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Started By
Message
Vacation home in Louisiana?
Posted on 10/1/21 at 11:43 pm
Posted on 10/1/21 at 11:43 pm
Hey guys
Self-indulgent thread, my apologies.
However I’m an Aussie who (pre-COVID) was travelling to Louisiana nearly every year. Normally staying in/around NOLA but travelling up to Baton Rouge, especially to see the Tigers play. Had some wonderful hospitality from people, including from this board. Always feels like a second home to me - which is kinda the purpose of this thread I guess!
Anyway I digress - I’ve always wanted to buy a place and it seems more workable than ever given I can do my job remotely. Realistically I could come to LA for 4-8 weeks per year, especially during football season.
My initial thought was buying in/around NOLA being a Saints fan too but there’s a question as to what to do with the place when I’m not there and my sense is that using it as a short-term rental (AirBNB) will be much more bearable than letting it sit vacant. Certainly the rental income would help cover the mortgage repayments.
However NOLA (and even surrounding areas like Slidell) have or are in the process of introducing pretty strict STR rules. It seems that you can only really get a licence these days if you’re an owner-occupier.
In light of that I was looking out around Baton Rouge as the rules seem more lenient (for now) and I imagine it might at least be popular if there was some close proximity to Tiger Stadium for out of towners or visiting fans (again, when I’m not there). Plus prices are comparatively a little cheaper than some of the nice areas in NOLA.
Do y’all think this is sensible or realistic? Does anybody have any area/suburb recommendations?
Or should I just keep forking out thousands of dollars every time to stay in someone else’s rental and avoid all the hassles that go with renting, maintenance, insurance an admin that go with being 24 flying hours away?
I’d be grateful for any feedback.
Self-indulgent thread, my apologies.
However I’m an Aussie who (pre-COVID) was travelling to Louisiana nearly every year. Normally staying in/around NOLA but travelling up to Baton Rouge, especially to see the Tigers play. Had some wonderful hospitality from people, including from this board. Always feels like a second home to me - which is kinda the purpose of this thread I guess!
Anyway I digress - I’ve always wanted to buy a place and it seems more workable than ever given I can do my job remotely. Realistically I could come to LA for 4-8 weeks per year, especially during football season.
My initial thought was buying in/around NOLA being a Saints fan too but there’s a question as to what to do with the place when I’m not there and my sense is that using it as a short-term rental (AirBNB) will be much more bearable than letting it sit vacant. Certainly the rental income would help cover the mortgage repayments.
However NOLA (and even surrounding areas like Slidell) have or are in the process of introducing pretty strict STR rules. It seems that you can only really get a licence these days if you’re an owner-occupier.
In light of that I was looking out around Baton Rouge as the rules seem more lenient (for now) and I imagine it might at least be popular if there was some close proximity to Tiger Stadium for out of towners or visiting fans (again, when I’m not there). Plus prices are comparatively a little cheaper than some of the nice areas in NOLA.
Do y’all think this is sensible or realistic? Does anybody have any area/suburb recommendations?
Or should I just keep forking out thousands of dollars every time to stay in someone else’s rental and avoid all the hassles that go with renting, maintenance, insurance an admin that go with being 24 flying hours away?
I’d be grateful for any feedback.
11
Posted on 10/2/21 at 5:34 am to Poison
quote:
Or should I just keep forking out thousands of dollars every time to stay in someone else’s rental and avoid all the hassles that go with renting, maintenance, insurance an admin that go with being 24 flying hours away?
Yes. What if the house gets weather damage of any sort? Dealing with SELA contractors is bad even if you are within walking distance of them.
That said I'm biased and don't think SELA is an appropriate place for a vacation home when Florida is so close by.
Posted on 10/2/21 at 6:04 am to USMCguy121
quote:
Yes. What if the house gets weather damage of any sort? Dealing with SELA contractors is bad even if you are within walking distance of them.
That said I'm biased and don't think SELA is an appropriate place for a vacation home when Florida is so close by.
Thanks mate. This kind of local knowledge is really valuable because I don’t have it. Obviously the weather damage is a major concern and while I understand FEMA has different gradings for flood-prone areas, high winds are a different proposition. But if you’re suggesting I’m going to find it hard to get a contractor to fix any damage, or to do a proper job of it should it occur, then certainly that’s a cost I’d have to take account of and might make it less attractive.
