Hey WSO, I am new to the forums. I am Entreprenuer having built a company from the ground up to 300 staff in Australia. I sold down some of my stock in that company and moved to New Orleans, Louisiana where I invest in real estate. I buy and hold, flip and wholesale. If you are interested you can check out some of the houses I have been buying
You can check out my linkedin profile here https://www.linkedin.com/in/stephenkeighery/
what prospects does New Orleans have? seems like a shit hole
On a personal level there is a great culture and it's an awesome place to live. Economically speaking a lot of the activity is Oil and Tourist based which could be an issue with what is going on right now. I flip houses and hold rentals and there are lots of blighted properties so plenty of stock for me to work with. Coming from Sydney Australia the cost of housing and living is significantly cheaper. I brought capital over here and to be honest I didn't pick the city because it had the best opportunity, it was a more a case of where I wanted to live and I am making the opportunities work
I feel like bigger pockets is more your audience. Majority of people on this forum work in the commercial real estate / multi-family or are trying to work in the commercial real estate / multi-family space. Not as much house flipping interest here
understood. I want to get into the commercial space which is why I am here. I not active in that space now but want to be. I also own shares in my old company which is meant to IPO at the end of the year (we will see how that plays out now), so intend to move some of that money into commercial when the time is right.
I am curious as to where you are investing in Nola, Bywater, Marginy? Are there many/any options for the Garden District?
I invest in those areas but am not really area specific. I buy direct from sellers and am looking for distressed properties or people who are motivated to sell As-Is for cash. These people normally don't have many great options to sell so me buying it helps them out and in return I get a good price and I can afford to fix it up for a retail sale or to keep as a rental. I look for deals all over Orleans and Jefferson parish and a little bit of St Tammany and St Bernard.
It's harder to find a deal that works in Garden District. I did buy the house I was living in which is right next to the Garden District. It is a 3 Plex with a commercial zoning so I can airBnB one of them without having a Homestead exemption. This is significant because you can't AirBnB in the garden District and my house right on the Mardi Gras parade route. I did a video about how I bought that house here https://homebuyerlouisiana.com/we-buy-houses/orleans-parish/uptown-new-…
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