Investment properties are booming in popularity across the country. While long-term rentals carry steady demand, short-term rentals have grown in attractiveness. Whether a new investor or experienced, top real estate agents in Baton Rouge LA can help you find the perfect investment property.
From booming tourism in New Orleans to spectacular natural beauty, the state of Louisiana offers many opportunities for real estate investors. While home prices continue to rise across the state, the median home price is still $213,658, about 67% below the national average. Many beautiful cities in Louisiana are worth investing in real estate, but we’ve focused on the five most populous cities. We analyzed data on affordability, property price trends, short-term rental options, infrastructure, and amenities to assess each city’s investment potential. If one of the cities on our list catches your eye, the next step is to contact a local real estate professional who can easily find you the prime real estate you want to purchase to meet your investment goals, which can be achieved with the qualified services of realtors in Louisiana. Top real estate agents can help you make suitable investments when investing in Louisiana real estate.
A real estate agent is the first person you meet when looking to buy real estate in Louisiana. They act as an intermediary between sellers and buyers. These professionals ensure everyone is satisfied during the real estate process and walk through each detail with the client. The representative will inspect the apartment with the client, resolve any issues, and help compile all necessary documents. The number of documents increases if you take out a mortgage to purchase a home. The complex real estate market may take time to find the best opportunity to buy or sell real estate in Louisiana.
Some agencies are engaged in selling apartments from the primary real estate portfolio, others in the secondary real estate market, and still others in renting non-residential buildings. Actively cooperating with a real estate agent, you will have the opportunity to understand the fundamental laws of the market, learn to work with documents, and communicate with clients.
How to conclude a contract correctly?
If you want to use the services of a real estate agent, you will be offered to sign a contract. Think carefully before signing. Pay attention to the following features:
The nature of the contract and the services provided should be described at the beginning of the document. Be careful and clarify which assistance is included in the commission, which must be paid additionally. The contract should be clear and informative about what you are signing and agreeing to.
Be clear about your tasks, such as providing the necessary documents, assisting in the inspection, and disclosing any known issues.
Discuss the cost and type of service (payment hourly or as a percentage of the transaction). Understand when and how the agent will be paid.
Two copies of the contract are required. You and your real estate agent should ensure the contracts are identical before signing.
Sample contracts are available free of charge. It is worth looking for such samples on the Internet. Of course, each real estate agency develops its own, considering the specifics of its services. However, it is worth reading the examples to understand how the document will look. Contact a specialized Louisiana real estate agency that has worked in this field for a long time. Their services may be more expensive than services from lesser-known companies, but you will receive high-quality service. You need to approach real estate transactions responsibly and hire the best specialists. Whether you are looking for an apartment to rent or own an apartment and want to sell it, you need the help of a qualified real estate agent.
Let’s learn how to identify qualified specialists. Here are some tips on how to find a professional real estate agent in Louisiana.
Check out reviews from previous customers online. An experienced agent should have excellent reviews. If the business is new and has few or no reviews, carefully consider using such a real estate agent. You must assess their competence and integrity. Many real estate agents and companies in the market are giants of the profession and have been in the Louisiana real estate industry for years.
It helps if a friend or relative recommends a real estate agent. This is the best way to find a professional. It can create confidence in the honesty and quality of the work. You can learn company names from friends and relatives. Don’t be afraid to ask loved ones about their experiences with real estate agents. The more answers, the better. If you take the advice of an expert and evaluate them positively, use the services and look no further. Verified real estate agents are hard to come by, so take the advice of friends. Only work with experienced Louisiana real estate agents. The services of large agencies are more expensive than smaller ones, but you pay for quality and results, not luck.
Best place to rent a property in Louisiana: New Orleans
New Orleans hosts more than 130 festivals each year, including the famous Mardi Gras parade. In 2019 alone, millions of visitors spent more than $10 billion in the city. It’s a treasure trove of short-term rental opportunities and one of Louisiana’s best places to buy rental properties. In May 2022, the median home price in New Orleans was around $276,000, up sharply from $213,000 in 2016. The average rent for a two-bedroom apartment is $2,188 per month. But if you’re interested in a short-term rental, you can make a fortune. The average Airbnb property owner earns an average of $3,440 a month, but prices fluctuate during the city’s annual entertainment season.
Best place to rent a property in Louisiana: Baton Rouge
Baton Rouge, Louisiana’s capital city, is a historic city with many attractions for real estate investors. In 2022, the median home price reached $227,000, which is 25% more than in 2016. The typical rent for a two-bedroom property is $1,067 a month, up 12% in the past year alone. Louisiana State University (LSU) welcomes more than 35,000 students to its campus each fall and maintains a steady stream of tenants in need of housing. Buying real estate in Baton Rouge is an excellent opportunity to make a profit by renting out your property to students and the city’s many visitors. Even allowing for seasonal fluctuations in demand, Baton Rouge’s short-term real estate costs an average of $2,220 per month.
Best place to rent a property in Louisiana: Shreveport
Located on the border of Texas and Louisiana, Shreveport is an ideal market for real estate investors who cannot afford the state’s more expensive cities. The median price of a single-family home is just $127,000, which is 109% less than the national average. Real estate investors looking for long-term rental opportunities will find valuable rental opportunities in this market. The average monthly price for a two-bedroom apartment is $1,404, but prices are rising quickly. Rents in Shreveport have increased by 38% in the past year alone.
Best place to rent a property in Louisiana: Metairie
With a median home price of $328,000, Metairie is the most expensive market on this list. Home prices have been on the rise since 2016, when the median home price hovered around $230,000. Median rents for two-bedroom apartments fluctuated in 2022, falling to $1,206 and rising to $1,423. A long-term lease has a clear advantage over a short-term one in Metairie.
Best place to rent a property in Louisiana: Lafayette
Located in the southwestern part of the state, Lafayette offers relatively affordable housing prices, averaging $206,000 for single-family homes. The value of real estate is growing rapidly, by a staggering 12% per year. Residents pay an average of $1,044 per month for an average apartment. Surprisingly, short-term rentals in Lafayette are also very affordable.
Best place to rent a property in Louisiana: Slidell
Slidell is a small town about 40 minutes east of New Orleans. The central location is ideal for short-term rentals, averaging $325 per day. With an impressive 76% occupancy rate, this translates to $4,399 per month in income for investors.
The next step in investing in rental properties is to choose the property you want to buy at the price you want. From New Orleans’ year-round festivals to Slidell’s short-term rental market, Louisiana offers an impressive array of profitable real estate investment opportunities. Whether you are a resident or a foreign investor, you need a local real estate agent who can provide you with their skilled services and help you to invest in the market profitably and negotiate deals that are beneficial to you in purchasing profitable property options.
