FYI. the Voucher is rental assistance program for Veterans. It pays most/all of the rental payment. You have to find a property owner willing to accept the voucher. Not all will advertise that fact. So sometimes you just have to ask.
Good luck. Please call if I can Help.
CCS Realty, LLC
1050 S Jefferson Davis Pkwy.
New Orleans, La 70125
Licensed in the State of Louisiana... more
1 Your credit is everything
2 Cash is king
3 before you buy, consider when you will want to sell any property you are looking at
4 Beware of Realtors that use words like "fabulous" "cute" "darling" you are buying an investment not a table in a club on Bourbon Street.
5 Insurance can make or break a deal..get this lined up as soon as you make an offer.... more
They probably will...generally you will need to have a termite certificate / or show the property is under contract anyway to get the loan. Unless there is some major structural damage or some latent defect it should not be an issue.... more
Avoid Zillow for our market in New Orleans..Zillow is designed for places with subdivisions of 1000 houses that all are pretty much the same..as in Arizona or Florida. Zillow info has no basis that relates to market value in New Orleans. Zillow cannot and does not know what a parade route is or proximity to Jazz Fest or how far to go get good crawfish and shrimp.
Multifamilies are always less than single families in the same neighbourhood..has been so for a very long time.
To add to your pain, (and mine..for I have several triplexes around town).. triplexes are confusing to most mortgage companies...it does not fit a "normal" criteria..the mortgage companies ALWAYS get confused..as if your triplex just fell out of the flying real estate saucer and landed at Bayou St John.
Appraisers will not use Uptown...and neither will seasoned agents...even within Uptown there are HUGE variations between zip codes and blocks..especially with multifamilies. For Bayou St John you will have to stick to Area 68.
What was probably your problem is you had an appraiser that used properties that were flooded, in less desirable neighbourhoods, and simply not true comps to yours. As Craig said, and appraiser on such a property should also use the rental income method and as Elizabeth says.."things they are a changin'" The rental market has exploded for quality rentals and is not slowing down as people continue to "flood" the city..different day..new kind of flood..educated young professionals coming for a weekend, staying for a lifetime. Hang tight and see what 1 yr will bring.... more