This is your home for market updates.
There are currently 20 multi unit properties that are perfect for investment and for owner-occupier investment (live in the property and make an income on the other units).
The featured image to the right is located in 70127 and selling for only $165K.
The featured image to the left is located in Orleans right at the edge of Metairie and is under $200K.
Email me or call to get a look at this one or any of the other 20 available now.
To prevent criminals from opening bank, utility and phone accounts in your name, you need more than a credit freeze. Here's what to do according to a report on USA TODAY.
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1. Louisiana has down payment funds available with no extra work on your part. This is available to all Louisiana residents, but is only available through some lenders. In Orleans, I have a contact who can assist you.
2. City and parish level down payment and closing cost funds are available but there may be additional requirements. They are worth it, and detailed below. (Orleans and Jefferson parishes)
LOUISIANA STATE-WIDE INFO
First of all, the state has funds available for down payment assistance that do not require any extra work on your part. No classes, no extra applications or anything. This is the program I used to purchase my first property.
You apply for your mortgage and mention that you are a first time buyer and you want the down payment assistance. Your banker will tell you how much is available and help you prepare to shop for a property.
Also, you can buy a single family or multi-family property as long as you live in the property for one year after purchase.
But there is a program in Orleans that covers down payments and closing costs, reducing your out of pocket costs to almost $0 for the purchase of your first property. However, you will need to complete a course and other requirements as listed below.
JEFFERSON PARISH INFO
(the following was sent to the brokerage I work with, from lenders in Jefferson Parish)
Good morning –
I wanted to let you know that Jefferson Parish Department of Community Development opened their program yesterday, 05/20/2019. You and your client(s) can go to their website www.jeffparish.net for any questions or concerns. Jefferson Parish has up to $40,000.00 for down payment, closing cost and prepaid assistance. City of Kenner has up to $50,000.00 for down payment, closing cost and prepaid assistance. City of Kenner clients can also be directed to the Jefferson Parish Department of Community Development website. Please let me know if you should have any questions.
Have a nice day!
NEW ORLEANS INFO
The following comes directly from: Nola.gov's Community Development page.
CITY OF NEW ORLEANS DIRECT HOMEBUYER ASSISTANCE PROGRAMDirect Homebuyer Assistance Program
The Direct Homebuyer Assistance Program provides down payment and closing costs subsidies to eligible first- time homebuyers. Subsidies made available to Homebuyers Bridge the gap between the purchase price of the home and the maximum first mortgage loan amount. Subsidies also include closing costs.
The City of New Orleans Office of Community Development is pleased to announce that $3,000,000 in Community Development Block Grant funds (CDBG) will be made available for the Soft Second Mortgage Program beginning March 11, 2019. This program is a direct homebuyer assistance program that provides down payment and closing cost subsidies to eligible first-time homebuyers whose income does not exceed 80% of the Area Median Income (AMI). The Soft Second Mortgage Program assist Homebuyers to bridge the gap between the purchase price of the home and the maximum first mortgage. Eligible homebuyers may receive up to $35,000 in soft second funds and up to $5,000 in closing cost assistance.
To qualify, the buyer must:
Please contact Tonya Bernard 504-658-4245, Taymia Muse 504-658-4243 or Lindsay Smith 504-658-4244
There are deals out there, and I use my time and skills to locate exactly what matches my client's goals. If you are an investor, here are 3 properties that are low priced and likely to be profitable. Whether you are a first time investor or a seasoned one.
Not an investor? Send me a message (firstname.lastname@example.org) or leave me a comment and I'll locate some great options for you.
Under the new tax law (effective 2018) the first $250,000 from a home purchase are tax free for single individuals and up to $500,000 for those married and filing jointly. (Shout out to extra savings for the loving couples out there.)
Don't sell just to take advantage of the current tax law. BUT if you have been thinking about selling, it would be a good idea to make that move before the end of the year.
Every year, the government makes decisions about fiscal matters, such as taxation. This means the current tax free benefit might not be there next year.
I'm ready to work for you and get you the profits you deserve. Let's grow your wealth.
Source: Snider, Susanne. US News & World Report, "What Are the Tax Benefits of Buying a House?," Ocr 17, 2018.
How to Read Your Electric Meter
Next, it's important to know how to read your electric meter. This way, you can monitor how much electricity your home is actually using in real time. Ask your utilities provider for specific information on reading your electric meter, or check their website for instructions.
