Local businessman Sidney Torres IV stars on “The Deed,” a CNBC show on which he provides advice to real estate investors who’ve gotten in over their heads. Episodes take viewers into New Orleans neighborhoods where he typically puts his own money into the featured project, sharing business and life lessons along the way.
How does Torres determine where to invest in property? He detailed some of his selection criteria in a video and story posted on CNBC’s website Wednesday (June 20).
While not specific to New Orleans, he advises seeking opportunities in up-and-coming areas, what he called the “‘sweet spot’ between the fancy areas and the fringe,” according to the CNBC report.
What do these areas look like? Torres says you should drive around different neighborhoods looking for certain signs.
“The first thing I look for is, is it clean? Is there litter all over the ground? Are there tree branches that are laying around? Are they trimming the trees? Are the neighbors cutting their grass? … Are the streets paved? Are there a lot of potholes?”
In further explaining his methods, Torres uses a clear New Orleans reference.
“If a city is not taking care of the potholes and they’re not trimming the neutral ground, that means that they don’t think this neighborhood is that great. But when you have an area where it’s all manicured, the litter is picked up — that shows that the city is investing money in this area because they believe in it. They see it coming up.”
Original article found at: https://www.nola.com/business/index.ssf/2018/06/sidney_torres_next_hot_neighbo.html