Ramsey Marcello, born and raised in New Orleans, Louisiana, returned to his roots to make a difference in the community that influenced him while growing up. He is passionate about helping others, from clients to his neighborhood.
Ramsey first attended Isidore Newman School and graduated in the year 2000. He then attended Vanderbilt University, completing a double major in economics/history and human and organizational development, graduating in 2004. Following this, Ramsey Marcello attended Tulane School of Law and received a J.D., graduating in 2009. After completing his education, Ramsey moved to Washington, D.C., and worked at Skadden Arps Law firm between 2004 and 2006. After Hurricane Katrina, he moved back to his hometown of New Orleans, Louisiana, to be a part of the city’s revival.
After moving back home, Ramsey found work as an attorney. By merging his finance and law knowledge and experience, Ramsey figured out how to stand out from his competitors and serve his clients better. He transitioned from a full-time attorney to a financial advisor and founded Southern Coast Wealth Advisors in 2018, where he currently serves as CEO. His company offers investment and insurance services for individuals and corporations, focusing on retirement and estate planning to ensure financial security for clients regardless of their current situation.
In addition to his professional responsibilities, Ramsey Marcello stays involved in his local community. He is committed to making positive changes in his neighborhood. As a philanthropist, he serves on several boards, including the Isidore Newman Alumni Association board, which supports graduates and ensures their success. He also serves on the Forum for Equality Foundation board, which advocates for policy changes and protects workers from discrimination. Ramsey is also a member of the Irish Channel Neighborhood Association, where he helps improve the quality of life within his community.
Ramsey Marcello on crafting a first-time real estate portfolio
Crafting your first real estate portfolio can be an exciting, rewarding experience but also overwhelming and intimidating. As a first-time investor, it’s essential to carefully consider your goals, budget, and risk tolerance before exploring the world of real estate investing.
The first step in crafting your real estate portfolio is defining your goals. Are you looking to generate passive income, build equity, or both? Are you interested in short-term or long-term investments? Understanding your goals will help you make informed property selection, financing, and risk management decisions.
Once you’ve defined your goals, determine how much money you have to invest and how risky you’re willing to be. Consider current income, expenses, debt, and long-term financial goals. This knowledge will determine how much you can afford to invest and what types of properties are within your budget.
Before investing in any property, research the market you’re interested in. Look at trends in property values, rental rates, and vacancy rates to get a sense of the market’s overall health. Consider factors such as location, demographics, and economic indicators.
Identify and research investment opportunities
Look for properties that fit your goals, budget, and risk tolerance, and consider factors such as location, condition, and potential for appreciation. Consider working with a real estate agent or property manager who has experience in the market and can help you identify potential investment opportunities. Once you’ve identified potential investment opportunities, research the property’s rental income potential, expenses, financing options, cash flow, and potential for appreciation to determine whether it fits your goals and budget.
Consider options such as traditional mortgages, private loans, or partnerships. Work with a financial advisor or real estate professional to determine the best financing option for your goals and budget.
Manage your portfolio
Working with a property manager who can help you handle day-to-day operations, such as tenant screening, rent collection, and maintenance, is advisable. Regularly evaluate your portfolio to ensure it’s meeting your goals and adjust your strategy as needed.
Crafting your first real estate portfolio can be a rewarding and lucrative experience, but it’s crucial to approach it carefully and strategically. By defining your goals, determining your budget, researching the market, identifying investment opportunities, evaluating potential investments, securing financing, and managing your portfolio effectively, you can build a successful real estate portfolio that meets your financial goals and supports your long-term financial security.