And it’s funny you mention Florida as I have a former colleague who bought there as an Australian too and travels there several times a year. I guess the point with Florida is if I’m going to go there and commute to LSU/Saints games I may as well be coming from Australia.
I like Miami and I’ve spent plenty of time in Tampa and Orlando but none of them hold any particular appeal for me to spend 8 weeks a year every year as opposed to Louisiana.
This post was edited on 10/2/21 at 6:07 am
Posted on 10/2/21 at 6:44 am to Poison
Does the CEntral Business or Warehouse District interest you? There would be less maintenance involved because you would likely buy a place with a condo association responsible for common areas, roof etc. The Air bnb rules are also looser you would just need to make sure the place you choose allows it.
This post was edited on 10/2/21 at 6:45 am
Posted on 10/2/21 at 7:08 am to lighter345
quote:
Does the CEntral Business or Warehouse District interest you? There would be less maintenance involved because you would likely buy a place with a condo association responsible for common areas, roof etc. The Air bnb rules are also looser you would just need to make sure the place you choose allows it.
Thanks for the reply - do you mean in New Orleans? If so; for sure, I’d be happy with a condo in either of those places. I had assume that the ban on STRs included those places but if that’s not accurate then that might be worth looking into further? I could be wrong but it seems to me that condos are comparatively cheaper than freestanding houses (which isn’t always the case where I am from)?
Posted on 10/2/21 at 7:55 am to Poison
That was my thought, also. Sounds like you might be best fit by a New Orleans warehouse district condominium. Good luck.
Posted on 10/2/21 at 9:02 am to Poison
Just my opinion, but for only 1-2 months a year—I’d just rent a house or apartment for that time. The cost of insurance and taxes of owning would be the same amount. Gives you more flexibility on changing locations year to year. I wouldn’t want to be an out of state landlord, much less halfway around the world.
Posted on 10/2/21 at 9:07 am to Poison
just rent (Airbnb) unless there is some compelling reason to own. Those reasons should be limited to
A. You want the investment
B. You have a ton of personal items you need/want to leave at the 2nd place
A. You want the investment
B. You have a ton of personal items you need/want to leave at the 2nd place
Posted on 10/2/21 at 9:13 am to Poison
At first I was like who the shite wants a vacation home in LA. Then I saw you are in Australia, frick that place, get the shite out of that Nazi state, we will gladly take you.
Posted on 10/2/21 at 9:56 am to cgrand
quote:
Just my opinion, but for only 1-2 months a year—I’d just rent a house or apartment for that time. The cost of insurance and taxes of owning would be the same amount. Gives you more flexibility on changing locations year to year. I wouldn’t want to be an out of state landlord, much less halfway around the world.
quote:
just rent (Airbnb) unless there is some compelling reason to own. Those reasons should be limited to A. You want the investment B. You have a ton of personal items you need/want to leave at the 2nd place
These are both good points.
I guess the query for me looking longer term is, if it’s realistic for me to come for 4-8 weeks per year for say the next decade, that’s a cumulative amount of $40-$50k on short-term rentals (after which I have nothing to show for it).
I guess I’d have to weigh that up against buying a 1BR / 2BR condo with capacity to sleep up to four for say $250k-$300k and acquiring an asset in the process. It may not be occupied all the time but I imagine there’d be months like with Mardi Gras etc. when the rental income would be greater than the mortgage repayments. But there’s obviously insurance, management costs, etc as you rightly point out.
Posted on 10/2/21 at 12:32 pm to Poison
Go ask this question on the Money Board and see what they say.
Posted on 10/2/21 at 1:14 pm to Poison
Sorry for the off topic question but someone told me a long time ago that Australia allows immigration and citizenship for doctors, nurses, and engineers. Is this true?
Posted on 10/2/21 at 1:23 pm to Poison
I'd absolutely go with a low-hassle warehouse district condo. Some of the newer buildings are expensive but very nice and built well.
As far as renting it out, yeah that works in a place like that, the politicians aren't concerned like they are in the single family market with pricing out the locals.