After you have a handle on your average electricity use, it’s time to look at steps that you and your family can take to save on your electricity bill. For the best results, it’s important to get all the members of your household on board with your efforts. To motivate everyone, stress that any dollar savings from striving for the cheapest electricity possible can be used for other things, such as entertainment, dining out, or vacations.
For more info on savings from this article Click HERE
Although buying a new house can be exciting, it can take some time for it to feel like home. Everywhere you look, you are met with little reminders that someone else occupied the home before you did.
These tips can help you turn your new house into a home much faster.
Give the walls a fresh coat of paint. Even if the paint is new, it can feel odd if you are living in a house with colors that you would not have chosen. The best time to paint is when you first buy the house. Putting off this task until you have moved in will require that you move or cover all of your furniture.
(Get more suggestions and mortgage advice by clicking HERE)
Most people don't even try.
It's a fact and a sad one. Most people think up an idea about their goals or an experience they'd like to have but then... by the time they get to the end of their thought, they have already convinced themselves it will never happen.
This, my friends, is the "internal No," and it's the single biggest entity that stops progress. Why? Because most ideas never get past the person who had them to begin with.
Don't be that person.
I have a theory that a lot of Americans function this way.
How many times have you and people you know said the following: "Wow. When someone immigrates here, they really do well!" "Oh it's because they work as a team I bet." "If only we worked together like that."
Here's the thing about that conversation, it's both true and false.
On the one hand, yes, a lot of immigrants do well within a few years of living here, and in some cases, there was a teamwork effort that made that process work. BUT NOT ALWAYS.
The difference between most people who immigrate to the states and those of us born here is this: the assumption of No.
Far too many Americans are controlled by the internal No, and today is not the day I debate on the reason we have this issue. What's critically important today is, that YOU DEFEAT YOUR NO.
How do you do that?
#1 Solve the Yes Puzzle
Every dream, idea, goal etc has a way that makes it possible. Your goal is to find out how to get there. Imagine your goal as a destination you want to get to. A simple goal could be a grocery store down the street, while a bigger goal could be a trip across the country.
Obviously the larger goal has more possibilities that you'll need to take a few detours or that there might be unexpected delays. However, just like travel, ALL TRIPS ARE POSSIBLE, which means that ALL IDEAS ARE TOO.
Map it out. Do the research. Make notes. Talk to others (not the doubters. Talk to people who have knowledge related to your idea and a few people who don't just to get a few possible queries into what you should look for and ask.)
#2 We'll get to part 2 in a later discussion. Today is all about defeating the Internal No and DEVOTING YOURSELF TO THE YES.
#1 Moving to a new place
If you are moving to a new city, it helps to have a local agent shop for you. Imagine the horror and discomfort of selecting a place but you have no idea what's in the neighborhood. Does it have any parks? Is there a grocery store within walking distance? Is it a good grocery store or just a convenience store? What's the noise level? Crime rate? Street lights? etc.
By hiring a local agent, you can choose something with greater confidence.
#2 Business owners
Whether you are opening your first location or expanding, an agent can find a location with knowledge. Agents should know zoning regulations, and future zoning plans for a property. This can ensure you don't sign a lease for a space that isn't suitable for your business.
Also, agents can negotiate rental prices since they have greater knowledge of the rental markets and what is a fair market price.
NOTE: Paying a flat rate instead of a commission can help save you money. I don't charge commissions for rental space searches because I want my motivation to be finding you a great place and saving you money. If an agent is commission based, they are motivated to find a more expensive space since that increases their paycheck.
#3 Students or travelers
If you need a quick spot for a semester or just for a month long visit, Airbnb is cool and all, but as wel all know, you can't really be sure the person you rent from isn't a nuisance, and you really can't be sure what kind of neighborhood you're renting in.
Agents can preview all types of listings, not just Airbnb's and can locate a great temporary location for you with easy access to services, like public transportation, groceries, emergency services and more.
2008-10 Annette St - Excellent rental location or owner occupied rental
This double could be a space you live in and rent out the other side, or you can keep the current tenants in place, and make a profit from day one.
Listing Agent describes it as follows:
Great investment property featuring 2 beds/1 bath on each side. Central heat/air. Laundry. Fully rented.
Asking price: $145,000