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opinions on investing in property in Old Goodwood area
Posted on 4/21/15 at 3:22 pm
Posted on 4/21/15 at 3:22 pm
Some family friends recently purchased a 2BR home in Old Goodwood between Government and Florida. They were looking for 2 of 3 BR homes around BR and found that the prices in that area were much lower than in Southdowns, the Garden District, and Capital Heights. Since this is intended to be an investment property, does this seem like a smart move? Do you think Town Center and the Government Street Projects will have a positive effect on home prices that far down Government Street?
4
Posted on 4/21/15 at 3:37 pm to kingbob
Town Center isn't impacting Old Goodwood as much as the dustbowl that is the Florida/Airline corridor East of Airline is.
I wouldn't touch the Old Goodwood area for love nor money right now. It's on its way down. Maybe not now. Maybe not in 2 years, but I'm guessing you aren't investing in RE for the short/near term.
I wouldn't touch the Old Goodwood area for love nor money right now. It's on its way down. Maybe not now. Maybe not in 2 years, but I'm guessing you aren't investing in RE for the short/near term.
Posted on 4/21/15 at 3:38 pm to kingbob
quote:
Old Goodwood between Government and Florida
Is that not pretty much ghetto now?
Posted on 4/21/15 at 3:47 pm to DirtyMikeandtheBoys
quote:
Is that not pretty much ghetto now?
No. It's like 80% white with next to no crime.
Posted on 4/21/15 at 3:47 pm to DirtyMikeandtheBoys
quote:
Is that not pretty much ghetto now?
no. Drive down Kenwood and donmoor. Pretty nice houses in there. I'm not sure I'd invest in there. Seems pretty stagnant but not a terrible location to live by any means.
Posted on 4/21/15 at 3:51 pm to Motorboat
quote:
I'm not sure I'd invest in there. Seems pretty stagnant but not a terrible location to live by any means.
This was my opinion.
I was a little surprised when they told me. I guess they just weren't willing to pay the premium for a similar property in the Garden District or Capital Heights or patient enough to buy a POS fixer-upper.
This post was edited on 4/21/15 at 3:52 pm
Posted on 4/21/15 at 4:06 pm to kingbob
I only spent 4 years at LSU so my experience with BR is limited. I bet real estate is a bit of moving target with all the land that was/is available. They can always build the next new "It" neighborhood for those who can't afford the central locations. Which is the probably the case every where but something about New Orleans' "landlocked" geography gives me hope I don't have to deal with at least that issue.
Posted on 4/21/15 at 4:45 pm to Teddy Ruxpin
Just as New Orleans is hemmed in by water, BR is hemmed in by traffic. To get anywhere in BR, one has to cross through certain "choke points" and certain "walls". Pretty much every I-10 interchange is a "choke point", the interstates, Florida Blvd, lee, and Airline Highway (and occasionally Coursey and Sherwood) and are all very effective walls.
The real estate game in Baton Rouge is finding a home that meets your needs while allowing one access to their employer, school, and favorite activities while having to cross the fewest number of obstacles on a daily basis AND avoiding crime and bad schools.
With that being said, there are only a few neighborhoods that are pretty much nearly immune to traffic to get most places one would want to go (assuming they work near the river, mid-city, or downtown) and those are Plank Road (ghetto), Old South Baton Rouge (ghetto but about to start gentrifying), North Mid City (Ghetto), South Mid City (gentrification in progress), The Garden District (expensive post gentrification), Capital Heights (see Garden District), Old Goodwood (midling to high south of gov, cheap north of gov), Bocage (expensive country club), and to a lesser extent, Southdowns (Lee Drive is a b&%*h).
The rest of the city is a gauntlet of hoops to jump through every day to get where you want to go. Seeing as Old Goodwood is the least expensive of these neighborhoods that doesn't have a murder rate the envy of Kobane, Syria (a Kurdish town near the Turkish border that is currently besieged by ISIS), it seems to at least make sense in that respect.
The real estate game in Baton Rouge is finding a home that meets your needs while allowing one access to their employer, school, and favorite activities while having to cross the fewest number of obstacles on a daily basis AND avoiding crime and bad schools.
With that being said, there are only a few neighborhoods that are pretty much nearly immune to traffic to get most places one would want to go (assuming they work near the river, mid-city, or downtown) and those are Plank Road (ghetto), Old South Baton Rouge (ghetto but about to start gentrifying), North Mid City (Ghetto), South Mid City (gentrification in progress), The Garden District (expensive post gentrification), Capital Heights (see Garden District), Old Goodwood (midling to high south of gov, cheap north of gov), Bocage (expensive country club), and to a lesser extent, Southdowns (Lee Drive is a b&%*h).
The rest of the city is a gauntlet of hoops to jump through every day to get where you want to go. Seeing as Old Goodwood is the least expensive of these neighborhoods that doesn't have a murder rate the envy of Kobane, Syria (a Kurdish town near the Turkish border that is currently besieged by ISIS), it seems to at least make sense in that respect.
This post was edited on 4/22/15 at 7:45 am
Posted on 4/21/15 at 4:50 pm to kingbob
I'm amazed at the amount of shite you can type in a day. Solid assessment though.
Posted on 4/21/15 at 5:05 pm to kingbob
Ya, I remember playing the traffic game. I had a variety of weird routes I could take to avoid things.
I'm sure its only gotten worse.
I'm sure its only gotten worse.
Posted on 4/21/15 at 6:28 pm to kingbob
Nice write up. What do you do for a living?
Posted on 4/21/15 at 10:26 pm to GFunk
Old goodwood ain't going down anytime soon.
Posted on 4/22/15 at 7:40 am to bayoubengals88
quote:
Nice write up. What do you do for a living?
Train Engineer
This post was edited on 6/8/15 at 7:50 pm
Posted on 4/22/15 at 7:54 am to kingbob
quote:
Construction Engineer
Are you really and Engineer or a CM grad? Just a question because most of the time they give this title to introductory CM majors who are initially sent out to the field.
Posted on 4/22/15 at 7:56 am to TigerSaint1
quote:
CM majors who are initially sent out to the field.
Poor saps.
I'm going to be a conductor.
This post was edited on 6/8/15 at 7:51 pm
Posted on 4/22/15 at 8:25 am to kingbob
We have rentals in GD and Capitol Heights area. It's always a little tougher to rent the Cap properties. I'd imagine it would be worse in the area you are describing.
The area isn't bad but it's been that way for a long time. I don't think Town Center had an affect, i don't think Govmt will either.
The area isn't bad but it's been that way for a long time. I don't think Town Center had an affect, i don't think Govmt will either.
Posted on 4/22/15 at 9:07 am to kingbob
Good deal, I graduated in CM as well. 
Posted on 4/22/15 at 9:24 am to TigerSaint1
quote:
Good deal, I graduated LSU as well.
Get outta town, man!
No seriously, get out of town. This city's not big enough for the both of us
This post was edited on 6/8/15 at 7:49 pm
Posted on 4/22/15 at 10:28 am to kingbob
Different companies I'm sure. Plenty of Industrial work on our end. I will be on my current project for at least another year. And if we can get the price of oil back up to around $80-$90, there will be plenty of work for all of us.Posted on 4/22/15 at 10:35 am to TigerSaint1
quote:
Engineer
quote:
CM grad
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