I have had a ton of education on Real Estate investing this past year, specifically rehabbing and wholesaling, and am considering starting another business this year. I have access to private capital already and was wondering what the market in Baton Rouge is like right now. Will primarily be looking for distressed properties. So far it seems like the safest bet is the rental market from the research I have done so far. What do you guys/gals think about the market for rehabbing and wholesaling. Are properties selling fast in the Baton Rouge area?

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Posted by Delacroix

Member since Oct 2008

3985 posts

Posted on 1/21/15 at 11:00 am to joeytiger

My good friend is a real estate agent in BR and he is closing deals left and right. The market is good right now. There's more buyers than inventory, but what concerns me is the numerous large developments. Hopefully the market doesnt drop when the new construction homes are sold.

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Posted by LSUengineer12

The Best Side

Member since Dec 2011

1850 posts

Posted on 1/21/15 at 11:01 am to joeytiger

I feel like it's a buyer's market with rates as low as they are.

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Posted by joeytiger

Muh Mom's House

Member since Jul 2012

6037 posts

Posted on 1/21/15 at 11:08 am to LSUengineer12

Yeah, I am finding that inventory is low, and I am putting in 30-40 offers a month right now with the hopes that I get 1 under contract with a price that is under market value in order to turn a nice profit. The garden district is where I am concentrating most of my marketing and research because it is a hot area, but like you said, inventory is very low. I might start looking at older homes in the Ascension area as well to allow a better chance of landing a contract, but it will require more purchasing power to buy in that area.

This post was edited on 1/21/15 at 11:10 am

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Posted by iknowmorethanyou

Paydirt

Member since Jul 2007

6545 posts

Posted on 1/21/15 at 1:25 pm to joeytiger

It's certainly not glamorous but there's money to be made rehabbing and renting mobile homes.

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Posted by 19thHole

Working on my TPS reports

Member since Dec 2007

4908 posts

Posted on 1/21/15 at 1:29 pm to joeytiger

In my opinion, real estate is always a good strategy and certainly an important piece of someone's overall portfolio/net worth.

At the end of the day, whether you are selling or renting or holding...you have land and they aren't making any more of that...

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Posted by Delacroix

Member since Oct 2008

3985 posts

Posted on 1/21/15 at 4:11 pm to joeytiger

quote:
Yeah, I am finding that inventory is low, and I am putting in 30-40 offers a month right now with the hopes that I get 1 under contract with a price that is under market value in order to turn a nice profit. The garden district is where I am concentrating most of my marketing and research because it is a hot area, but like you said, inventory is very low. I might start looking at older homes in the Ascension area as well to allow a better chance of landing a contract, but it will require more purchasing power to buy in that area.

Ascension wouldnt be a bad place to look. My Realtor friend just bought a flip house in Dutchtonw that he's likely to turn at least a 30k profit.

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Posted by stout

Smoking Crack with Hunter Biden

Member since Sep 2006

167108 posts

Posted on 1/21/15 at 6:02 pm to joeytiger

quote:
Yeah, I am finding that inventory is low, and I am putting in 30-40 offers a month right now with the hopes that I get 1 under contract with a price that is under market value in order to turn a nice profit.

It's going to be really hard to snag a good flip property this way. All of the good deals get bought by realtors or clients they have sold numerous investment properties to before the general public knows about them. You need to get more creative if you are trying to get into flipping.

This post was edited on 1/21/15 at 6:39 pm

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Posted by Fat Bastard