in BR.  Might be something to look into! 

Hi Shannon, these estimates are not bad, but of course down here in South LA we're usually on the upper end and it can vary quite a bit (depending on location, property details, etc).  We write a lot of multi-family business (and I own multi-fam investment property myself), so I would be happy to help.  Send me a private message and I can give you my contact info.  Good luck!

Hi Cathy,

I'm an investor here in Baton Rouge and love the market.  My dad has also been investing in Baton Rouge for 30 years, even though he is from and lives in New Orleans.  We both focus on small multi-family buy & hold and I've found that the numbers in Baton Rouge are much better for that strategy than New Orleans.  Although I know quite a few investors that love the New Orleans market, especially for flips.  I have no interest in student rentals either, but luckily there are plenty of buy & hold opportunities in the city that are away from campus.  

I'm a property & casualty insurance agent by day, so I can tell you that if you do it right, flood insurance is not a big deal.  A lot of it depends on the flood zone the property is in and I strictly buy properties in flood zone X (the lowest risk zone, the cheapest to insure, and does not require an elevation certificate).  Just to give you an idea: the flood insurance for a duplex of mine is $650/year, so it only cuts about $55/month out of my profits.  I'm happy to answer any other questions you have about that.

Lastly, I totally agree with Robert that it's worth consulting with a good CPA.  I know two good ones here in town that I would recommend.  Feel free to PM me and I'll send you their direct contact info.  Hope that helps!

I second what Rob said!  I'm relatively new to investing in BR as well and the RING has been a great resource.  Good luck!

Hi Richard,  congratulations!  I'm an investor with a full time job and got my license earlier this year.  I chose Exit Realty Group as my broker.  They have been great and understanding about where I'm coming from as an investor.  Feel free to PM me and I'll pass along the broker's cell # for you.

I agree with what so many others have said on this thread: the people of Louisiana are a reliant bunch and I haven't spoken to anyone here in Baton Rouge that plans to move or "flee" the area. I'm sure there will be a few that will not stay, but overall, the mentality seems to be to rebuild and to come back stronger. Our community has been incredibly giving and supportive to those in need and seems to have a stronger bond than ever. If nothing else, the Baton Rouge market is incredibly consistent and I don't see that changing.

On another note, I have been an insurance agent here in BR for 5 years and am happy to help answer any insurance questions. Just PM me to do so and I'll give out my cell # there (won't let me post it here).

Lastly, I am interested in buying flooded properties myself and know a couple other investors that are as well. If you know someone who didn't have insurance and is looking to get out of a tough situation, let me know if I can help.