Homeowner's Insurance is more expensive here but flood insurance in certain areas can be a real problem. Many sellers now are obtaining elevation certificates before listing their homes for sale so a flood quote can be easily obtained. In low elevation areas, rates have gone up considerably so this is something to be mindful of when looking at properties.
For hold property I like Freret, Milan and Algiers Point. In my opinion, the higher demand areas like Marigny, Bywater, Mid-City and Uptown don't product the very high rent to price ratio that I like to see. In the neighborhoods I mentioned (as well as parts of Uptown and Mid-City) it's not hard to find properties that fit the 1% rule. Example: with $450K to invest, you should target monthly revenue of at least $4500 or more.
Please feel free to contact me if you'd like me to send you info on the buy and hold properties that I'm currently watching or do a custom search for your.
The Real Estate Center of LA
Each neighborhood is different and each property should be analyzed. So do some homework.
Contact and interview a few Agents to discuss you plans before hiring one.
Best of Luck
Wayne E. Clark
CCS Realty, LLC
Licensed in the State of Louisiana
At (504)615-2333. As an investor and real estate broker I work throughout the city, identifying and building equity for myself and my investor clients.
There is still opportunity..block by block, every 6 months the dynamic keeps changing for the positive.
With a 1
Billion $ hospital being built and the streets and overall infrastructure turning the city into a construction site opportunity is still here.