Just understand that fall is a pretty busy time around here, so if you are staying here in the fall, that's going to cut out a decent part of the best times to rent it out.
You of course would be able to rent it out in the season from Mardi Gras through Jazz Fest.
But no one is renting them in August here, and not too many in the dead of winter, either.
I would absolutely try to connect with a local realtor and try to find a condo in a good building but that isn't sky high on pricing. It would not shock me at all to find out that we are at peak pricing right now.
As far as renting it out, yeah that works in a place like that, the politicians aren't concerned like they are in the single family market with pricing out the locals.
Just understand that fall is a pretty busy time around here, so if you are staying here in the fall, that's going to cut out a decent part of the best times to rent it out.
You of course would be able to rent it out in the season from Mardi Gras through Jazz Fest.
But no one is renting them in August here, and not too many in the dead of winter, either.
I would absolutely try to connect with a local realtor and try to find a condo in a good building but that isn't sky high on pricing. It would not shock me at all to find out that we are at peak pricing right now.
Posted on 10/2/21 at 6:52 pm to Jibbajabba
quote:
Sorry for the off topic question but someone told me a long time ago that Australia allows immigration and citizenship for doctors, nurses, and engineers. Is this true?
This is generally correct. Australia has a list of occupations where there are “skill shortages”. In terms of doctors, nurses, engineers, IT professionals etc my impression is there is a view that we’d always like more well-trained people in certain areas (it takes 7+ years and costs the government 100k+ to get a Medicine degree here) even there’s not a clear overall shortage.
If you have qualifications in one of those areas it is easier to come here on a skilled migration type visa. Some of them require employer sponsorship and others don’t. Some of the visas will count toward permanent residency and others won’t. The easiest way to migrate to Australia as a medical professional would be on one of the regional subclass visas which essentially requires you to go and work in a rural area for a designated period (3 years or something) because it is harder to attract qualified people to those areas and then after that period you get permanent resident status and can work wherever.
There’s a detailed list of occupations on this page:
LINK
Posted on 10/2/21 at 6:59 pm to LSUFanHouston
quote:
You of course would be able to rent it out in the season from Mardi Gras through Jazz Fest.
But no one is renting them in August here, and not too many in the dead of winter, either.
I would absolutely try to connect with a local realtor and try to find a condo in a good building but that isn't sky high on pricing. It would not shock me at all to find out that we are at peak pricing right now.
Thanks for this; I’ve just been put in contact with an Australian guy that migrated to Louisiana and is a realtor there. Presumably a rare (but hopefully helpful) combination.
Your point about vacancy times is a good one too, appreciate it. The reality is I am unlikely to be there during Mardi Gras or Jazz Fest myself. Most likely around November which is I assume a softer period anyway.
Posted on 10/2/21 at 9:24 pm to Poison
Well, if that guy was right about the immigration policy, I wonder if he was right about the second part.
He also claimed that you had to make a deposit of $50,000 to the government when you were issued your visa, but that you would get it back in 3 years. This was, as he put it, to make sure they were only allowing financially independent people into the country. If you could afford to let the government hold 50k for 3 years, you were a pretty safe bet that you won’t be a mooch.
He also claimed that you had to make a deposit of $50,000 to the government when you were issued your visa, but that you would get it back in 3 years. This was, as he put it, to make sure they were only allowing financially independent people into the country. If you could afford to let the government hold 50k for 3 years, you were a pretty safe bet that you won’t be a mooch.
Posted on 10/3/21 at 5:48 am to Poison
LaPlace is beautiful this time of year and inbetween Nola and br
Posted on 10/3/21 at 4:11 pm to Poison
Buy a place on Lake Bruin.
Book hotels in NO and BR when needed.
You are welcome.
Book hotels in NO and BR when needed.
You are welcome.
Posted on 10/3/21 at 5:30 pm to Poison
Look around Biloxi. You can rent it easy due to the casinos.
Posted on 10/3/21 at 8:33 pm to Poison
quote:
Most likely around November which is I assume a softer period anyway.
Late November is softer than October / early November. We do have Bayou Classic in late November which brings crowds.
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