Asked by Beb0p, San Francisco, CA • Wed Jan 15, 2014
I'm an out of state investor looking to diversify my portfolio. I have visited Nola several times and fell in love with it. I have so many questions I don't know where to start. I am looking for either a SFH, multi-unit property or a condo, willing to spend up to $450k but obviously the cheaper the better (I can spend a lot more for the right stuff but it has to be something that knocks my socks off) in an established or up and coming area. For starters, how is the real estate and also the rental market? A lot of overbidding? All Cash deal? Multiple offers? I have read that the rental market is very thigh in the Big Easy, is that true? Is Nola a good place to be a landlord? Does the demand out-weights supply?
I am considering Marigny, Bywater, LGD, Broadmoor, Mid City, CBD, Freret, and Uptown. Anyone comment on the aforementioned nabes? Any other nabes that you'd recommend?
Also, I know that there is a very high cost of home insurance. Is it trending up or down? Looking forward
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