Episode #60 - Deal of the week - Lafayette, LA | Summary and Q&A

TL;DR

This podcast episode discusses the analysis of a property for sale in Lafayette, Louisiana, which has already been renovated on the inside but still needs improvements on the outside.

Key Insights

• 👯 Lafayette, Louisiana is the fourth largest city in the state, with a population of about 120,000 people.
• 🎓 The property in Lafayette consists of 124 units and is located in the college zone.
• 👪 The average rent for the units in Lafayette is around $670, with market rent at $689.
• 🪡 While the inside of the units has been recently renovated, the exterior of the property still needs improvements.
• ❓ The asking price for the property is around $6 million, but the suggested purchasing price is around $4.6 million.

Transcript

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Questions & Answers

Q: What are the demographics and population of Lafayette, Louisiana?

Lafayette is the fourth largest city in Louisiana, with a population of about 120,000 people. The metro population is around 490,000.

Q: How many units does the property in Lafayette have?

The property in Lafayette has a total of 124 units.

Q: What is the average rent for the units in Lafayette?

The average rent for the units in Lafayette is around $670, with market rent at $689.

Q: What are the renovation needs for the property in Lafayette?

While the inside of the units has been renovated, the exterior of the property still needs improvements.

Summary & Key Takeaways

• The property is located in Lafayette, Louisiana, which is the fourth largest city in the state. It consists of 124 units and is situated in the college zone.

• The units range from one to three bedrooms, with rents averaging around $670. Market rent is around $689.

• While the inside of the property has been recently renovated, the exterior is in need of improvements.