re: how to use 200k to invest in real estate

In my opinion, not alot of good cheap properties listed in the big LV. You're betting that in 5-6 years the appreciation will beat the 7% you are going to lose in closing costs.

You'd need a good discounted property (perhaps the incentive for the seller is that you can do a cash deal?). Then, you'd have to hope that you could get double digit appreciation to get any real gains for when you sell.

I honestly feel like property values are too high in NOLA right now. The combination of insulation from the recession, slow hurricane seasons, and hollywood people here to scoop up real estate (rental and purchasing) has driven prices uptown to an all time high and lakeview is almost back to pre-katrina/economic boom prices.

Not saying it won't keep going up but 3 bed/2 bath pre-katrina cottages are in the $250-$350k range in Lakeview. Not sure financing will allow for wide scale demand for those types of homes to be listing at $350k-450k in 6-10 years. I'm not saying current prices are overvalued but I think they are fairly valued.

TL;DR: for what my opinion is worth, I think if you are looking for a long term place to live, buy in Lakeview. I wouldn't buy in Lakeview expecting big appreciation unless you find a really really good price compared to what is out there. Also, insurance and taxes are only going to go up in the future. I'm a 3rd generation lakeview guy and it is the best neighborhood in the city for safety, convenience, etc but I don't think there is significant investment upside- just good quality of life.