NEW ORLEANS – Home Buyer Louisiana, a New Orleans-based real estate investment company focused on distressed, inherited, vacant and hard-to-sell homes, is completing its 250th property closing in Louisiana, marking a growth milestone for a company that says demand has increased as homeowners face rising insurance, repair and carrying costs.
Founded in 2019 by Australian entrepreneur Stephen Keighery, Home Buyer Louisiana has grown from a small startup into an active local real estate company with six full-time employees working from its Poydras Street office. The company is supported by a network of local contractors, property managers, title companies and real estate investors, and has now handled properties across 16 Louisiana parishes, including Greater New Orleans, Baton Rouge, Lafayette, the Northshore and surrounding communities.
Keighery said the 250th closing is not just a volume milestone, but a reflection of the housing challenges his team sees across Louisiana.
“Reaching 250 Louisiana closings shows that there is a real need for companies that can help solve complicated property situations,” said Stephen Keighery, founder of Home Buyer Louisiana. “Many of the houses we buy are not simple retail listings. They may be inherited, vacant, damaged, tied up in succession, facing title issues or in need of major repairs. Our role is to create a path forward for the seller and help get the property back into productive use.”
Rising Costs Push More Owners to Sell
Keighery said Home Buyer Louisiana has seen more calls over the past year from sellers under financial pressure.
“Some people have been holding on for a long time, but higher insurance costs, inflation in everyday expenses, repair costs and higher interest rates have made it harder to keep carrying a property that is vacant, inherited, damaged or not producing income,” said Keighery.
He said the company is also hearing from more homeowners who have received pre-foreclosure letters or are worried they may fall behind.
“At the same time, the type of distress we see is rarely just one issue,” Keighery said. “It is often layered. A house may be inherited, need major repairs, have title complications and also be costing the owner money every month. That is where a traditional retail sale can become difficult.”
Home Buyer Louisiana buys houses as-is and either renovates them, holds them as rentals or connects them with local investors and contractors who can return them to productive use.
“A lot of the houses we buy do not fit neatly into the normal listing inventory,” Keighery said. “Some need foundation work. Some have fire damage. Some involve multiple heirs or require a buyer who can move quickly and solve problems. That is the hidden housing stock we deal with every day.”
New Orleans Anchors Home Buyer Louisiana Expansion
Home Buyer Louisiana has also expanded its regional model by formally launching Home Buyer Mississippi in January. The new company is focused initially on the Mississippi Gulf Coast and South Mississippi, offering a similar option for property owners.
“New Orleans is still our operating base,” said Keighery. “We launched Home Buyer Mississippi because we were seeing many of the same property challenges across South Mississippi that we see in Louisiana: houses with major repairs, inherited properties, vacant homes and situations where sellers need certainty. We are running that expansion from our Poydras Street office with our New Orleans-based team, which shows how Greater New Orleans can serve as a regional headquarters for companies growing across the Gulf South.”
Keighery said the expansion reflects both a business strategy and a personal commitment to the region.
“For me personally, the priority is to keep building a company that is rooted in New Orleans but capable of growing across the Gulf South. I came here from Australia on an E-2 business investment visa, and New Orleans has become home for my family and my business. That comes with a real sense of responsibility. I want the company’s growth to create local jobs, support local contractors, and help improve housing stock in the communities we serve.
Insurance Still a Key Factor
Keighery said insurance remains one of the company’s biggest market challenges because it affects sellers, buyers, landlords and renovation projects.
“A house that might have worked financially a few years ago can become much harder to justify when insurance, taxes, repairs and interest rates all move against you,” said Keighery.
He said he has seen some improvement this year, including an average insurance premium reduction of about 8% on renewals across his own rental portfolio, but premiums remain well above where they were before Hurricane Ida.
Deal Complexity Requires Specialized Approach
The other major challenge, he said, is the complexity of the transactions.
“A lot of the deals we work on are not simple transactions,” Keighery said. “There may be multiple heirs, missing paperwork, title issues, deferred maintenance or a seller who is dealing with a difficult life transition. That requires patience, systems and a team that understands how to move carefully without losing momentum.”
He said navigating those issues requires a structured approach to how deals are sourced and completed.
“In distressed real estate, the issue is often liquidity,” Keighery said. “Sellers need certainty, speed and someone who can deal with complexity. Local investors, contractors and renovators need access to properties they can actually turn around. We built Home Buyer Louisiana around connecting those two sides of the market in a way that helps everyone move forward.”
Looking ahead, Home Buyer Louisiana plans to continue expanding across South Louisiana and South Mississippi while strengthening its local team, buyer network and operational systems.
“Our priority is not to become a faceless national buyer,” Keighery said. “We want to be the most trusted local option for sellers with difficult property situations in Louisiana and South Mississippi.”
