After many years and much effort, the Freret Business Corridor is finally enoying change for the better. The businesses and homeowners in this neighborhood have been proactive for many years, including years predating Hurrican Katrina, but the neighborhood was plagued by blighted housing and crime. Continue reading
The Uptown Freret Business Corridor Is a Place to Buy Rental Property
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Residential Housing: Rents are on the Rise
Stephan Metelica, a 24-year old charter pilot, shares a two-bedroom apartment with a friend in Chicago’s Lincoln Park neighborhood. The duo split the $1,525 monthly rent, but they were surprised this month when their landlord lease came up for renewal and their landlord asked for a 5 percent increase, to $1,600.
“I was pretty upset about it,” Metelica says of what would amount to nearly $40 more per month per person. “I thought a 5 percent increase was ridiculous.” Continue reading
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New Orleans Property Tax Lien Certificate Redeemed
So, I was at New Orleans City Hall last week trying to pay a “supplemental” property tax bill (the city screwed up basically, so they tacked on more taxes due March 31) on a tax lien certificate I won at auction in September of last year, and they told me it had been redeemed. Awesome! That means I get paid a healthy return, much healthier than you can get anywhere else, with very little risk. (For you naysayers that say tax lien investing is risky, realize I wasn’t born yesterday and I only buy liens on properties that are of very high quality.) Continue reading
Posted in Investing, New Orleans Real Estate
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What’s the first thing you should do after you sell your house? Get your money back!
The first thing you should do after you sell any real estate is…Get your money back!
Most sellers have a mortgage on their property, whether it is their own home or investment property, that escrows for property taxes and insurance. While all sellers of real estate are credited at closing for prepaid taxes (in New Orleans taxes are paid in advance, not in arrears), as a seller you are due a refund from your mortgage escrow account for next years taxes and insurance that are often included in your monthly mortgage Continue reading
Open House This Sunday: 542-44 Lowerline Luxury Uptown Multifamily Investment
Come view this impressive luxury Uptown New Orleans investment property this Sunday, March 27 from 1:00 to 3:00. Lunch will be provided.
Great owner occupy or high end investment opportunity with strong cash flow and owner financing available.
Learn more about the property here: Uptown New Orleans Real Estate For Sale
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How to Buy Property Tax Liens in New Orleans Louisiana
Investing in tax lien properties can stir up controversy in some circles, but the purpose of this article is not to debate the pros and cons of tax lien investing. It is simply to outline how a real estate investor would invest in tax lien properties. Continue reading
Housing 21% Undervalued Compared to Disposable Income, Researchers Say
Research firm Capital Economics released a study showing that in the fourth quarter of 2010, residential real estate was undervalued to the tune of 21% when comparing the Case-Schiller home price index to disposable income per capita.
The firm said its research suggests that “housing is exceptionally undervalued”. Continue reading
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New Orleans Real Estate Records Fully Restored- Or Not?
According to a Times Picayune article by David Hammer which appeared on Nola.com on Thursday, February 3 2011 a city court official said all mortgage and conveyance records have been fully restored. Interestingly enough, I was at a real estate closing last week at a well known New Orleans real estate attorney’s office when I asked them if this was true. The response I got was “as far I’m concerned they are not restored”. Continue reading
Posted in New Orleans Real Estate
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Real Estate Investing – Buy Tax Lien Property at Government Auctions
Ben and I, both seasoned New Orleans real estate investors, uploaded this video to Youtube over a year ago. Seeing as it currently has over 4,000 hits and increasing daily, we thought it silly not to have it on one of our own sites!
So here it is, the story of how Ben parlayed Continue reading
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Luxury 3 Plex For Sale Uptown Owner Financing
This is a rare opportunity to take advantage of low interest rates to expand your real estate investment portfolio or owner occupy a beautiful Uptown New Orleans home with substantial rental income. Get a low rate mortgage or take advantage of owner financing offered by the seller. As the real estate agent handling this transaction, I am prepared to help figure out a financing option that will allow the right buyer to get into this property with long term wealth building in mind. See more about this property on the property page: 542-44 Lowerline Luxury New Orleans Real Estate For Sale
